In Montenegro, the market for footwear with leather uppers saw fluctuations from 2013 to 2023. The market value in 2023 was 42.388 million USD. The period began with growth in 2013 and 2014, but from 2015 onwards, there was a notable decline, marked by significant drops in 2015, 2019, and 2020. Although there was some recovery in 2021, the market continued to decrease slightly in the following years. Over the last five years, the compound annual growth rate (CAGR) indicated a contraction of 2.96% annually.
Future trends to watch for:
- Challenges in sustaining market growth due to changing consumer preferences and economic conditions.
- Potential influence of global trends in sustainable and ethical fashion impacting leather demand.
- Opportunities in digital transformation improving customer engagement and sales channels.
How does Montenegro rank in Footwear with Uppers of Leather Market Size Value?
| # | 40 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 36,953,000,000 | 2023 | +6.57% | +4.42% | View data |
| 2 | 2 Germany | 16,242,000,000 | 2023 | +0.99% | -0.53% | View data |
| 3 | 3 France | 15,727,000,000 | 2023 | +0.27% | +0.32% | View data |
| 4 | 4 United Kingdom | 11,384,000,000 | 2023 | -1.22% | -1.02% | View data |
| 5 | 5 Spain | 5,620,100,000 | 2023 | -0.023% | +0.9% | View data |
| 33 | 33 El Salvador | 61,882,000 | 2023 | -0.96% | +0.34% | View data |
| 34 | 34 Honduras | 49,545,000 | 2023 | +2.43% | +2.28% | View data |
| 35 | 35 Montenegro | 42,388,000 | 2023 | -2.02% | -2.96% | |
| 36 | 36 Armenia | 28,171,000 | 2023 | -1.12% | -1.36% | View data |
| 37 | 37 Zambia | 22,531,000 | 2023 | +1.29% | +1.33% | View data |
