In 2023, Italy dominated European R&D expenditure in leather products manufacturing, significantly outspending other nations with €86.96 million. Portugal and Spain followed with modest investments of €6.59 million and €6.28 million respectively. The smaller markets, such as Poland, Sweden, Czech Republic, and Hungary, contributed minimally, collectively offering under €2 million. Over a year, Italy saw a slight reduction in R&D spending (-3.03%), contrasting with Portugal and particularly Poland, which displayed growth, 6.24% and 12.54% respectively. Sweden's investment remained constant, whereas Czech Republic experienced a moderate increase of 2.09%.
Future trends to watch include Italy's potential recovery and growth in R&D investments, supported by an emphasis on innovation within the EU's Green Deal. Portugal's and Poland's escalating investments may indicate strategic shifts towards value-added leather goods, reflecting increased competition and the pursuit for technological advancements. Keeping an eye on sustainability trends and digital transformation within the leather sector will be crucial for predicting future R&D directions.
Top countries in Business Expenditure on R&D in Leather Products Manufacturing Share by Country (Million Euros)
| # | 7 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 86.96 | 2023 | +5.58% | -3.03% | View data |
| 2 | 2 Portugal | 6.59 | 2023 | +8.86% | +6.24% | View data |
| 3 | 3 Spain | 6.28 | 2021 | View data | ||
| 4 | 4 Poland | 0.73 | 2023 | +8.71% | +12.54% | View data |
| 5 | 5 Sweden | 0.66 | 2023 | +32.57% | View data | |
| 6 | 6 Czech Republic | 0.25 | 2023 | +3.18% | +2.09% | View data |
| 7 | 7 Hungary | 0.068 | 2021 | View data |
