The forecast for leather clothes production value in Spain indicates a continuous decline from 2024 to 2028. Starting from 1.2 million Euros in 2024, the production value is expected to decrease incrementally each year, reaching 0.8 million Euros by 2028. Compared to the actual value in 2023, which stood at 1.3 million Euros, the year-on-year variations show a consistent downward trend: -7.7% in 2024, -8.3% in 2025, -9.1% in 2026, -10% in 2027, and -11.1% in 2028. The Compound Annual Growth Rate (CAGR) over this five-year period is -10.1%, reflecting a significant annual decline.
Future trends to watch for:
- Potential impact of sustainable fashion on leather production.
- Changing consumer preferences and the rise of alternatives to leather.
- Economic factors and their influence on the luxury market segment.
- Regulatory changes related to animal welfare and environmental concerns.
