As of 2023, business enterprise R&D expenditure in China's manufacture of leather and related products stood at USD 2.5 billion PPP (2015). The forecasted data indicates a steady growth trend: 2024 to 2028 shows a year-on-year increase of 5.66%, 5.00%, 5.00%, and 4.53%, respectively, from USD 2.65 billion to USD 3.23 billion. The five-year CAGR from 2024 to 2028 is approximately 5.04%.
Future trends to watch: Companies may focus on sustainable leather processing technologies, aligning with global environmental initiatives. Innovations in artificial intelligence and automation could also significantly influence R&D spending patterns in this sector.
