The market for articles for pocket or handbag with an outer surface of leather in South Korea has shown significant growth over the past decade, reaching a value of $937.78 million in 2023. From 2013 to 2023, the market experienced fluctuations, peaking initially around 2018 before a decline in 2020, likely due to global economic factors. Nonetheless, a recovery followed, with a year-on-year growth of 4.12% in 2023. The compound annual growth rate (CAGR) over the last five years indicates a moderate increase at 3.7%, showcasing resilience despite varying annual performances.
Looking ahead, the market is expected to be influenced by evolving consumer preferences, sustainability trends, and shifts in fashion. The demand for eco-friendly leather alternatives and innovative designs could drive growth, while global economic conditions and technological advancements will also play a critical role in shaping future market dynamics.
| # | 19 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 937,780,000 | 2023 | +4.12% | +3.7% | |
| 2 | 2 Germany | 747,610,000 | 2023 | +0.18% | +0.31% | View data |
| 3 | 3 Australia | 455,910,000 | 2023 | +2.5% | +1.51% | View data |
| 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 |
