The sold production of goat or kid skin leather in Spain stood at 748.2 thousand square meters in 2023, marking a slight decline of 3.47% from the previous year. Over the past two years, the industry experienced a sharp rebound in 2022 with a 70.84% increase followed by a minor contraction in 2023. The five-year compound annual growth rate (CAGR) is -4.26%, indicating a declining trend in the medium term. Notably, the forecasted data suggests a continued downturn with a projected CAGR of -14.26% from 2024 to 2028, driving the volume down to 304.78 thousand square meters by 2028, a decrease of 53.66% over five years.
Future trends to watch for include:
- Potential shifts in consumer demand and preferences for sustainable and alternative materials which could further impact leather production.
- The influence of economic conditions on the luxury goods market, where high-quality leather is often utilized.
- Technological advancements in leather processing and synthetic alternatives that could disrupt traditional manufacturing practices.
- Environmental regulations and policies aimed at reducing the environmental footprint of leather production.
