The R&D expenditure for the manufacture of leather and related products in the UK is projected to rise from $8.75 million PPP in 2024 to $10.08 million PPP by 2028. This indicates a steady year-on-year increase, reflecting a positive outlook for the sector. Notably, the projected compound annual growth rate (CAGR) from 2024 to 2028 is approximately 3.56%, suggesting a consistent investment in R&D.

Future trends to watch for include:

Innovation in sustainable materials and processes as environmental concerns grow.
Technological advancements possibly driven by automation and AI.
Shifts in consumer demand influencing R&D focus areas.