Shoe & Footwear Manufacturing in Canada - Market Research Report (2013-2028)
New York, United States
Last Updated: August 2023
NAICS 31621CARevenue
$277.4m
Past 5-Year Growth
Profit
$X.Xm
Employees
1,160
Businesses
107
Wages
$XX.Xm
Shoe & Footwear Manufacturing in Canada industry analysis
Due to high levels of recent economic volatility, the Canadian shoe and footwear manufacturing industry has experienced significant fluctuations in performance over the past five years. Competition from imports and the effect of the pandemic have contributed to unstable industry revenue growth. The appreciation of the Canadian dollar relative to its trading partners during the period has encouraged demand for increasingly affordable imports while also increasing price competitiveness domestically. Consumer demand for footwear has been predominantly satisfied by competitively priced products manufactured in developing countries. However, over the past five years, revenue has been growing at a CAGR of 0.7%, and is expected to reach $277.4 million in 2023. This includes an expected 0.8% drop in 2023. Profit is expected to slump to 3.5% of revenue in 2023 from 6.9% in 2018.The COVID-19 pandemic resulted in disruptions to downstream demand and supply chains, hindering manufacturers' activity. A robust economy-wide recovery benefited manufacturers as consumer confidence returned, although demand for shoes is provided by foreign suppliers, with imports satisfying a significant share of domestic demand. Footwear manufacturers in developing countries, such as Vietnam, have a significant advantage in terms of cost structure over domestic manufacturers. This has led domestic operators to make high-value products to serve niche markets and remain profitable. These trends have also contributed to increased consolidation in the industry. While the exit of unprofitable companies has driven down industry participation, industry leader Genfoot Inc. has increased its market share as it specializes in producing premium winter footwear, offering customers higher quality rather than lower priced products.Over the next five years, the Canadian effective exchange rate index is expected to remain relatively steady. Due to a relatively stable Canadian dollar, exports are expected to jump slightly. Any exchange rate effects are unlikely to meaningfully offset the cost competitiveness of globally sourced industry goods, as imports are expected to still significantly satisfy domestic demand. Overall, revenue is forecast to slump at a CAGR of 0.5% over the next five years, reaching an estimated $270.9 million in 2028.
Trends and Insights
- The industry has consolidated as manufacturers encounter pricing pressures from foreign manufacturers. Increased pricing pressures have resulted in reduced profit.
- Improving economic conditions have boosted the boots, dress and casual shoes and sandals segment. Operators that produce these products focus on quality by offering higher value-added boots and dress shoes.
- Manufacturers concentrate in regions with large populations. In addition, manufacturers also locate in regions with major urban centres.
- Manufacturers compete on quality and design. These factors are especially important to high-income earners in the market for dress shoes or shoes for work.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 0.4 % over the past five years, to reach an estimated $277.4m in 2023.
Trends and Insights
Improving economic conditions have boosted industry revenue
- Over the past five years, the industry has benefited from improving economic conditions, like rising disposable income and consumer spending, which have contributed to boosting industry revenue.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
International trade will likely continue to affect manufacturers
- The Canadian effective exchange rate index, which measures the value of the Canadian dollar compared with the currencies of major trading partners, is expected to remain relatively steady over the next five years.
Biggest companies in the Shoe & Footwear Manufacturing in Canada
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Genfoot Inc. | 44.2 | 1.5 | 3.4 | |
Dayton Boot Brands Ltd. | 8.5 | 0.3 | 3.5 | |
Tatra | 2.5 | 0.1 | 4.0 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Boots, dress and casual shoes and sandals, Work and utility-type boots and shoes and Sports shoes. Boots, dress and casual shoes and sandals is the largest segment of the Shoe & Footwear Manufacturing in Canada.
Trends and Insights
The boots, dress and casual shoes and sandals segment has grown because of improving economic conditions
- Boots, dress and casual shoes and sandals account for the largest product segment in the shoe and footwear manufacturing industry in Canada, representing almost two-thirds of industry revenue in 2023.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Men's & Boys' Apparel Manufacturing in Canada
- Women's, Girls' & Infants' Apparel Manufacturing in Canada
Complementors
- Synthetic Fibre Manufacturing in Canada
- Rubber Product Manufacturing in Canada
International industries
- Global Footwear Manufacturing
- Shoe & Footwear Manufacturing in the US
- Footwear Manufacturing in Australia
- Footwear Manufacturing in the UK
- Footwear Manufacturing in China
Table of Contents
About this industry
Industry definition
The Shoe and Footwear Manufacturing industry in Canada manufactures footwear for adults and children. Orthopedic footwear and specialist athletic footwear, such as skates or roller blades, are not included.
What's included in this industry?
Manufacturing rubber and plastic footwearManufacturing house slippersManufacturing athletic shoesManufacturing cleated athletic shoesManufacturing dress shoesCompanies
Genfoot Inc.Dayton Boot Brands Ltd.TatraPurchase this report to view all 3 major companies in this industry.
Related Terms
UNITED STATES-MEXICO-CANADA AGREEMENT (USMCA) TRANS-PACIFIC PARTNERSHIP (TPP)OFFSHORINGOUTSOURCINGIndustry Code
NAICS 316210 - Shoe & Footwear Manufacturing in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The industry has consolidated as manufacturers encounter pricing pressures from foreign manufacturers. Increased pricing pressures have resulted in reduced profit.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Improving economic conditions have boosted the boots, dress and casual shoes and sandals segment. Operators that produce these products focus on quality by offering higher va...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Manufacturers concentrate in regions with large populations. In addition, manufacturers also locate in regions with major urban centres.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each province in 2023
- Number and share of revenue each province accounts for in 2023
- Number and share of wages each province accounts for in 2023
- Number and share of employees in each province in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Manufacturers compete on quality and design. These factors are especially important to high-income earners in the market for dress shoes or shoes for work.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
A handful of large manufacturers operate on a regional scale. This contributes to keeping market share concentration fragmented.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Genfoot Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Dayton Boot Brands Ltd.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Tatra's performance by revenue, market share and profit margin from 2017 through 2023
Detailed analysis
- Description and key data for Genfoot Inc., and factors influencing its performance in the industry
- Description and key data for Dayton Boot Brands Ltd., and factors influencing its performance in the industry
- Description and key data for Tatra, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Manufacturers must comply with labour laws regarding maximum working hours and working conditions. Also, manufacturers must adhere to workplace safety regulations.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Industry profit slumped as low-cost imports undercut manufacturers. Foreign manufacturers have an advantage in cost structure and pressure domestic manufacturers’ bottom line...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Assets (2016-2021)
- Liabilities (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Shoe & Footwear Manufacturing industry in Canada in 2024?
The market size of the Shoe & Footwear Manufacturing industry in Canada is $277.4m in 2024.
How many businesses are there in the Shoe & Footwear Manufacturing in Canada industry in 2023?
There are 107 businesses in the Shoe & Footwear Manufacturing industry in Canada, which has declined at a CAGR of 3.5 % between 2018 and 2023.
Has the Shoe & Footwear Manufacturing industry in Canada grown or declined over the past 5 years?
The market size of the Shoe & Footwear Manufacturing industry in Canada has been growing at a CAGR of 0.4 % between 2018 and 2023.
What is the forecast growth of the Shoe & Footwear Manufacturing industry in Canada over the next 5 years?
Over the next five years, the Shoe & Footwear Manufacturing industry in Canada is expected to decline.
What are the biggest companies in the Shoe & Footwear Manufacturing market in Canada?
The biggest companies operating in the Shoe & Footwear Manufacturing market in Canada are Genfoot Inc., Dayton Boot Brands Ltd. and Tatra
What does the Shoe & Footwear Manufacturing in Canada include?
Manufacturing rubber and plastic footwear and Manufacturing house slippers are part of the Shoe & Footwear Manufacturing industry.
Which companies have the highest market share in the Shoe & Footwear Manufacturing in Canada?
The company holding the most market share in Canada is Genfoot Inc..
How competitive is the Shoe & Footwear Manufacturing industry in Canada?
The level of competition is high and steady in the Shoe & Footwear Manufacturing industry in Canada.
