In 2023, the leather products sector in Italy had a presence of approximately 9.75 thousand enterprises. The forecast indicates a significant decline in the number of enterprises from 2024 through 2028. With projected yearly decreases, the sector is expected to shrink by approximately 15% year-on-year from 2024 onward, culminating in a compounded annual growth rate (CAGR) of around -17.6% over five years.
Future trends to watch for:
- Increasing competition and potential market consolidation.
- Shifts in consumer preferences towards sustainable leather alternatives.
- Technological advancements impacting production efficiencies and market entry barriers.
- Economic policies and trade agreements influencing the leather industry landscape.
