In 2023, the turnover in the footwear sector in Belgium stood at 21.0 million euros. Based on forecasted data, the turnover is expected to decline from 2024 onwards, reaching 19.5 million euros in 2024 and progressively decreasing to 13.0 million euros by 2028. Year-on-year variations indicate a consistent downward trend, with an annual decrease of approximately 8-10%. The Compound Annual Growth Rate (CAGR) over the five-year period illustrates an average annual decline of roughly 10% from 2024 to 2028.
Future trends to watch for:
- Shifts in consumer behavior towards sustainable and eco-friendly products.
- Potential impacts of economic conditions and consumer purchasing power.
- Innovations in footwear technology and digital sales channels.
- Changes in fashion trends and their influence on market demand.
- The effect of international trade policies on imported footwear.
