The leather products production value in France demonstrated a steady increase from 2014 to 2019, peaking at 6.68 billion Euros in 2019. However, due to the impact of the COVID-19 pandemic, the value significantly dropped to 5.57 billion Euros in 2020, but rebounded strongly in the subsequent years, reaching 7.34 billion Euros in 2023.
Year-on-year variation highlights notable fluctuations: significant increases in 2021 (24.35%) and a modest growth in 2022 (3.05%) and 2023 (2.9%). The last 5-year CAGR stands at 4.34%, reflecting the resilience and recovery trajectory of the industry post-pandemic.
Future projections from 2024 to 2028 indicate a continued growth trend, albeit at a slower pace, with an expected 5-year CAGR of 2.16%. By 2028, production value is forecasted to reach 8.42 billion Euros, indicating a cumulative growth of 11.27% over the next five years.
Future Trends to Watch For:
Industry stakeholders should watch for:
- Innovations in sustainable leather production methods.
- Impact of global trade policies on production and export.
- Shifts in consumer preferences towards eco-friendly and high-quality leather products.
