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 Dynamics:
Leather fashion accessories are leather items worn with or as a complement to other garments. They usually serve both a functional and ornamental purpose. Leather fashion accessories, like apparel and non-leather fashion accessories, have a longer life cycle, particularly when it comes to high-end products that appreciate in value over time. Carrying items, gloves and mitts, belts, and other accessories are among the fastest-growing leather fashion accessory categories. The increasing fashion industry enhanced consumer demand for leather handbags and wallets, propelling the worldwide accessories market ahead.
Leather Goods Market Overview:
Leather Goods Market Research Report examined the current state of definitions, classifications, applications, and the structure of the industrial chain.The market analysis includes objective professional commentary on the current market condition, historical market performance, production and consumption rates, demand and supply ratios, and income generation estimates for the projected term. The Leather Goods Market report also provides information on the industry’s main businesses’ strategic aspirations and company growth strategies. To summarise what has been mentioned thus far, the report presents a detailed picture of the Leather Goods market on both a national and regional scale.
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.
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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 Regional Analysis:
The Leather Goods segment of the Leather Goods The market research contains particular market-affecting aspects as well as changes in market regulation that impact the market’s current and future trends. New sales, replacement sales, national demographics, regulatory acts, and import-export taxes are some of the major indicators utilised to estimate the Leather Goods market scenarios for different locations. Furthermore, the Leather Goods the market report provides the existence and availability of brands, as well as the challenges they face due to strong or weak competition from local and domestic brands, as well as the influence of sales channels, which are all taken into account when providing forecast analysis of national data.
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 research report offers:
- The Leather Goods a market research report offers a variety of information, such as market dynamics, scenarios, and prospects for the forecast period.
- Segments and subsegments contain quantitative, qualitative, value (USD Million), and volume (Units Million) statistics.
- Demand and supply trends, as well as their impact on the Leather Goods market, are captured in data at the regional, sub-regional, and country levels.
- A share of key companies, new breakthroughs, and approaches have been incorporated in the competitive landscape.
- Important financial data, recent breakthroughs, SWOT analysis, and strategies of the Leather Goods industry participants.
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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 organisation 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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