The forecast data for Germany's production of luggage, handbags, saddlery, and harness shows a declining trend from 2024 to 2028, starting at 2.2356 million items in 2024 and decreasing to 2.0064 million items by 2028. This represents a year-on-year decrease of approximately 2.6% in 2025 and a consistent downward trend through 2028. In 2023, actual production stood at a higher level, thus highlighting the forecasted decline.
Considering these projections, the compound annual growth rate (CAGR) from 2024 to 2028 reflects a negative trajectory, indicating an average annual reduction in production over five years.
Future trends to watch include potential impacts of economic conditions on consumer spending, evolving fashion preferences, sustainability demands, and trade policy changes. These factors may further influence production volumes and industry dynamics in Germany.
