In the German footwear sector, the turnover witnessed fluctuations since 2013. From 2013 to 2023, the turnover surged from 1.87 billion euros to 2.35 billion euros. The substantial growth in 2018, marked by a 27.93% increase, stands out. However, the sector experienced a decline in certain years, notably in 2017 and 2020. The Compound Annual Growth Rate (CAGR) for the last five years, ending in 2023, is 0.34%.
From 2024 onward, forecasts predict a steady increase, reaching 2.54 billion euros by 2028. The forecasted 5-year CAGR is 1.21%, indicating moderate growth.
Future Trends to Watch:
- Rising sustainability concerns driving demand for eco-friendly footwear.
- Increased online sales impacting traditional retail store revenues.
- Technological advancements in footwear materials and manufacturing.
- Increasing consumer preference for customized and luxury footwear.
- Potential impacts of global supply chain disruptions.
