From 2013 to 2023, the Australian market for pocket or handbag articles with an outer leather surface demonstrated notable fluctuations, rising from $333.48 million to $455.91 million. Significant growth was observed in 2016 and 2021, validated by year-on-year increases of 17.61% and 23.79%, respectively. However, dips occurred, particularly in 2020 with an 11.78% decrease linked to global disruptions. The average annual growth rate (CAGR) over the last five years was 1.51%, reflecting moderate growth.
Looking forward, market trends could be influenced by shifts towards sustainable and ethical sourcing of leather, technological advancements in production, and evolving consumer preferences favoring unique, high-quality designs.
| # | 19 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 937,780,000 | 2023 | +4.12% | +3.7% | View data |
| 2 | 2 Germany | 747,610,000 | 2023 | +0.18% | +0.31% | View data |
| 3 | 3 Australia | 455,910,000 | 2023 | +2.5% | +1.51% | |
| 4 | 4 Spain | 270,460,000 | 2023 | -0.84% | -1.32% | View data |
| 5 | 5 Netherlands | 152,920,000 | 2023 | +0.58% | +0.49% | View data |
