The Canadian sports footwear market with uppers of leather witnessed a fluctuating decline in value from 2012 to 2022. Starting at $221.1 million in 2012, the market value dropped to $119.32 million by 2022. The market experienced significant dips, particularly between 2015 and 2016 with a -20.94% year-on-year decrease, and again in 2020 with a -22.13% year-on-year decrease. Some recovery was seen in 2021 with a 15.14% increase, however, this was not sustained into 2022, which saw a -4.54% decrease. Over the last five years leading up to 2022, the market's compound annual growth rate (CAGR) has been -2.82%, reflecting an overall negative growth trend.
In 2023, the market stood at $121.5 million, showing a slight recovery compared to the prior year. Moving forward, trends to watch include the potential impact of innovations in footwear technology, shifts towards sustainable and ethical fashion choices, and economic factors that may influence consumer spending on premium leather sports footwear.
