Shoe & Footwear Manufacturing in Canada - Industry Market Research Report

Wrong Foot: a Depreciating Dollar Will Likely Make Industry Products More Affordable Internationally

Due to high levels of recent economic volatility, the Canadian shoe and footwear manufacturing industry has experienced significant fluctuations in performance over the past five years. Competition from imports and the effect of the pandemic have contributed to unstable industry revenue growth. The appreciation of the Canadian dollar relative to its trading partners during the period has encouraged demand for increasingly affordable imports while also increasing price competitiveness domestically. Consumer demand for footwear has been predominantly satisfied by competitively priced products manufactured in developing countries. However, over the past five years, revenue has been growing at a CAGR of 0.7%, and is expected to reach $277.4 million in 2023. This includes an expected 0.8% drop in 2023. Profit is expected to slump to 3.5% of revenue in 2023 from 6.9% in 2018.

The Shoe and Footwear Manufacturing industry in Canada manufactures footwear for adults and children. Orthopedic footwear and specialist athletic footwear, such as skates or roller blades, are not included.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.