In 2023, the business enterprise R&D expenditure in the manufacture of textiles, wearing apparel, leather, and related products in Canada was recorded at approximately $35.2 million USD PPP. The forecast for 2024 to 2028 shows a declining trend, with expenditures slightly decreasing each year from $35.05 million to $34.05 million. The projected compound annual growth rate (CAGR) over the five-year forecast period reflects a negative average variation, indicating a cautious outlook for innovation investment in this sector.
Future trends to watch for include potential shifts in R&D focus due to sustainability pressures, technological advancements in textiles, and evolving consumer preferences towards environmentally friendly and ethically produced goods.
