The market size value for sports footwear with uppers of leather in China peaked in 2016 at $1052.7 million, experiencing a subsequent general decline. In 2023, this market stood at $896.29 million, indicating a steady downward trend over the past several years. The analysis shows significant fluctuations, such as a notable dip in 2017 followed by minor recoveries and continuous downward adjustments from 2019 onwards. From 2018 to 2023, the market realized a negative Compound Annual Growth Rate (CAGR) at -1.62%. Forecasts from 2024 to 2028 predict continued decline with a projected CAGR of -1.22% over the next five years.
Future Trends to Watch For:
-Increasing consumer preferences for synthetic and alternative materials could further impact the leather footwear segment negatively.
-Technological advancements in footwear manufacturing may shift production away from traditional leather materials.
-Sustainability trends and regulatory pressures may lead to changes in material usage and market dynamics.
