The polishes and creams for footwear or leather market in Thailand fluctuated from 2013 to 2023, with values ranging between $5.34 million and $6.47 million. The market saw a decline from 2013 to 2014, followed by a gradual recovery till 2019. 2020 marked a significant drop due to external factors, but the market rebounded in 2021, stabilizing around $6.44 million by 2023. The annual compound growth rate over the last five years is approximately -0.075%, indicating a slight overall decline.
Future trends to watch for:
- Technological advances in leather care products.
- Shifts in consumer preferences towards sustainable and eco-friendly products.
- Impacts of global economic conditions on consumer spending and market growth.
