The US personal leather goods market experienced fluctuating sales, peaking at $175.19 million in 2013 and dropping to $116.05 million in 2020. After 2021’s recovery surge, sales stabilized around $137.95 million by 2023. A gradual forecasted decline through 2028 suggests a compound annual growth rate (CAGR) of -0.37% over the next five years, with sales expected at $134.77 million by 2028.

Future trends to watch for:

Innovation in sustainable leather alternatives could drive consumer interest and market growth.
E-commerce expansion may influence customer purchasing habits.
Economic factors like inflation and consumer spending habits will impact sales dynamics.