The import of handbags with an outer surface of leather to the US is forecasted to rise steadily from $2.2943 billion in 2024 to $2.5372 billion in 2028. Compared to 2023, the year-on-year growth rate begins weakly but strengthens over the coming years, showing consistent increases. The compound annual growth rate (CAGR) over this period denotes a stable growth trend in this luxury goods segment.
Future trends to watch for include:
- Shifts in consumer preferences towards sustainable and ethically sourced leather may impact imports.
- Economic conditions and disposable income variations in the US could influence demand for luxury goods like leather handbags.
- Innovations and trends within the fashion industry might alter the trajectory of growth.
- Foreign trade policies and tariffs on imports might affect cost dynamics and import volumes.