The UK market for footwear with upper straps or thongs assembled to the sole by means of plugs demonstrated a declining trend from 2013 to 2023. It reached a market size value of 113.6 million USD in 2023, indicating a continuous reduction in value over the last decade. Year-on-year declines were notable in recent years, including a 1.77% decrease from 2022 to 2023. The compound annual growth rate (CAGR) over the last five years was -2.78%, reflecting a persistent downward trajectory.
Future trends to watch for:
- Innovations in sustainable materials to invigorate market interest.
- Potential growth from e-commerce platforms targeting a broader audience.
- Expansion in niche segments, such as orthotic-friendly designs, to cater to specific consumer needs.
- Influx of fashion trends that may rekindle demand for these styles.
| # | 15 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 293,050,000 | 2023 | +0.53% | +0.72% | View data |
| 2 | 2 Spain | 185,350,000 | 2023 | +4.6% | +3.95% | View data |
| 3 | 3 United Kingdom | 113,600,000 | 2023 | -1.77% | -2.78% | |
| 4 | 4 Germany | 107,120,000 | 2023 | +2% | +2.17% | View data |
| 5 | 5 Colombia | 93,639,000 | 2023 | +2.44% | +2.21% | View data |
