In 2023, the import of handbags with an outer surface of leather to the UAE stood at approximately 4.092 million kilograms. The forecasted data show a steady annual decline in volumes from 2024 to 2028. The year-on-year percentage variations indicate a consistent decrease: -3.05% from 2023 to 2024, -3.04% from 2024 to 2025, -3.08% from 2025 to 2026, -3.11% from 2026 to 2027, and -3.15% from 2027 to 2028. The compound annual growth rate (CAGR) over this five-year period averages out to -3.08% per year.
Future trends to watch for:
- Changes in global leather supply chain dynamics and pricing.
- Shifts in consumer preferences towards sustainable materials.
- Possible trade policy adjustments in the UAE and key export markets.
- The impact of economic conditions on consumer spending power.
