The turnover in the leather products market in Italy demonstrated fluctuating trends over the past decade. Actual data from 2013 to 2023 shows periods of growth and decline, with significant drops in 2015, 2016, and notably in 2020, due to the pandemic impacts, which was followed by strong rebounds in 2021 and 2022. As of 2023, the turnover reached 30.17 billion euros, marking a 6.19% year-on-year growth. The CAGR over the past five years reflects a modest average annual growth rate of 0.11%. Projected data forecasts steady but slow growth through 2028, with a forecasted five-year CAGR of 0.67% and an overall growth rate of 3.4% until 2028.
- Watching future trends: - Increasing demand for sustainable and eco-friendly leather products. - Impact of technological innovations in manufacturing. - Shifts in consumer preferences toward high-quality and luxury leather goods. - Global economic factors influencing export demand.
