The Footwear with Uppers of Leather market in China exhibited significant fluctuations over the past decade. Starting from 20.752 billion USD in 2012, the market saw strong growth through to 2015. However, from 2016, the market faced a downturn, experiencing declines in both 2016 and 2017. A recovery began in 2018, peaking in 2019 with values of 32.455 billion USD, only to face another decline during the 2020 pandemic year. The market managed some recovery post-2020, stabilizing around 31.238 billion USD in 2022. The overall trend from 2012 to 2022 indicates a market that has seen periods of both growth and contraction, influenced by varying economic conditions and external factors.
Recent years have shown more muted growth, with a year-on-year increase of only 2% in 2022 and a CAGR of 2.49% over the past five years. For 2023, the market value is expected to have continued this trend.
Future trends to watch for include the impacts of economic recovery post-pandemic, consumer spending patterns in the luxury goods sector, and potential shifts towards more sustainable fashion practices. Market players should pay close attention to these indicators to gauge future performance.
How does China rank in Footwear with Uppers of Leather Market Size Value?
| # | 40 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 36,953,000,000 | 2023 | +6.57% | +4.42% | |
| 2 | 2 Germany | 16,242,000,000 | 2023 | +0.99% | -0.53% | View data |
| 3 | 3 France | 15,727,000,000 | 2023 | +0.27% | +0.32% | View data |
| 4 | 4 United Kingdom | 11,384,000,000 | 2023 | -1.22% | -1.02% | View data |
| 5 | 5 Spain | 5,620,100,000 | 2023 | -0.023% | +0.9% | View data |
