The Belgian market for articles for pocket or handbag with an outer surface of leather decreased steadily from 2013 to 2023, with the market size value standing at $23.817 million in 2023. The year-on-year decline was particularly notable over the last two years, with a drop of 8.55% in 2023 following a 7.95% decline in 2022. The compounded annual growth rate (CAGR) for the past five years stands at -8.35%, indicating a persistent contraction over time.
Future trends to watch for include:
- Potential shifts towards sustainable and alternative materials, driven by consumer preferences for environmentally-friendly products.
- The impact of economic recovery post-pandemic on consumer spending and potential market stabilization or growth.
- The influence of fashion trends and cross-industry collaborations enhancing product appeal.
| # | 19 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 937,780,000 | 2023 | +4.12% | +3.7% | View data |
| 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 |
| 9 | 9 New Zealand | 35,757,000 | 2023 | +1.46% | +0.64% | View data |
| 10 | 10 Greece | 29,331,000 | 2023 | +1.04% | +0.93% | View data |
| 11 | 11 Belgium | 23,817,000 | 2023 | -8.55% | -8.35% | |
| 12 | 12 Ireland | 22,339,000 | 2023 | +2.94% | +3.49% | View data |
| 13 | 13 South Africa | 20,310,000 | 2023 | -2.48% | -3.32% | View data |
