The French market for leather of bovine or equine animals has exhibited significant fluctuations from 2013 to 2023. Starting with a value of USD 1.4999 billion in 2013, the market faced a decline in the following years, reaching a low of USD 1.3097 billion in 2016. A notable recovery was witnessed in 2017, with the market value increasing to USD 1.729 billion, driven by a 32.01% year-on-year growth. However, the market experienced further volatility, marked by substantial drops in 2019 and 2020, before regaining momentum with a 20.81% increase in 2021. As of 2023, the market stood at USD 1.6479 billion, reflecting a modest growth trend.
Looking forward to the forecast period from 2024 to 2028, the market is expected to demonstrate steady but moderate growth. The forecasted 5-year CAGR is 0.21%, with the market projected to reach USD 1.6701 billion by 2028. Despite the overall stabilization, the average annual growth rate is anticipated to be low, at around 0.21%.
Future trends to watch for include:
- Market recovery post-economic slowdowns or global disruptions.
- Changes in consumer behavior towards sustainable and ethical sourcing of leather.
- Technological advancements in leather production and alternative materials.
Monitoring these factors will be critical for stakeholders aiming to navigate and capitalize on future market dynamics effectively.
