Footwear and leather polishes market in Hungary

Earlier Report Observations

Between 2018 and 2024, the Hungarian market for footwear and leather polishes showed significant volatility in physical volume. After a slight decline to 397 t in 2019 and a further drop to 377 t in 2020, market size rebounded to 415 t in 2021. It then contracted to 343 t in 2022 and fell sharply to 214 t in 2023, before recovering to 336 t in 2024.

The market contraction in 2022 coincided with a shift in consumer footwear preferences, including the growing athleisure trend. This increased the share of sports and casual shoes, which typically require less frequent or different maintenance, thereby reducing demand for traditional shoe polish and cream products.

Despite the fall in domestic consumption, Hungarian exports of these polishes expanded markedly from 43 t in 2018 to 199 t in 2024. Imports also fluctuated, reaching 390 t in 2024, which supported the market's recovery after the low point in 2023.

Production footwear and leather polishes in Hungary

In value, 2018-2021, K $ US

In 2021, Hungary's output of footwear and leather polishes was valued at 966.6 thousand US dollars, marking a 13.3% increase compared to 2020. Production reached its lowest point in 2020 at 852.9 thousand US dollars, with the largest decline that year at 10.3%. Over the period from 2018 to 2021, production grew by 5.5%, translating to an annualized growth rate of 1.8%.

Annual dynamics of production in Hungary in value, 2018-2021, K $ US

In kind, 2018-2021, t

In 2021, Hungary produced 214.0 tonnes of footwear and leather polishes, showing a robust year-on-year increase of 12.0%. Production peaked in 2019 at 219.0 tonnes and fell to its lowest level in 2020 at 191.0 tonnes, with the largest decline that year at 12.8%. From 2018 to 2021, production increased by 8.1%, with a compound annual growth rate of 2.6%.

Annual dynamics of production in Hungary in kind, 2018-2021, t

Exports footwear and leather polishes from Hungary

Exports in kind, t

Hungary's exports of footwear and leather polishes have increased for the third consecutive year. In 2021, exports reached 100.4 tonnes, representing a sharp advance of 34.1% compared to the previous year. Over the period from 2018 to 2021, exports grew by 133%, with a compound annual growth rate of 32.6%.

Annual dynamics of product's exports from Hungary in kind, 2018-2021, t

From 2018 to 2021, the Netherlands, Germany, and the United Kingdom were the principal buyers of footwear and leather polishes from Hungary, accounting for 23.5%, 16.6%, and 12.1% of exports in kind, respectively. Together, they represented 52.3% of total exports in kind.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Hungary in kind, 2018-2021

Exports in value, K $ US

After a two-year decrease, Hungary's exports of footwear and leather polishes increased in 2021, totalling 255 thousand US dollars, up by 28.6% year-on-year. Exports reached their lowest point in 2020 at 198 thousand US dollars, with the largest decline that year at 34.7%. Over the period from 2018 to 2021, exports decreased by 23.8%, with a compound annual growth rate of -8.7%.

Annual dynamics of product's exports from Hungary in value, 2018-2021, K $ US

From 2018 to 2021, the United Kingdom, Germany, and the Netherlands formed the main group of destinations for Hungary's exports of footwear and leather polishes in value terms, with shares of 23.1%, 17.6%, and 12.4%, respectively. Combined, they accounted for 53.1% of total export flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Hungary in value, 2018-2021

Imports footwear and leather polishes to Hungary

Imports in kind, t

Hungary's imports of footwear and leather polishes have increased for the second consecutive year. In 2021, imports amounted to 301.8 tonnes, showing a solid rise of 15.8% versus the previous year. Imports reached their lowest point in 2019 at 231.0 tonnes, with the largest decline that year at 5.9%. Between 2018 and 2021, imports increased by 22.9%, equating to an annualized growth rate of 7.1%.

Annual dynamics of product's imports to Hungary in kind, 2018-2021, t

From 2018 to 2021, Germany, Poland, and Slovakia formed the main group of sources for Hungary's imports of footwear and leather polishes in kind, with shares of 36.3%, 23.0%, and 9.1%, respectively. Together, they represented 68.4% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Hungary in kind, 2018-2021

Imports in value, K $ US

After a two-year decrease, Hungary's imports of footwear and leather polishes increased in 2021, reaching 1 631 thousand US dollars, which is 15.9% higher compared to 2020. Imports reached their lowest point in 2020 at 1 407 thousand US dollars, with the largest decline that year at 12.7%. Over the period from 2018 to 2021, imports decreased by 7%, with a compound annual growth rate of -2.4%.

Annual dynamics of product's imports to Hungary in value, 2018-2021, K $ US

From 2018 to 2021, Poland, Germany, and Slovakia remained the leading destinations in Hungary's import structure for footwear and leather polishes in value terms, with shares of 32.4%, 27.3%, and 11.4%, respectively. Combined, they accounted for 71.1% of total import flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Hungary in value, 2018-2021