The leather products production value in Norway is projected to decrease significantly over the next five years. Standing at 12.41 million euros in 2023, it is forecasted to fall to 10.89 million euros in 2024, reflecting a year-on-year decrease of 12.3%. This downward trend continues with projected values of 9.44 million euros in 2025 (-13.3%), 8.02 million euros in 2026 (-15.0%), 6.64 million euros in 2027 (-17.2%) and 5.27 million euros in 2028 (-20.6%), resulting in a compound annual growth rate (CAGR) of -15.5% over this period.
Future trends to watch for include shifts in consumer preferences towards sustainable and synthetic alternatives, potential impacts of trade policies and economic fluctuations, technological advancements in leather production, and broader market dynamics within the European Union that could affect Norway's leather industry.
