The Thai footwear parts market valued at $146.67 million in 2023. Between 2013 and 2017, the market experienced fluctuations, including notable growth peaks, reaching its highest at $175.39 million in 2017. However, from 2018 onward, the market faced a decline except a slight rebound in 2021. The average CAGR over the past five years was -1.92%. With projected continuous decreases, the 2028 forecast value is $144.78 million, suggesting a -0.20% CAGR for the forecast period.
Future trends to watch for include:
- Potential technological advancements in footwear production.
- Global supply chain disruptions impacting local manufacturers.
- Shifts in consumer demand towards sustainable and eco-friendly products.
- Government policies that might support or hinder market growth.
- Competitor dynamics and entry of new players in the market.
