The import value of footwear with outer soles of rubber or plastics and uppers of leather into the US is projected to decrease gradually from $4.7524 billion in 2024 to $4.3316 billion by 2028. In 2023, the imports stood at approximately $4.86 billion. This prediction indicates a consistent yearly decrease, with year-on-year variations reflecting a declining trend. The compound annual growth rate over the forecast period is negative, reflecting a diminishing market for this product segment.
Future trends to watch for include:
- Potential shifts towards sustainable materials and alternative manufacturing processes.
- Changing consumer preferences and geopolitical factors that may affect trade agreements.
