Forecast: Production of Textiles, Wearing Apparel, Leather Products in Austria

From 2013 to 2015, the production of textiles, wearing apparel, and leather products in Austria saw moderate growth, peaking at €3.28 billion in 2015. However, a decline began in 2016, with a significant drop in 2020, stabilizing somewhat in the subsequent years. In 2023, the industry's value stood at €2.69 billion. Over the last two years (2022 to 2023), the industry saw a year-on-year decrease of 1.47%. The Compound Annual Growth Rate (CAGR) over the last five years indicates an average annual decline of 1.34%. Forecasts predict a continued decline with a 5-year CAGR of -1.28% from 2024 to 2028, amounting to a 6.24% decrease over this period.

Future trends to watch for:

- The impact of automation and digitalization in the production processes- Shifts in consumer demand towards sustainable and eco-friendly products- Potential supply chain disruptions or innovations- Regulatory changes and their effects on production costs and efficiency