The value added in the footwear sector in South Korea stood at X billion South Korean Wons in 2023. Based on the forecast data, the sector is expected to grow consistently over the coming years:
-2024: 216.3 billion KRW
-2025: 217.74 billion KRW
-2026: 219.15 billion KRW
-2027: 220.53 billion KRW
-2028: 221.89 billion KRW
Year-on-year variations for 2024-2028 exhibit moderate growth in the footwear sector, with the following percentage changes:
-2024-2025: +0.67%
-2025-2026: +0.65%
-2026-2027: +0.63%
-2027-2028: +0.62%
The compound annual growth rate (CAGR) over the five-year forecast period is approximately +0.64% annually.
Future trends to watch for include advancements in sustainable materials and production processes, growth in online footwear sales, and shifting consumer preferences towards personalized and high-comfort footwear.
