Between 2013 and 2023, the leather products turnover in Germany showed fluctuating trends. After experiencing a peak growth of 7.57% in 2014, the industry saw varying rates, ending with a slight decrease of 0.13% in both 2022 and 2023. The Compound Annual Growth Rate (CAGR) over the last five years was -1.85%. By 2023, the turnover stood at 3.05 billion Euros. Forecasted data from 2024 through 2028 suggests a steady turnover around 3.03-3.04 billion Euros, with a forecasted five-year CAGR of -0.1% and an overall growth rate of -0.52%.
Future trends to watch for:
• The impact of sustainable and ethically sourced leather products on market demand.• Digital transformation and e-commerce growth in the leather industry.• Economic instabilities and their potential effects on luxury item purchasing behaviors.• Changes in consumer preferences towards synthetic or alternative materials.
