The footwear industry in China has long been the number one in the world, with China retaining its dominant position as the world’s largest footwear manufacturer and biggest footwear exporter in the global market. Fierce international competition has been a general trend in the industry, with an increasing amount of global manufacturers gravitating towards Southeast Asia as a preferred destination for manufacturing products, this has reduced the output of products from China’s footwear industry in recent years, but the country is still expected to be the world’s top footwear supplier over the next few years.
BizVibe’s shoe industry analysis for China aims to tackle recent market trends, opportunities, the breakdown of performance from key sub categories, and the state of China’s footwear market’s future in the global landscape.
China’s Footwear Market Analysis
According to the latest market reports from Euromonitor, total sales from China’s footwear industry reached RMB 370 billion (US$56.7 billion) in 2016, and it is expected that the market will continue to grow at an average annual rate of 7% through 2020. The fastest growing product segment in China’s footwear industry over the last few years was leather shoes. Leather shoe output has grown steadily at an estimated annualized rate of 1.5% over the recent years.
Take Your Footwear Business to Another Level: Network with China’s Top Footwear Manufacturers
There are currently four major footwear industry clusters in the country, as reported by HKTDC, located mainly in the southeast coastal regions. The first is the Guangdong footwear industry base led by Guangzhou and Dongguan, with medium to high-end shoes being their major products. The second is the Zhejiang footwear industry base led by Wenzhou and Taizhou, which mainly produce medium to low-end men’s shoes. The third is the western region footwear industry base led by Chengdu and Chongqing, where medium to low-end women’s shoes are primarily produced. The fourth footwear industry base is led by Quanzhou and Jinjiang in Fujian, with sports shoes being the main products.
Exports of China’s Footwear Industry
The growth of China’s footwear industry is also driven by increasing global footwear demand, especially for products like running shoes, boots, wedding shoes, women shoes, and other famous footwear categories. China has been the world’s largest suppliers of all these kinds of footwear products for decades. In 2016, China exported $47.2 billion worth of footwear to the global market, representing over 35.5% of the world’s total footwear exports in that year. The USA, Germany, France, UK and Italy and major countries in the Middle East are currently the largest exporting markets for China’s footwear products.
For future prospects, footwear manufacturers in China are likely to implement omnichannel distribution strategies to improve their competitiveness in the domestic market, while further reducing the cost and increasing the quality of exported products. Some leading Chinese footwear brands also plan to adopt an omnichannel sale strategy for the global market, brick-mortar sales and e-commerce channels across the globe will also be of top priority.
Connect with China’s Leading Footwear Manufacturers
China’s leading position in the global footwear market has also attracted significant numbers of buyers and traders from all over the world the hope to source the best business deals in the country. To help your footwear business stay at the peak of the industry, BizVibe provides the most effective to source products and make business deals with the top footwear manufacturers in China. The state of the footwear industry in China is expected to stay promising for the foreseeable future.
Thousands of China’s Footwear & Accessories companies can be in your contact list if you register to join BizVibe today! Whether you are looking reliable suppliers, top manufacturers, wholesalers, and potential customers in over 70 major countries, or finding out what your competitors are buying and which suppliers they’re using, BizVibe can help you reach out to sales prospects and decision-makers in the industry across the globe.