The import of handbags with an outer surface of leather to South Korea has shown fluctuating trends from 2013 to 2023. It reached USD 987.61 million in 2023. While 2014 saw a significant year-on-year variation of 10.69%, there were years like 2015 and 2020 where the imports decreased by 3.76% and 13.15% respectively. More recent years, however, indicate a recovering and growing trend with 2021 and 2022 showing year-on-year variations of 25.71% and 4.08%. The average variation per year over the last five years (CAGR) up to 2023 is 3.68%.

Future trends predict continued growth in the import market, with a forecasted CAGR of 2.77% over the next five years, leading to a 14.65% overall increase by 2028.

Trends to watch for:

Shifts in consumer preferences towards luxury and premium handbags.
Global economic conditions impacting discretionary spending.
Innovations in sustainable and eco-friendly leather alternatives.
Influence of fashion trends and international brand penetration in the South Korean market.