The Belgian market for handbags with an outer surface of leather per capita showed a positive trend between 2013 and 2023, peaking at $13.44 in 2023. A notable decline occurred in 2020, likely due to the pandemic's impact, with a 17% decrease from the previous year. However, recovery was swift with a 20.8% increase by 2021, and the market has stabilized since with a modest annual growth rate. Analyzing the five-year period until 2023, the Compound Annual Growth Rate (CAGR) stands at 2%.

Future trends to watch for include shifts in consumer preferences towards eco-friendly and sustainably sourced materials, potentially impacting demand for traditional leather products, as well as continued advancements in e-commerce and digital marketing influencing purchasing behaviors.

Download as XLS

More about Leather Industry 2025-2029