Since peaking in 2013 at $68.02 million, U.S. leather belt sales have seen a general downturn, stabilizing at $36.45 million in 2020 before a modest rebound. By 2023, the market stood at $40.16 million. The past two years showed minor declines of almost 3% annually. Over the past five years, the market for leather belts has reflected an average annual decline of nearly 2.91%.
Looking ahead, a continued decrease is expected with a CAGR of approximately -2.76% through 2028. This trend includes potential restructuring in the fashion industry, consumer material preference shifts, and economic factors which may impact the market dynamics for leather goods.
