Global footwear production saw a significant decline of 6% in 2023 compared to the previous year, according to the latest research from the World Footwear Yearbook. This figure represents an adjusted calculation, not considering the unprecedented low points during the coronavirus pandemic years of 2020 and 2021.
Global footwear production reached 22.4 billion pairs last year, with the European Union (EU) witnessing a 5% decrease in its share. Remarkably, nearly 90% of all footwear is produced in Asia, underscoring the region’s dominance in the industry.
China, the world’s largest footwear producer, holds a commanding 55% of the global market share, manufacturing 12.3 billion pairs of shoes in the past year. Despite the overall decline, India has increased its market share and now accounts for 11.6% of the global total. Asia, therefore, remains the epicenter of global footwear production, even though the region experienced a 7% drop in production compared to the previous year.
The World Footwear Yearbook attributes the decline in global footwear production in 2023 to a contraction in consumption across key regions—namely the US, Asia, and the EU. The report highlights a notable decrease in footwear consumption in these areas, significantly impacting production numbers. In the United States, footwear consumption has dropped significantly, with a reduction of 749 million pairs, causing the country to switch places with India in the global rankings.
China continues to be the largest consumer of footwear, but its share of global consumption has decreased by 17.1%, equating to a reduction of 398 million pairs. The European Union, the third-largest consumer market for footwear, saw a decrease of 399 million pairs.
In conclusion, the year 2023 marked a challenging period for the global footwear industry, with production declining by 6% due to reduced consumption in major markets. Despite these challenges, Asia remains the dominant force in footwear production, with China and India leading the way. The future trajectory of global footwear production will depend heavily on the recovery of consumer demand in key regions.
