Based on the data provided, the production of leather products in Austria is forecasted to slightly decline from 2024 to 2028. In 2023, the production stood at 787.02 million euros, indicating that the industry has experienced a steady but modest decrease in value. Year-on-year percentage variations show a consistent downward trend with small changes annually.
- 2023 to 2024: -0.21%
- 2024 to 2025: -0.21%
- 2025 to 2026: -0.20%
- 2026 to 2027: -0.20%
- 2027 to 2028: -0.20%
The Compound Annual Growth Rate (CAGR) over the last five years is -0.21%, indicating a minor but consistent decline.
Future trends to watch for include shifts in consumer preferences towards sustainable and ethically produced leather goods, advancements in leather processing technologies, and potential economic factors that could impact the demand and production costs of leather products in Austria.
