The production in the footwear sector in Finland has seen fluctuations over the past decade, peaking in 2017 with 206.7 Million Euros and hitting a low in 2020 at 157.3 Million Euros. Recently, production stood at 203.6 Million Euros in 2023, showing a year-on-year increase of 5.66%. The average annual growth rate over the last five years (2018-2023) was 2.75%. Forecasts for the next five years indicate a slower growth rate with a 5-year CAGR of 0.78% and a total growth rate of 3.98% by 2028, predicting production to reach 214.2 Million Euros.
Future trends to watch for include shifts in consumer preferences towards sustainable and ethically produced footwear, potential impacts of economic fluctuations, and advancements in production technologies which could enhance efficiency and reduce costs.
