The Articles of Apparel of Leather or Composition Leather market in South Korea reached a value of 219.32 million USD in 2023. This figure represents a year-on-year growth of 4.51% compared to 2022. Over the past two years, the market demonstrated substantial consecutive growth, with an average annual increase (CAGR) of 4.13% over the last five years.
- 2021 saw an impressive rise of 11.12%, indicative of recovery and expansion in the market.
- Trends from 2018 to 2023 highlight resilience, particularly post-2020's decline, with continued annual growth.
Future trends to watch for include a growing demand for sustainable and eco-friendly leather alternatives. Additionally, digital transformation in retail could influence consumer purchasing behavior. Monitoring global leather price fluctuations and South Korea's trade policies will also be key in forecasting market dynamics beyond 2024.
How does South Korea rank in Articles of Apparel of Leather or Composition Leather Market Size Value?
| # | 17 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 946,170,000 | 2023 | -3.39% | -4.04% | View data |
| 2 | 2 Germany | 840,990,000 | 2023 | -6.44% | -5.46% | View data |
| 3 | 3 United Kingdom | 688,920,000 | 2023 | -1.29% | -2.36% | View data |
| 4 | 4 Spain | 528,890,000 | 2023 | -3.34% | -2.98% | View data |
| 5 | 5 Japan | 439,210,000 | 2023 | -4.2% | -4.39% | View data |
| 6 | 6 China | 335,230,000 | 2023 | -29.19% | -19.5% | View data |
| 7 | 7 Netherlands | 236,460,000 | 2023 | -1.39% | -1.84% | View data |
| 8 | 8 South Korea | 219,320,000 | 2023 | +4.51% | +4.13% | |
| 9 | 9 Australia | 174,090,000 | 2023 | +0.087% | +0.33% | View data |
| 10 | 10 Canada | 117,740,000 | 2023 | -8.16% | -7.11% | View data |
