Leather goods are leather products. They are created from tanning hides and the skins of animals, primarily cattle. Leather luggage includes suitcases, trolley bags and other items needed to transport personal things, as well as products such as purses, wallets & belts, footwear, handbags and others.
Leather Goods Market Scope and Research Methodology:
The report’s goal is to analyse and forecast the Leather Goods market size. In order to correctly depict the competition scenario for the worldwide Leather Goods industry, the market research provides strategic profiling of important market participants. It contains a thorough examination of new product launches, acquisitions, mergers and acquisitions, joint ventures, brands, and important players in the Leather Goods business. The research contains information on industry trends and developments, market dynamics and their potential, assisting specialists in staying current on the most recent trends and sector performance, estimating growth and fall in Leather Goods market share during the forecast period. Primary and secondary research approaches were used to have a thorough understanding of the Leather Goods industry. The report’s goal is to analyse and forecast the Leather Goods market size. In order to correctly depict the competition scenario for the worldwide Leather Goods industry, the market research provides strategic profiling of important market participants. It contains a thorough examination of new product launches, acquisitions, mergers and acquisitions, joint ventures, brands, and important players in the Leather Goods business. The research contains information on industry trends and developments, market dynamics and their potential, assisting specialists in staying current on the most recent trends and sector performance, estimating growth and fall in Leather Goods market share during the forecast period. Primary and secondary research approaches were used to have a thorough understanding of the Leather Goods industry.
Leather Goods Market Report Overview:
The research comprehensively covers insight analysis in light of the Leather Goods Market, as well as its ever-changing patterns, industry environment, and all leading market elements. The Leather Goods Market study also includes a complete analysis of leading players.
Leather Goods Market Size was valued at USD 311.75 billion in 2022. Global Leather Goods Market size is estimated to grow at a CAGR of 7% over the forecast period.
Leather Goods Market Dynamics:
Designers from all over the world showcase their latest designs at fashion exhibitions and events across the world, bringing more clients to leatherwear. Among the leather goods on display were modern jackets, twill trench coats, travel bags, leather shoes, duffel bags, and ankle boots. These events attract hundreds of thousands of leather goods shoppers, manufacturers, and designers from throughout the country.
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Leather Goods Market Segmentation:
Footwear dominated the market by product in 2020, accounting for 43% of the total. Nike, Adidas, and other major competitors, as well as new entrants, have entered the leather athletic footwear market. Among the causes fueling the expansion of the footwear sector are a diverse range of design options, sizes, modifications, and expanding trainer designs.
Apparel is predicted to grow at a CAGR of 7.32% over the forecast period. The rise in disposable income, as well as the availability of a diverse choice of forms and styles, are expected to drive market growth over the projection period.
By Type, the genuine segment dominated the market with a 58% share in 2020. Factors driving demand for the product include its lower cost than genuine leather products and its equivalent attractiveness in terms of appearance. It is made from polyurethane and polyvinyl chloride. Polyurethane is more environmentally friendly than vinyl since it does not emit dioxins.
The synthetic sector is predicted to grow at a CAGR of 6.8% over the forecast period. The product’s low cost and heavy-duty structure, as well as ecologically friendly options, are likely to increase demand. Products created from materials such as PET are heavy-duty, flexible, and have a medium wall construction that flexes yet remains crack-resistant.
Leather Goods Market Key Players:
Adidas AG
Nike, Inc.
Puma
Boston Leather Goods Company
Knoll, Inc.
Samsonite International S.A.
Timberland LLC
Johnston & Murphy
Woodland Worldwide
Hermès International S.A.
Louis Vuitton
LUCRIN Geneva
Nappa Dori
Saddles India Pvt. Ltd.
Lear Corp.
Bhartiya International
Mirza International
Leather Goods Market Regional Analysis:
The report is divided into several key countries, with market size, growth rate, import and export of Leather Goods market in these countries, which cover North America, the United States, Canada, Mexico, Europe, the United Kingdom, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America, Brazil, and the Middle East and Africa.
Key Questions answered in the Leather Goods Market Report are:
- Which segment grabbed the largest share in the Leather Goods market?
- Which segment is expected to grow at a high rate during the forecast period?
- How is the competitive scenario of the Leather Goods market?
- Which are the key factors driving the Leather Goods market growth?
- Which region holds the maximum share in the Leather Goods market?
- What will be the CAGR of the Leather Goods market during the forecast period?
- Which are the prominent players in the Leather Goods market?
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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