In 2023, the value added of leather products in the UK was assessed at 447.00 million pounds sterling. From 2024 to 2028, the forecasted data exhibits a steady growth trend. Specifically, the value is expected to rise from 449.31 million pounds in 2024 to 462.57 million pounds by 2028.
Year-on-year variations indicate a consistent but modest annual growth rate:
- From 2024 to 2025: 0.76%
- From 2025 to 2026: 0.74%
- From 2026 to 2027: 0.72%
- From 2027 to 2028: 0.70%
The compound annual growth rate (CAGR) for the period from 2024 to 2028 is approximately 0.73%, reflecting a steady expansion in value added over the five years.
Future trends to watch for include the potential impact of sustainable and ethical manufacturing practices on the leather industry, shifts in consumer preferences towards synthetic alternatives, and changes in trade policies and tariffs post-Brexit that could affect raw material costs and export dynamics.
