The Cyprus market for handbags with an outer surface of leather experienced a steady decline in size value between 2013 and 2023, peaking in 2013 at $13.128 million. In 2023, the market stood at $10.817 million. Year-over-year variations highlight a significant reduction in 2020 and a brief recovery in 2021, but the overall trend remained negative with sporadic fluctuations. The five-year CAGR was marked at -1.22%, indicating a consistent annual decrease.
Future trends to watch for include:
- Sustainability driving demand for eco-friendly leather products.
- Digital transformation enhancing consumer engagement and sales channels.
- Potential recovery as consumer confidence rebounds post-economic fluctuations.
| # | 22 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 4,268,500,000 | 2023 | +8.13% | +10.75% | View data |
| 2 | 2 United Kingdom | 3,538,300,000 | 2023 | +2.09% | +1.8% | View data |
| 3 | 3 Germany | 2,015,900,000 | 2023 | +2.22% | +2.19% | View data |
| 4 | 4 Spain | 1,260,900,000 | 2023 | +1.89% | +1.56% | View data |
| 5 | 5 India | 978,650,000 | 2023 | +2.59% | +3.37% | View data |
| 17 | 17 Ukraine | 19,517,000 | 2023 | +1.5% | -0.75% | View data |
| 18 | 18 Lithuania | 18,642,000 | 2023 | +4.32% | +4.34% | View data |
| 19 | 19 Cyprus | 10,817,000 | 2023 | -1.31% | -1.22% | |
| 20 | 20 Slovenia | 7,571,400 | 2023 | +1.19% | -0.57% | View data |
| 21 | 21 Montenegro | 4,823,200 | 2023 | +1.48% | +1.04% | View data |
