The number of enterprises in the UK footwear sector is forecasted to gradually decline from 173 in 2024 to 169 by 2028. In 2023, the sector consisted of 174 enterprises, indicating a continuing trend of decreasing numbers. This reflects a year-on-year decrease of approximately 0.58% over the forecast period. Over the next five years, a compound annual growth rate (CAGR) of -0.58% is expected.

Future trends to watch for:

Potential impact of digital transformation and e-commerce growth on traditional footwear enterprises.
Expansion of sustainable and eco-friendly practices within the industry, affecting enterprise operations and competitiveness.
Influence of global trade dynamics and local economic conditions on the entry and exit of enterprises.