2014-02-14 10:35:04 - Footwear Manufacturing in China - a new market research report on companiesandmarkets.com
China has long been the largest global footwear manufacturer, supplying products to countries all over the world. In recent years, however, a heavy reliance on foreign markets has brought significant challenges to the industry, as the global recession in 2008 and 2009 led to lower export demand.
Over the five years to 2013, industry revenue has been growing about 12.3% per year. In 2013, revenue is expected to increase 9.2% to $114.3 billion, mainly due to the recovering global economy. The largest product segment of the industry is leather shoes. Leather shoe output has grown steadily over the five years through 2013, increasing at estimated annualized rate of 7.2%.
Export growth of 8.5% is expected in 2013 and exports as a share
of industry revenue are estimated at 46.0%. Competing imports make up a much smaller proportion of the industry, accounting for 3.2% of domestic demand in 2013.
Industry growth is forecast to slow in the next five years to about 6.5% per year to reach $156.8 billion in revenue by 2018. Growth will mainly result from increasing domestic demand and some pricing rises. Footwear output and exports are expected to increase moderately. As China´s currency appreciates and labor costs rise, export price advantages will diminish. Some Southeast Asian countries, such as Vietnam, will to some degree replace China as manufacturers of low-priced footwear.
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