Leather Goods Market: Global Industry Analysis and Forecast (2022-2029)

Leather Goods Market size was valued at US$ 288.02 Bn. in 2021. Footwear, one of the segments reviewed in our report dominated the Global Leather Goods Market.
Leather Goods Market Overview:
A product made of leather is leather goods. They are made out of material from tanning hides and the skin of animals, mainly from cattle. Leather luggage contains suitcases, trolley bags, etc. used for carrying personal belongings and products containing purses, wallets & belts, footwear, handbags, and others.



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Leather Goods Market Dynamics:
Designers from around the world present new clothes at fashion shows and events, thus attracting more consumers to leather clothing. The show featured a variety of leather goods, including a variety of modern jackets, twill trench coats, travel bags, leather sneakers, duffle bags, and ankle boots. These forums bring together hundreds of thousands of leather goods buyers, manufacturers, and designers from different provinces.

Increasing numbers of High Net Worth people, coupled with the growing trend of designer and designer clothing in major markets, such as the United States, France, and China, are driving demand for leather products. Leather goods are exclusive and often cost more. The demand for leather products is growing strongly in China due to the increasing number of HNWIs.

The growing awareness of the harmful effects of unethical practices in clothing and footwear production has encouraged demand for sustainable products. Sustainable fashion often attracts consumers, as many famous designers uphold the concept of sustainability.

The increase in domestic and international travel has spurred the development of various industries. People carry easy-to-handle leather luggage bags. Long trips require leather luggage that can withstand rough handling at all times. So consumers opt for premium and better quality leather luggage for ease of movement.

Market trends and challenges are analyzed and compiled in the report. The data of 2021 is considered for a better understanding of the client. Moreover, Analytics of the market is based on real numbers of past years from 2021 to 2029 with market forecast until 2029.
Leather Goods Market Segment Analysis:
By Product, Footwear dominated the Market with a 42 % share in 2021. The presence of major players like Nike, Adidas, etc., and new entrants have also been entering the leather athletic footwear. A wide range of design, sizes, customizations, etc. and growing sneaker trends, etc. are the factors driving the market growth of footwear.

Apparel is expected to grow at a CAGR of 7 % through the forecast period. The rise in disposable income and variety of designs and styles availability are the factors expected to drive the market growth through the forecast period.

Home décor is expected to grow at a CAGR of 5.6 % through the forecast period. Increasing expenditure on home furnishing and renovation are the factors driving the growth of the segment in the market.

By Type, The Genuine segment dominated the market with a 57 % share in 2021. Less expensive than genuine leather products and are equally attractive in terms of design are the factors driving the demand for the product. It is manufactured from polyurethane and polyvinyl chloride. Polyurethane is eco-friendly as it does not emit dioxins as compared to vinyl.

The synthetic segment is expected to grow at a CAGR of 7 % through the forecast period. Low cost and heavy-duty construction, eco-friendly options are the factors expected to drive the demand for the product. Products finished from materials, such as PET, are heavy-duty, flexible, and have a medium wall construction that flexes but remains crack-resistant. These factors are expected to drive the segment growth through the forecast period.
Leather Goods Market Regional Insights:
The Asia Pacific dominated the market with 36 % in 2021. Increasing demand for premium and luxury products are the factors driving the demand for the product. Bangladesh and Pakistan are important sources for primary leather in Asia. Significantly low tariff rates on exported leather products make Bangladesh an eye-catching market for overseas leather goods brands.

North America is expected to grow at a CAGR of 8 % through the forecast period. The growing product popularity coupled with increasing online purchases, rising number of athletes, and health and fitness-conscious individuals are the factors expected to drive the market growth through the forecast period.

The objective of the report is to present a comprehensive analysis of the Leather Goods market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Leather Goods market dynamics, structure by analyzing the market segments and projecting the Leather Goods market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Leather Goods market make the report investor’s guide.
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Global Leather Goods Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017to 2021
Market Size in 2021:
US $ 288.02 Bn.


Forecast Period 2022 to 2029 CAGR:
6.2%
Market Size in 2029:
US $ 466.04 Bn.


 Segments Covered:
by Product
• Footwear
• Home Décor
• Apparel


by Type
• Genuine
• Syntheti



Leather Goods Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Leather Goods Market Key Players
• Adidas AG
• Nike, Inc.
• Puma SE
• Fila, Inc.
• New Balance Athletics, Inc.
• Knoll, Inc.
• Samsonite International S.A.
• VIP Industries Ltd.
• Timberland LLC
• Johnston & Murphy
• Woodland Worldwide
• Hermès International S.A.
• Louis Vuitton Malletier
• VF Corp.
• COLLAR Company
• LUCRIN Geneva
• Nappa Dori
• Saddles India Pvt. Ltd.
• Lear Corp

1] What segments are covered in the Leather Goods Market report?
Ans. The segments covered in the Leather Goods Market report are based on Product Type, Application, and Fuel Type.

2] Which region is expected to held the highest share in the Leather Goods Market?
Ans. Asia Pacific Region is expected to held the highest share in the Leather Goods Market.

3] What is the market size of the Leather Goods Market by b2029?
Ans. The market size of the Leather Goods Market by 2029 is US $ 466.04 Bn.

4] Who are the top key players in the Leather Goods Market?
Ans. Adidas AG, Nike, Inc., Puma SE, Fila, Inc., New Balance Athletics, Inc., Knoll, Inc., Samsonite International S.A., VIP Industries Ltd., Timberland LLC, Johnston & Murphy, Woodland Worldwide, Hermès International S.A., Louis Vuitton Malletier, VF Corp., COLLAR Company, LUCRIN Geneva, Nappa Dori, Saddles India Pvt Ltd., Lear Corp.

5] What was the market size of the Leather Goods Market in 2021?
Ans. The market size of the Leather Goods Market in 2021 was US $ 288.02 Bn.