In the Japanese leather products sector, the forecast indicates a declining trend in value added, from 119.53 billion yen in 2024 to 108.62 billion yen in 2028. Compared to the 2023 actual value, this marks a noticeable downward trajectory. Year-on-year changes reveal a steady decrease of approximately 2-3% annually. Over this five-year span, the compound annual growth rate (CAGR) stands at a negative value, signifying an average yearly contraction.
Future trends to watch include potential shifts in consumer preference towards sustainable or alternative materials, regulatory changes, and how the global economic environment might influence Japan's leather industry, from production costs to export competitiveness.
