Jet set: An expected depreciation of the US dollar will make industry goods more attractive, bolstering exports
The Leather Good and Luggage Manufacturing industry has declined through the end of 2023. Consumers have increasingly satisfied their leather goods needs by purchasing inexpensive imported items, while domestic companies net less revenue from exports. Total import revenue continues to dominate the market and goods purchased from overseas businesses are expected to account for a significant share of domestic demand, satisfying 95.2% in 2023. Industry revenue has been shrinking at an average annualized 1.4% over the past five years and is expected to total $3.2 billion in 2023 when revenue slips by an estimated 0.6%. The average industry profit margin, measured as earnings before interest and taxes, is moderate, accounting for 4.9% of revenue in 2023.
Operators in this industry primarily manufacture clothing accessories, including belts, hats, luggage, handbags, wallets and various other leather and nonleather goods and accessories.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
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Methodology
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