The forecast for turnover in leather products in Spain shows a declining trend from 2024 to 2028. Starting at 832.5 million Euros in 2024, the value decreases to 699.4 million Euros by 2028. This represents a consistent year-on-year decline of roughly 4-5%. The year-on-year variations are:
- 2025: -5.1%
- 2026: -4.5%
- 2027: -4.0%
- 2028: -3.4%
Looking at the compound annual growth rate (CAGR) from 2024 to 2028, we observe an average annual decrease of 3.8%. In 2023, actual data showed the turnover at a higher level, indicating a shift towards a downward trajectory starting from 2024.
Future trends to watch for include shifts in consumer preferences towards sustainable and synthetic materials, potential trade regulations affecting leather imports and exports, and technological advancements in leather product manufacturing. Close monitoring of these factors will be essential for businesses in the leather industry to adapt and optimize their strategies effectively.
