In 2023, the value added of leather products in Brazil stood at 17.45 billion Brazilian Reals. Over the past decade, the industry has experienced fluctuations, including significant setbacks such as a 12.23% drop in 2020, likely due to the pandemic. However, the market rebounded with a 13.99% increase in 2021, followed by continued growth, reaching a year-on-year increase of 5.47% in 2023. Looking ahead, from 2024 onwards, the industry is forecasted to grow steadily, with the value added expected to reach 19.82 billion Brazilian Reals by 2028, showing a 5-year CAGR of 2.02% and an overall 5-year growth rate of 10.53%.
Future trends to watch for include:
- Technological advancements and innovations in leather processing
- Growing awareness and demand for sustainable and eco-friendly leather products
- Potential global economic factors affecting export markets
- Changes in consumer preferences towards synthetic alternatives
