The South Korean footwear market, featuring outer soles and uppers of rubber or plastics, saw a continuous growth trajectory over the past decade, reaching $2.38 billion in 2023. Although there were annual fluctuations, the average yearly growth rate over the last five years stood at 4.02%. Notably, the market dipped in 2020 due to global disruptions but rebounded strongly in subsequent years, peaking in 2021 with a 19.24% increase. The year-on-year growth in 2023 was a moderate 3.71%, indicating a stabilization phase after previous peaks.
Future trends to watch for include:
- Sustainability drives shaping consumer preferences and footwear design towards eco-friendly materials.
- Technological integration in footwear, such as smart features for enhanced user experience.
- Shifting demographics and lifestyle changes influencing demand patterns and market dynamics.
- Global economic factors affecting import/export dynamics in South Korea's footwear market.
| # | 39 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Japan | 5,181,600,000 | 2023 | -3.68% | -2.85% | View data |
| 2 | 2 Germany | 4,872,500,000 | 2023 | +2.21% | +1.5% | View data |
| 3 | 3 France | 4,282,900,000 | 2023 | +1.36% | +1.03% | View data |
| 4 | 4 United Kingdom | 3,283,400,000 | 2023 | -0.29% | +0.39% | View data |
| 5 | 5 Italy | 3,094,400,000 | 2023 | +1.71% | +1.71% | View data |
| 6 | 6 Spain | 2,707,300,000 | 2023 | +1.13% | +2% | View data |
| 7 | 7 South Korea | 2,380,300,000 | 2023 | +3.71% | +4.02% | |
| 8 | 8 Australia | 1,261,800,000 | 2023 | +0.7% | +0.52% | View data |
| 9 | 9 Netherlands | 1,039,800,000 | 2023 | +2.65% | +2.15% | View data |
