In 2023, the turnover in the luggage, handbags, saddlery, and harness sector in Germany stood at approximately 245 million Euros. The forecast for 2024-2028 suggests a consistent decline, with expected values dropping from 225.7 million Euros in 2024 to 152.1 million Euros by 2028. This represents a year-on-year decrease of around 8.5% from 2024 to 2025, accelerating in subsequent years. The compound annual growth rate (CAGR) from 2024 to 2028 is estimated at -8.2%, indicating a significant downward trend.
Future trends to watch for:
- Shifts in consumer preferences towards sustainable and multi-functional items may impact market dynamics.
- E-commerce growth could alter traditional sales channels for luggage and handbags.
- Inflationary pressures and changing travel habits post-pandemic might further influence sector performance.
