In 2023, the Footwear with Uppers of Leather market in Belgium stood at 1.143 billion USD. Over the past few years, the market has seen fluctuations, with a notably sharp decline of 24.92% in 2015. Recent data shows a downward trend, with the market value decreasing by 2.43% in 2022 and by 2.44% in 2023. The five-year CAGR from 2018 to 2023 is -2.29%, reflecting a slow but steady decline. Forecasts indicate this decline will continue, with a projected five-year CAGR of -2.22%, and the market expected to shrink by approximately 10.63% by 2028.
Future trends to watch for include:
- Shifts in consumer preferences toward sustainable and eco-friendly products, which may impact the demand for leather footwear.
- Technological advancements in materials and production processes that could affect market dynamics.
- Potential economic factors or changes in trade policies that could either positively or negatively impact market growth.