The waterproof footwear market in Canada experienced a general contraction from 2013 to 2020, with values declining from $167.55 million to $144.15 million USD. The growth was mostly negative during this period, reflecting an annual average decrease (CAGR) of approximately -2.56% over five years by 2020. The market then experienced a modest rebound, demonstrating growth over the next three years until 2023 at $151.65 million USD. As of 2024, the market is forecasted to continue growing gradually, with a predicted annual average growth rate of 1.2% leading to a market size of $163.6 million USD by 2028.
Over the last two years, the year-on-year variation was positive but modest: 1.69% in 2022 and 1.65% in 2023. The average yearly growth rate for the last five years is anticipated to be 1.2%, reflecting a mild recovery trend.
Future trends to watch for include emerging consumer preferences focused on sustainability and innovations in material technology, which is anticipated to drive the demand for waterproof footwear. Expanded outdoor recreation and urban lifestyle markets may also provide upward market trends. Additionally, economic factors and advancements in online retail distribution may further influence market growth.
