The leather products turnover in Spain shows a fluctuating trend over the past decade. After a steady increase from 2013 to 2015, the market faced a slight decrease in 2016, followed by relatively stable values from 2017 to 2018. However, in 2020 the market saw a significant decline, attributed mainly to the pandemic's impact. Recovery began in 2021, with gradual year-on-year growth leading to a value of 4.27 Billion Euros in 2023. Notably, the compound annual growth rates (CAGR) since 2013 depict a market challenged by periods of decline, particularly post-2020.
Year-on-year analysis indicates:
- 2013: 7.37%
- 2014: 11.58%
- 2015: 5.21%
- 2020: -20.4%
- 2021: 12.9%
- 2022: 6.27%
- 2023: 3.72%
Average annual variation over the last five years (CAGR) until 2023 stands at -0.93%, with a forecast CAGR of -0.4% for 2024-2028. This indicates expectations of a slight decline in the coming years, with the market value anticipated to decrease to approximately 4.16 Billion Euros by 2028.
Trends to watch for in the coming years include potential impacts of sustainable and eco-friendly leather alternatives, technological innovations in leather production, and changes in consumer demand patterns influenced by ongoing economic conditions.
