In 2023, the leather products turnover in the UK stood at €1.52 billion. As we move forward, the forecasted data for the subsequent years shows a steady increase:
● 2024: €1.54 billion
● 2025: €1.56 billion
● 2026: €1.59 billion
● 2027: €1.61 billion
● 2028: €1.63 billion
This represents a year-on-year growth rate of approximately 1.3% from 2024 to 2025, 1.92% from 2025 to 2026, 1.26% from 2026 to 2027, and 1.24% from 2027 to 2028. The compound annual growth rate (CAGR) over the five-year period from 2023 to 2028 is projected to be around 1.42%.
Future trends to watch for include shifts in consumer preferences towards sustainable and ethical products, technological advancements in leather processing, and the impact of economic factors and trade policies on the leather industry in the UK.
