The production value in the Luggage, Handbags, Saddlery, and Harness sector in France exhibited a strong growth trajectory from 2013 to 2023, with the value standing at 7.6 billion Euros in 2023. The year-on-year variation showed notable fluctuations. A significant increase of 29.07% occurred in 2014, followed by a series of positive growth rates leading to 2019. The impact of 2020 due to external factors saw a decline of 11.42%, but the sector rebounded with substantial growth of 13.83% in 2021 and 12.81% in 2022. By 2023, growth remained strong at 10.6%. The CAGR over the last five years (2019-2023) averaged at 8.16%, indicating consistent upward momentum.
Looking ahead, the forecast period from 2024 to 2028 anticipates a more moderated yet positive annual growth trend with a CAGR of 4.9% over the next five years, accumulating to a total growth rate of 27.04% by 2028. This indicates a steady increase in production value, projected to reach 10.38 billion Euros by 2028.
Future trends to watch for include the increasing impact of sustainability and eco-friendly products, advancements in production technologies, and potential shifts in consumer preferences towards digital and customized product offerings. These factors could further influence the sector's dynamics and growth rate.
