Between 2013 and 2023, Colombia's footwear market with outer soles and uppers of rubber or plastics displayed a significant decline from $634.61 million to $354.84 million, reflecting notable contractions in certain years. The sharpest decrease occurred from 2014 to 2016. Although there was a brief recovery in 2017 and 2018, the overall trend indicates a persistent downturn with a 2.2% year-on-year decrease in 2023. The five-year compounded annual growth rate stood at -4.69%, showcasing a continuous decline, particularly accentuated by economic shocks and shifts in consumer behavior.
Looking ahead, potential future trends include increased focus on sustainable materials and production processes, growing e-commerce opportunities, and possibly recovering demand as the market adapts to changing consumer preferences and economic conditions. Monitoring these factors could provide insights into potential stabilization or growth in this segment.
| # | 39 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Japan | 5,181,600,000 | 2023 | -3.68% | -2.85% | View data |
| 2 | 2 Germany | 4,872,500,000 | 2023 | +2.21% | +1.5% | View data |
| 3 | 3 France | 4,282,900,000 | 2023 | +1.36% | +1.03% | View data |
| 4 | 4 United Kingdom | 3,283,400,000 | 2023 | -0.29% | +0.39% | View data |
| 5 | 5 Italy | 3,094,400,000 | 2023 | +1.71% | +1.71% | View data |
| 18 | 18 Portugal | 380,270,000 | 2023 | +0.23% | -1.21% | View data |
| 19 | 19 Romania | 369,930,000 | 2023 | +4.8% | +2.76% | View data |
| 20 | 20 Colombia | 354,840,000 | 2023 | -2.2% | -4.69% | |
| 21 | 21 Belgium | 343,460,000 | 2023 | +1.41% | -0.16% | View data |
| 22 | 22 Ecuador | 211,070,000 | 2023 | +2.03% | +1.8% | View data |
