The production of luggage, handbags, saddlery, and harness in Spain has shown varied trends from 2013 to 2023. In 2023, the value was 801.81 million euros, reflecting an 11.98% increase year-on-year. Over the past decade, the sector fluctuated, with significant growth in 2014 (10.65%) and 2018 (13.63%), contrasted by a notable decline in 2020 (-25.62%) due to external factors. The recent completed five-year period showed a CAGR of 3.75%, demonstrating modest and positive growth.
Future trends indicate potential growth with forecasted values reaching up to 1030.4 million euros by 2028, with a projected five-year CAGR of 3.96%. The forecasted five-year growth rate stands at 21.44%, suggesting a steady upward trend.
Future trends to watch for:
- Technological advancements in manufacturing processes
- Shifts in consumer behavior towards sustainable and eco-friendly products
- The impact of global economic conditions and trade policies
