The Leather Goods Global Market Report 2023, provides comprehensive information on the leather goods market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global leather goods market size is expected to grow from $350.77 billion in 2022 to $377.80 billion in 2023 at a compound annual growth rate (CAGR) of 7.70%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global leather goods market size is expected to reach $496.37 billion in 2027 at a CAGR of 7.06%.
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Product innovation is a key trend gaining popularity in the leather goods market. Major companies operating in the leather goods market are focused on developing innovative solutions to strengthen their position in the market. For instance, in March 2021, Hermes International S.A., a France-based luxury goods company, launched the Victoria bag, its new mushroom-based leather bag, which is the world’s first object made with Fine Mycelium. Fine Mecelium is a patented technology to enhance mycelium as it grows. The special and unique features included in this product are the amber-coloured panels made of mycelium, the thread-like filament structure of fungi. It is made of Sylvania-based leather material, which gives it strength and durability and makes it convenient to carry.
The leather goods market is segmented:
1) By Leather Type: Full Grain Leather, Split Grain Leather, Genuine Leather, Faux Leather, Bonded Leather
2) By Product: Footwear, Handbags, Apparel, Luggage, Wallet, Belts, Other Products
3) By Grade: High-Grade, Mid-Grade
4) By Distribution Channel: Specialty Stores, Company Franchised Stores, E-Commerce, Supermarkets And Hypermarkets, Other Distribution Channels
5) By End- User: Men, Women, Kids
Europe was the largest region in the leather goods market in 2022.
The table of contents in TBRC’s leather goods market report includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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