The market for articles of apparel and clothing accessories of furskin in South Korea grew from 2013 to 2023, closing at 341.25 million USD in 2023. Over the past decade, the market demonstrated variable growth with strong gains from 2013 to 2017, a downturn during 2020 due to external factors, and recovery in subsequent years. Notably, the annual growth rate plateaued to 1.21% in 2023. Analyzing the five-year compound annual growth rate (CAGR) reveals a modest growth of 0.93%, reflecting steady yet cautious expansion following economic challenges.
Future trends to watch for include:
- Increased consumer sustainability demands may impact furskin apparel market preferences.
- Technological advancements in manufacturing processes could enhance product quality and reduce costs.
- Global economic shifts might affect luxury consumption patterns, with potential fluctuations in furskin demand.
| # | 6 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 341,250,000 | 2023 | +1.21% | +0.93% | |
| 2 | 2 Spain | 37,011,000 | 2023 | -12.13% | -10.69% | View data |
| 3 | 3 Austria | 33,616,000 | 2023 | -1.79% | -1.78% | View data |
| 4 | 4 Poland | 4,840,800 | 2023 | -8.56% | -8.09% | View data |
| 5 | 5 Uruguay | 4,013,800 | 2023 | -0.18% | +0.69% | View data |
