The market size for footwear with uppers of leather in Mexico has shown a steady decline over the past decade. Peaking in 2013 at $1.4473 billion, the value decreased consistently, reaching $0.82613 billion in 2023—a fall of roughly 43%. The last two years saw a marginal decline of -1.43% and -2.7% year-on-year, respectively. The compound annual growth rate (CAGR) over the past five years was -3.02%.

Forecasts indicate that the market will continue on a downward trajectory, with an anticipated value of $0.62838 billion by 2028. This represents a 20.03% decrease over five years, with a forecasted CAGR of -4.37%.

Future trends to watch for:

Impact of consumer preference shifts toward sustainable and synthetic materials.
Potential economic recovery or fluctuation in consumer disposable income.
Changes in trade policies or tariffs affecting leather imports and exports.