Leather Footwear - Southeast Asia

Southeast Asia

In 2024, the revenue in Southeast Asia's Leather Footwear segment is anticipated to reach US$5.71bn.
According to the projected Compound Annual Growth Rate (CAGR) for 2024-2028, the segment is expected to grow annually by 4.81%.
When compared globally, in the United States is the leading contributor to this market with a revenue of US$24,420.00m in 2024.
In terms of per capita revenue, Southeast Asia's Leather Footwear segment is expected to generate US$8.23 in 2024.
Looking towards the future, the volume of Southeast Asia's Leather Footwear segment is predicted to rise to 170.90m pairs by 2028.
In 2025, the segment is predicted to exhibit a growth of 1.9%.
The average volume per person in Southeast Asia's Leather Footwear segment is anticipated to be 0.23pairs in 2024.
In Southeast Asia, Indonesia's leather footwear market is growing due to increasing demand for high-quality, handmade products.

Key regions: Germany, Australia, Europe, Philippines, India

Market

Region

Region comparison

Currency

Analyst Opinion

The Leather Footwear segment is the second biggest of the Footwear market. Leather footwear is popular because of its durable and high-quality material. However, in the context of the fast-paced fashion industry, durable leather footwear can be perceived as old-fashioned when comparing it with the models from previous season’s.

The segment is projected to see the lowest increase in revenue between 2022 and 2027 due to increasing consumer interest in sustainability and environmental issues and therefore in buying more eco-friendly shoes. Regardless of these factors, the Leather Footwear segment will not lose its significance within the Footwear market.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on the consumer spending on footwear which comprises Sneakers, Athletic Footwear, Leather Footwear, and Textile & Other Footwear segments that are produced for private end customers for both offline retail (department stores, traditional specialist shops) and online retail (e-commerce, ordering by catalog).

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use resources from the Statista platform, national statistics, industry research, market data from independent databases and third-party sources, historical developments, current trends, reported performance indicators from the key market players, and Statista interviews with market experts. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, consumer price index, and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the exponential trend smoothing illustrates suited forecasting for the Footwear market with projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.