The South African market for leather articles for pockets or handbags saw fluctuating trends from 2013 to 2023. The market shrunk significantly from 31.818 million USD in 2013 to 20.31 million USD in 2023. The industry experienced a notable decline in 2020 at -16.58% year-on-year, though it rebounded to some extent in 2021 with a 17.52% increase. Over the last five years leading to 2023, the market recorded a negative compound annual growth rate (CAGR) of -3.32%.
Looking to the future, potential trends to watch include:
- Increasing consumer interest in sustainable and ethical fashion, potentially boosting demand for eco-friendly leather alternatives.
- Economic fluctuations impacting luxury spending could significantly affect market growth.
- Technological advancements driving innovation in leather quality and design may influence consumer preferences.
| # | 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 |
| 11 | 11 Belgium | 23,817,000 | 2023 | -8.55% | -8.35% | View data |
| 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% | |
| 14 | 14 Colombia | 12,642,000 | 2023 | -3.69% | -4.84% | View data |
| 15 | 15 Hungary | 8,837,100 | 2023 | +0.84% | +0.67% | View data |
