The turnover in the footwear sector in Denmark has exhibited significant fluctuations over the past decade. The period from 2013 to 2020 saw erratic growth with sharp inclines and declines. Noteworthy is the significant drop between 2019 and 2021, where the sector's turnover halved. The compounded annual growth rate (CAGR) from 2018 to 2023 was -7.53%, indicating a general contraction in recent years. As of 2023, the turnover stood at 89.7 million Danish Krones.
Future trends to watch include:
- A slight but continuous decline forecasted from 2024 to 2028, with a 5-year CAGR of -0.78%.
- Impact of global economic factors and consumer confidence on purchasing behavior.
- Technological advancements and shifts towards sustainable and eco-friendly footwear.
- Potential recovery driven by innovations and increasing market penetration in emerging segments.
