The Footwear with Uppers of Leather market in Madagascar reached $8.322 million in 2023. The sector has experienced fluctuation over the past decade, with a strong growth phase between 2016 and 2019, followed by a dip in 2020 attributed to the pandemic's impact. Despite this, the market rebounded notably in 2021 with over 25% growth. Recent trends indicate a more moderate growth rate, with a year-on-year increase of 3.38% in 2023. Over the past five years, the compound annual growth rate (CAGR) stands at 4.38%, reflecting steady market expansion.
Future trends to watch include:
- Increased consumer demand for premium leather footwear, driven by rising disposable incomes.
- Potential expansion in e-commerce platforms, offering broader market access.
- Shifts towards sustainable and eco-friendly leather sources enhancing brand image and appeal.
| # | 40 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 36,953,000,000 | 2023 | +6.57% | +4.42% | View data |
| 2 | 2 Germany | 16,242,000,000 | 2023 | +0.99% | -0.53% | View data |
| 3 | 3 France | 15,727,000,000 | 2023 | +0.27% | +0.32% | View data |
| 4 | 4 United Kingdom | 11,384,000,000 | 2023 | -1.22% | -1.02% | View data |
| 5 | 5 Spain | 5,620,100,000 | 2023 | -0.023% | +0.9% | View data |
| 38 | 38 Malta | 22,135,000 | 2023 | +0.72% | +1.04% | View data |
| 39 | 39 Jordan | 15,295,000 | 2023 | -6.79% | -5.81% | View data |
| 40 | 40 Madagascar | 8,322,000 | 2023 | +3.38% | +4.38% | |
