From 2013 to 2023, Singapore's leather trunks and cases market experienced fluctuations, showing resilience and adaptability towards the end. The initial value in 2013 was $241.27 per capita, peaking at $294.36 in 2017, followed by mild declines and a rebound to $288.07 in 2023. In the last two years (2022-2023), the market grew by approximately 0.65% annually. The compound annual growth rate (CAGR) for the past five years was around 1.67%, indicating moderate recovery and growth after 2018.
Future trends to watch for include:
- Impact of post-COVID-19 recovery on consumer spending.
- Potential shifts towards eco-friendly and sustainable products.
- Influence of global economic conditions on travel-related purchases.
