The market for Footwear with Uppers of Leather in South Africa has experienced notable fluctuations over the years. From 2012 to 2016, the market size declined steadily, culminating in a significant drop in 2020, partly due to the global disruptions caused by the COVID-19 pandemic. Post-2020, the market showed resilience with a robust recovery observed in 2021, followed by a slight decline in 2022.
Recent year-on-year variations indicate:
- 2021: +20.38% increase
- 2022: -0.086% decrease
Over the last five years, the Compound Annual Growth Rate (CAGR) stands at 1.07%, showing an overall modest average annual growth. The year 2023 saw the market value standing close to that of 2022, with a slightly optimistic outlook for 2024 based on forecasted data.
Future trends to watch for include:
- An increasing demand for sustainable and eco-friendly leather footwear.
- Technological advancements in manufacturing to reduce costs and enhance product quality.
- Shifting consumer preferences towards more upscale and durable footwear.
- Potential economic impacts and recovery patterns post-pandemic.
How does South Africa 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% | View data |
| 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 |
| 13 | 13 Belgium | 1,143,000,000 | 2023 | -2.44% | -2.29% | View data |
| 14 | 14 Norway | 909,290,000 | 2023 | -1.19% | -1.7% | View data |
| 15 | 15 South Africa | 844,110,000 | 2023 | -0.084% | +0.047% | |
| 16 | 16 Mexico | 826,130,000 | 2023 | -2.7% | -3.02% | View data |
| 17 | 17 Greece | 789,920,000 | 2023 | +0.11% | -0.19% | View data |
