Following a lacklustre 2016 in terms of production volumes, the leather industry is set to experience a turnaround over the course of the current year, according to new research.
Based on data from the Première Vision Barometer – a tool launched last year by trade fair organiser Première Vision to “study the economy of creative materials for fashion” – the leather industry saw production volumes decline 0.8% year-on-year in 2016.
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The Barometer uses data derived from the responses provided by Première Vision Paris exhibitors, weavers at Première Vision Fabrics and tanners at Première Vision Leather, to form an overview of how healthy the sector is and how the creative fashion industry is changing.
“Exhibiting companies oriented towards the luxury markets are registering changes in the global market trend, with the Leather World Production index of mature economies posting a 0.5% decline,” says the report.
The Textile Index revealed an average increase of 1.7% in volume when compared to the year before, with the strongest performances coming from Europe.
However, in terms of the outlook for 2017, performance for the leather industry seems “more buoyant.”
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By GlobalData“Manufacturing volumes appear to have stopped declining. Some even speak of an actual turnaround, with a significantly higher upturn in orders,” it says.
The report does, however, note the challenge the US is facing with the “transformation of retail to digital.” Europe, on the other hand, it says “looks undoubtedly more dynamic.”
Exhibitors also pointed out three industry trends that are growing in strength: The relocation of raw material purchases and manufacturing produced in Euromed; a shortening of time-to-market; and the search for exclusives to bolster creativity.
