The forecast for leather products' hours worked in Germany indicates a consistent decline from 2024 through 2028. In 2023, the industry stood at approximately 26.04 million hours, which represents the last year of actual data. The projected year-on-year decreases are as follows: 1.84% in 2025, 1.86% in 2026, 1.87% in 2027, and 1.89% in 2028. The compound annual growth rate (CAGR) over this five-year period is expected to be approximately -1.89%.
Future trends to watch for include:
- Potential impacts of automation and technological advancements reducing labor hours.
- Changing consumer preferences towards sustainable and alternative materials.
- Regulatory changes that could affect the leather industry in Germany.