From 2024 to 2028, imports of footwear with uppers of rubber or plastics to Canada are projected to rise steadily. The forecasted values indicate a consistent year-on-year increase starting at 502.01 million USD in 2024, reaching 520.31 million USD by 2028. This represents an average compound annual growth rate (CAGR) of approximately 0.88% over the five-year period. In 2023, the actual value stood at 497.23 million USD, contributing to the pre-existing growth momentum observed in the mid-2020s.
Future trends to watch for include:
- Changes in consumer preferences impacting material choice and design.
- Influence of international trade agreements affecting import tariffs.
- Environmental regulations leading to shifts towards sustainable materials.
- Technological advancements in manufacturing and automation.
