The Canadian market for footwear outer soles and heels of rubber or plastic is forecasted to decline steadily from 2024 to 2028. In 2023, the market was valued at around 17.5 million USD. From 2024, with an initial value of 16.032 million USD, the market will experience a year-on-year decline, with a predicted 28% drop over the five-year period leading to 2028. The compound annual growth rate (CAGR) for this period is estimated to be negative, reflecting an average yearly contraction in market size.

Future trends to watch for include:

Shifts in consumer preferences towards eco-friendly and sustainable materials.
Technological advancements in manufacturing processes, potentially altering cost structures and market dynamics.
Fluctuations in raw material costs impacting overall market value.