The import of footwear with outer soles and uppers of leather to the US is forecasted to decline steadily over the five-year period from 2024 to 2028. The value in 2024 is projected at $751.34 million and declines to $715.65 million by 2028. From 2023 to 2024, the import is experiencing a downtrend, suggesting a reduction in demand or a shift to alternative materials or markets.
Year-on-year percentage variations indicate a consistent decrease in imports, signifying a 1.22% annual decline on average over these years. The compounded annual growth rate (CAGR) over this period further underlines this downward trend.
Future trends to watch for include shifts in consumer preferences towards sustainable or synthetic materials, potential trade policy changes impacting tariffs and pricing, and evolving fashion trends that could rejuvenate demand or continue to suppress it as buyers pivot towards new styles and materials.
