U.S.: Market for All other leather good and allied product 2024

Market Size for All other leather good and allied product in the U.S.

In 2021, the U.S. market for all other leather good and allied product increased by 28% to $X, rising for the fifth year in a row after two years of decline. Overall, consumption showed a slight expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Production of All other leather good and allied product in the U.S.

In value terms, production of all other leather good and allied product rose slightly to $X in 2021. The total output value increased at an average annual rate of +2.0% over the period from 2013 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 8.6%. Production of peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of All other leather good and allied product

Exports from the U.S.

In 2021, after four years of decline, there was significant growth in overseas shipments of all other leather good and allied product, when their volume increased by 18% to X tons. In general, exports, however, showed a abrupt slump. The growth pace was the most rapid in 2016 with an increase of 224%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of all other leather good and allied product expanded sharply to $X in 2021. Over the period under review, exports, however, continue to indicate a noticeable shrinkage. Over the period under review, the exports of reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico (X tons), Vietnam (X tons) and Canada (X tons) were the main destinations of exports of all other leather good and allied product from the United States, together accounting for 63% of total exports. These countries were followed by Indonesia, China, the Dominican Republic, Hong Kong SAR, Chile, the Netherlands and the UK, which together accounted for a further 23%.

From 2013 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +11.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Canada ($X), Mexico ($X) and Vietnam ($X) were the largest markets for all other leather good and allied product exported from the United States worldwide, with a combined 66% share of total exports. China, Indonesia, the Netherlands, Hong Kong SAR, the UK, the Dominican Republic and Chile lagged somewhat behind, together comprising a further 16%.

Among the main countries of destination, Indonesia, with a CAGR of +25.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for all other leather good and allied product stood at $X per ton in 2021, waning by -8.3% against the previous year. Overall, the export price, however, recorded strong growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 929% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the Dominican Republic ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+32.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of All other leather good and allied product

Imports into the U.S.

After two years of decline, supplies from abroad of all other leather good and allied product increased by 32% to X tons in 2021. Overall, imports, however, showed a slight shrinkage. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of all other leather good and allied product soared to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports of reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest all other leather good and allied product supplier to the United States, accounting for a 57% share of total imports. Moreover, imports of all other leather good and allied product from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fourfold. The third position in this ranking was taken by Cambodia (X tons), with an 8.1% share.

From 2013 to 2021, the average annual growth rate of volume from China stood at -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+11.9% per year) and Cambodia (+87.6% per year).

In value terms, China ($X), Mexico ($X) and Cambodia ($X) appeared to be the largest all other leather good and allied product suppliers to the United States, with a combined 55% share of total imports.

In terms of the main suppliers, Cambodia, with a CAGR of +101.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for all other leather good and allied product stood at $X per ton in 2021, dropping by -2.6% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 24%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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