The production value in the luggage, handbags, saddlery, and harness sector in Italy has seen fluctuating trends over the past decade. In 2023, the sector was valued at 9.99 billion Euros. The past decade experienced fluctuations, including a significant drop in 2020 due to potential economic disruptions, followed by a steady recovery. From 2021 to 2023, the sector showed a positive growth trend, with an average annual increase (CAGR) of 2.14% over the past five years. The year-on-year variations hint at a sector gaining stability post-economic disruptions, with a notable 7.8% increase in 2023.
Future trends to watch for:
- Increasing international demand for luxury and artisan goods- Technological advancements in production- Potential impacts of global economic changes- Shifts in consumer preferences towards sustainability- Effects of regulatory changes on production and export
