In 2023, the actual import of handbags with an outer surface of leather to the US was less than the projected $32.899 million for 2024. The forecasts from 2024 to 2028 predict a steady annual increase in imports, culminating in $33.659 million by 2028. Year-on-year, the import value is set to grow incrementally by approximately 0.60% to 0.70% annually between 2024 and 2028. The Compound Annual Growth Rate (CAGR) for the period from 2024 to 2028 is approximately 0.57%.
Future trends to watch for:
- Sustainability influencing material choice, potentially affecting leather imports.
- Evolving consumer preferences towards digital and e-commerce will influence distribution channels.
- The economic impact of geopolitics on international trade agreements and tariffs.