The trunks and cases of leather market in South Korea have experienced consistent growth from 2013 through 2023, with an increase from 5.0326 billion USD to 10.639 billion USD. Year-on-year growth exhibited peaks in 2014 and 2019 with increases of 15.84% and 12.22% respectively. Recent trends show a stabilization with a year-on-year growth of around 5% from 2020 to 2023. Over the last five years up to 2023, the market observed a compound annual growth rate (CAGR) of approximately 6.49%.

Forecasting ahead to 2028, the market is expected to grow at a slower CAGR of 3.14%, indicating a maturation phase with a projected overall growth rate of 16.72% from 2024 to 2028.

Future trends to watch for include:

Increasing demand for premium leather products driven by rising disposable incomes and a growing middle class.
Technological advancements in leather processing leading to higher quality and more sustainable products.
Shifts in consumer preferences towards eco-friendly and ethically produced leather goods.