The per capita market size for handbags with outer leather surfaces in Cyprus decreased from $11.48 in 2013 to $8.92 in 2023, reflecting a shrinking market over a decade. When examining recent years, the market showed a slight decline with a 1.75% decrease from 2022 to 2023. Averaging this trend over the last five years (2018-2023), the compound annual growth rate (CAGR) stands at -1.62%, indicating a persistent downward trend.
Future trends to watch include potential market stabilization or reversal, possibly influenced by consumer preferences shifting towards sustainable and ethical fashion, technology in retail, and economic recovery post-pandemic affecting consumer spending.
| # | 22 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 82.51 | 2023 | View data | ||
| 2 | 2 United Kingdom | 52.53 | 2023 | View data | ||
| 3 | 3 Austria | 49.6 | 2023 | View data | ||
| 4 | 4 Netherlands | 45.11 | 2023 | View data | ||
| 5 | 5 Denmark | 35.9 | 2023 | View data | ||
| 8 | 8 Norway | 21.04 | 2023 | View data | ||
| 9 | 9 Ireland | 15.95 | 2023 | View data | ||
| 10 | 10 Cyprus | 8.92 | 2023 | |||
| 11 | 11 Finland | 8.05 | 2023 | View data | ||
| 12 | 12 Montenegro | 7.75 | 2023 | View data | ||
