The leather apparel market in Portugal has shown fluctuations over the past decade, with a significant decline from 2013 onwards, where the market stood at 25.58 million Euros, eventually reaching 20.122 million Euros in 2023. The market faced a notable downturn in 2018, and despite minor recoveries, it has largely been on a negative trajectory with a slight decrease over the past two years. The compounded annual growth rate over the last five years showed a consistent decline, averaging -0.79% year-on-year.
Future trends to watch for include:
- Potential rebounds in leather fashion demand post-2024.
- Shifts in consumer preferences towards sustainable and cruelty-free products.
- The impact of economic conditions on luxury apparel spending.
- Technological advancements in leather processing.
