The turnover in Turkey's leather products sector has been forecasted to show consistent growth from 2024 to 2028. The value in 2023 stood at 28.08 billion New Turkish Liras. In the upcoming years, the turnover is expected to rise, starting at 29.61 billion New Turkish Liras in 2024, reaching up to 36.15 billion New Turkish Liras by 2028. The year-on-year variation indicates a steady increase, with an average annual growth rate (CAGR) of approximately 5.1% over the five-year period.
Future trends to watch for include:
- Increasing demand for eco-friendly and sustainable leather products.
- Advancements in production technologies enhancing efficiency.
- Rising export potential due to improved quality standards.
- Shifts in consumer preferences towards premium and luxury leather goods.
- Potential impacts of global economic conditions on international trade.
