Based on the forecast data, the import value of footwear, gaiters, and parts thereof to Thailand is expected to increase steadily from 2024 to 2028. The actual import value in 2023 was $635.45 million. For the year 2024, the forecasted value stands at $659.57 million, showcasing a year-on-year (YoY) growth of 3.8%. This positive trend continues into 2025 with an estimated value of $686.08 million, reflecting a YoY increase of 4.0%. The growth remains consistent in subsequent years: 3.8% in 2026 ($712.05 million), 3.6% in 2027 ($737.51 million), and 3.4% in 2028 ($762.46 million).
The compounded annual growth rate (CAGR) over the five-year period from 2024 to 2028 is approximately 3.72%, indicating a persistent and moderate upward trend in imports.
Future trends to watch for include potential changes in consumer preferences towards eco-friendly and sustainable footwear options, the impact of trade policies on import tariffs, and any global supply chain disruptions that may affect the availability and cost of imported footwear. Monitoring how technological advancements in production and material science influence the market will also be important.
