In 2023, the footwear production value in Belgium stood at €21.7 million. According to the forecast data, there is a noticeable declining trend in the subsequent years. The year-on-year variations are as follows:
- 2024: -6.0%
- 2025: -6.4%
- 2026: -6.8%
- 2027: -6.7%
- 2028: -6.6%
Over the forecasted period from 2024 to 2028, the Compound Annual Growth Rate (CAGR) shows an average annual decline of around 6.5%
Looking forward, key trends to watch for include shifts in consumer preferences towards sustainable and eco-friendly footwear, potential impacts of global trade policies on production costs, and technological advancements in footwear manufacturing that could influence production efficiency and costs.
