The French market for footwear with uppers of leather stood at 15.727 Billion US Dollars in 2023. Over the past decade, the market has seen significant fluctuations with major downturns in 2015 and 2020, followed by a strong recovery in 2021. The last two years exhibited minimal year-on-year growth rates of 0.28% in 2022 and 0.27% in 2023. The CAGR over the past five years has been 0.32%, indicating sluggish growth.
Looking ahead, the forecasted data from 2024 to 2028 indicates a stable yet slow growth trend with an average annual growth rate (CAGR) of 0.22%. Total market value is expected to reach approximately 15.951 Billion US Dollars by 2028, reflecting a 1.12% overall growth during the forecast period.
Future trends to watch for:
- Innovations in sustainable and ethically sourced leather materials
- Expansion of e-commerce and digital retail channels
- Shifts in consumer preferences towards high-quality, durable footwear
- Impact of global economic conditions on luxury goods expenditure
