India has made a mark in the leather footwear segment, but customer preference is now shifting towards non-leather shoes, and Bangladesh is steadily marching ahead in this new world.
"This growth will be characterized by two main changes - a significant increase in the demand for non-leather footwear (like sports shoes, running shoes, casual wear, and sneakers) in India, rising from 25 per cent to 75 per cent of the market share by 2030; and a shift in leather shoe production from small-scale, cottage industries to large corporates," it said.
Garment and footwear exports have slumped from the beginning of this year but the drops slowed in recent months, signaling a slight recovery in the industries, experts said. - VnExpress International
Footwear: The operating margin is expected to grow by approximately 125 basis points to around 9 per cent due to lower raw material prices, yet it will remain below the pre-pandemic levels of approximately 10 per cent, said the report.
United Kingdom (UK) imports from Vietnam amounted to US$6.06 billion last year, rising by 5.2% over 2021, according to the General Department of Vietnam Customs.