The market for footwear with uppers of leather in Germany stood at $16.242 billion in 2023, showing almost a 1% growth from 2022. Looking back, the market has experienced fluctuating growth rates, including notable increases in 2014 (6.91%) and 2018 (13.11%) and declines in 2015 (-13.85%) and 2020 (-8.14%). From 2019 to 2023, the market grew at a CAGR of -0.53%. Forecasts indicate a continued growth, with an estimated CAGR of 0.74% leading to 2028, projecting a total market value of $17.018 billion.
Future trends to watch for:
- Increasing consumer demand for sustainable and eco-friendly leather options.
- Technological advancements in leather production and shoe manufacturing.
- Shifts in fashion trends and consumer preferences towards premium and customized footwear.
- The impact of global economic conditions and raw material costs on pricing and market growth.