Forecasted import values of Footwear With Uppers of Rubber or Plastics to the Philippines show a consistent upward trend from 2024 to 2028. In 2023, the actual import value stood at $63.158 million. The year-on-year variation indicates a steady growth trajectory: from 2024 to 2025 there is a 3.4% increase, from 2025 to 2026 a 3.2% rise, from 2026 to 2027 an increase of 3.1%, and from 2027 to 2028 a growth of 2.9%. The Compound Annual Growth Rate (CAGR) from 2023 to 2028 is approximately 3.1%.
Future trends to watch for include:
- Consumers' shifting preferences towards eco-friendly materials
- Potential impact of trade policies and tariffs
- Innovations in footwear technology and synthetic materials
- The influence of global economic conditions on consumer spending power
