The market for footwear with upper straps or thongs assembled to the sole by means of plugs in Guatemala reached a value of $29.727 million USD in 2023. Over the past decade, the market has witnessed moderate growth with notable fluctuations, such as a significant increase of 12.44% in 2015 and a decline of 3.47% in 2019. From 2018 to 2023, the market showed a consistent growth trend with a compound annual growth rate (CAGR) of 1.04%. The recent two years highlighted steady growth rates with year-on-year variations of 2.24% in 2022 and 2.17% in 2023.
Future trends to watch for:
• Increasing consumer preference for eco-friendly materials and sustainable products may drive future innovations.
• Advances in manufacturing technology might lead to the production of diversified styles, further influencing market dynamics.
• Potential economic fluctuations and changes in consumer spending power due to global conditions could affect market growth in upcoming years.
| # | 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% | View data |
| 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 |
| 7 | 7 Chile | 56,716,000 | 2023 | +1.48% | +1.53% | View data |
| 8 | 8 Peru | 36,145,000 | 2023 | -1.11% | -0.86% | View data |
| 9 | 9 Guatemala | 29,727,000 | 2023 | +2.17% | +1.04% | |
| 10 | 10 Sweden | 10,344,000 | 2023 | +2.11% | +9.11% | View data |
| 11 | 11 Nicaragua | 7,444,400 | 2023 | +1.04% | +0.74% | View data |
