Footwear Manufacturing in Australia - Industry Market Research Report

Footwear Manufacturing in Australia - Industry Market Research Report
Footwear Manufacturing in Australia

The Footwear Manufacturing industry has encountered its fair share of difficulties. Factors like tariff reductions and new free trade deals have boosted low-cost imports. Economic instability and shifting consumer sentiment have also boosted demand for imported footwear, with consumers seeking less-costly foreign options. The COVID-19 pandemic wreaked havoc on the industry because of temporary closures, workforce shortages and capacity limitations. Nonetheless, several industry manufacturers have effectively tapped into niche and specialty markets both in Australia and overseas, including RM Williams, leveraging their strong branding and reputation for Australian-made products. Higher household disposable income has also boosted consumers' purchasing power to spend on footwear, benefiting these manufacturers. Industry revenue has tumbled at an annual rate of 5.7% in the five years spanning 2023-24, totalling an estimated $637.7 million in 2023-24. This includes an expected 4.3% dip in 2023-24, as the final consumers decrease their spending because of a pessimistic sentiment and pressures from inflation.

The Footwear Manufacturing industry consists of operators that manufacture footwear or footwear components. These products are then purchased by footwear wholesalers and retailers that resell them to consumers.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.