In 2024, Italy clearly leads the European Number of High Growth Enterprises in Leather Products with a 78.78% share, followed by Portugal at 8.57% and Romania at 4.82%. Hungary, Slovakia, Lithuania, Latvia, and Norway hold smaller shares, ranging from 2.68% to 0.13%. The year-on-year variations indicate notable declines for Portugal (-12.53%) and Lithuania (-12.94%), while Italy and Romania saw modest increases of 2.89% and 2.38%, respectively. Latvia experienced a drastic decline of 100%, and Norway saw no change.
Considering a longer period, the compound annual growth rates (CAGR) over the last five years reveal Italy's dominant, consistent growth contrasted with significant fluctuations in other countries. The trends indicate potential challenges for peripheral markets like Lithuania and Latvia, whereas core markets such as Italy remain robust.
Looking ahead, future trends to watch include the potential recovery in smaller markets like Latvia and new technological advancements in leather production which could drive growth in lagging countries. Additionally, sustainability practices may play a critical role in shaping competitive advantages across the industry.
Top countries in Number of High Growth Enterprises in Leather Products Share by Country (Units (Enterprises))
| # | 8 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 78.78 | 2023 | +22.25% | +2.89% | View data |
| 2 | 2 Portugal | 8.57 | 2023 | -8.57% | -12.53% | View data |
| 3 | 3 Romania | 4.82 | 2023 | +20% | +2.38% | View data |
| 4 | 4 Hungary | 2.68 | 2023 | +11.11% | -1.89% | View data |
| 5 | 5 Slovakia | 1.47 | 2023 | 0% | -3.29% | View data |
| 6 | 6 Lithuania | 0.4 | 2023 | 0% | -12.94% | View data |
| 7 | 7 Latvia | 0.13 | 2023 | -100% | -100% | View data |
| 8 | 8 Norway | 0.13 | 2023 | 0% | View data |
