The market size value for Belts and Bandoliers of Leather or Composition Leather in Colombia, expressed in millions of US dollars, showed a declining trend from 2013 to 2023. There was a noticeable reduction from 19.349 in 2013 to 8.9227 in 2023, indicating significant contraction. Over the past decade, the market experienced fluctuations, with notable dips in 2015 and 2020, and marginal recoveries in 2019 and 2021.
Key observations:
- 2023 saw a decrease of 5.67% year-on-year.
- The last five years yielded a compound annual growth rate of -3.53%.
- Heightened decline in year-on-year values observed in years such as 2015 and 2020.
Future trends to watch for include recovery attempts driven by increased demand for premium and customized leather goods, potential influence of increasing consumer preference for sustainable and ethical fashion, and the impact of global economic conditions on disposable income, influencing purchasing behavior in Colombia's leather goods market.
How does Colombia rank in Belts and Bandoliers of Leather or Composition Leather Market Size Value?
| # | 34 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 1,904,800,000 | 2023 | +4.21% | +5.28% | View data |
| 2 | 2 Japan | 555,760,000 | 2023 | -3.11% | -3.69% | View data |
| 3 | 3 Germany | 545,060,000 | 2023 | -0.1% | -0.027% | View data |
| 4 | 4 United Kingdom | 381,420,000 | 2023 | +0.43% | +0.67% | View data |
| 5 | 5 Canada | 190,370,000 | 2023 | +1.43% | +1.74% | View data |
| 21 | 21 Morocco | 9,198,200 | 2023 | -3.12% | -1.94% | View data |
| 22 | 22 Hungary | 8,925,000 | 2023 | -0.93% | -0.29% | View data |
| 23 | 23 Colombia | 8,922,700 | 2023 | -5.67% | -3.53% | |
| 24 | 24 Croatia | 8,308,700 | 2023 | +1.5% | +1.57% | View data |
| 25 | 25 Peru | 7,783,000 | 2023 | +1.1% | +2.32% | View data |
