The number of employees in the footwear sector in Denmark has seen significant fluctuations over the past decade. From 2013 to 2019, there was general growth despite some declines, peaking in 2019 after a 19.23% year-on-year increase from 2018. However, post-2019, the sector experienced a downturn, with year-on-year declines each year from 2020 to 2023. In 2023, the number of employees stood at 37 units, reflecting a 2.63% decrease from the previous year. The 5-year CAGR up to 2023 was -6.58%, indicating a persistent decrease.
The forecast from 2024 to 2028 projects a continued decline, albeit at a slower pace with a forecasted 5-year CAGR of -1.14%. The number of employees is expected to drop to 34 units by 2028, translating to an overall 5.56% reduction over this period.
Future trends to watch for may include:
- Technological advancements in manufacturing, potentially reducing the need for manual labor.
- Shifts towards sustainable and ethical production practices, which could impact employment numbers either positively or negatively, depending on adoption rates and industry demand.
- Global economic conditions and trade policies which may influence Denmark's footwear sector competitiveness and market dynamics.
