Leather Goods Market is growing with a CAGR of 6.7% During 2023 to 2030
The finest Leather Goods Market report is based on the market type, organization size, availability on-premises and the end-users’ organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. The report also aids in prioritizing market goals and attain profitable business. This market study also analyzes the market status, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis. leather goods report aids to establish correlative relationship between the product brand and consumers’ needs and preferences.
The leather goods market is expected to gain significant growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyzes that the market is growing with a CAGR of 6.7% in the forecast period of 2023 to 2030 and is expected to reach USD 699,906.77 million by 2030. The rising demand for comfortable, trendy, and fancy leather apparel, footwear, and accessories is an important factor driving the market growth.
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Competitive Landscape and Global Leather Goods Market Share Analysis
Some of the prominent participants operating in the global leather goods market are:
TBL Licensing LLC (A Subsidiary of VF Corporation),
CAPRI HOLDINGS LIMITED, Hermès,
KERING, PRADA S.P.A., Kiton,
Woodland Leathers, American Leather,
JOHNSTON & MURPHY (A Subsidiary of Genesco),
NAPPA DORI among others.
Global Leather Goods Market Dynamics
Drivers
Increase in the demand for premium and high-quality luxury leather products
The rapidly expanding fashion industry has greatly increased consumer demand for high-quality, premium, and luxury leather products. Customers value aesthetics and seek high-end products to create a fashion statement.
Moreover, an increasing number of High-Net-Worth Individuals (HNWIs), coupled with the growing trend of designer and branded clothes in major markets, such as the U.S., France, and China, is boosting the demand for luxury leather products. Leather goods are exclusive and often premium priced.
Low-cost and heavy-duty construction of synthetic leather products
Synthetic leather, which is also known as Faux leather, is cheaper than real leather, animal-friendly, can be produced in virtually every color, can be manufactured to feature a high gloss finish, can be easily cleaned with a damp cloth, requires little maintenance, does not crack as easy as real leather, is UV fade resistant and does not have the real leather smell, which is expected to draw its demand in the forecast period. Faux Leather is a man-made product and is very durable.
These days Faux Leather is usually stronger than real leather. Artificial leather such as pleather, Naugahyde, vegan leather, barkcloth, cork, glazed cotton, and recycled PET polyester is available in the market. Pleather is commonly used to make artificial leather clothing. It is made from plastic and is less costly and lighter than genuine leather. Products made from pleather are available in a variety of colors. Another material used for leather is Naugahyde which looks similar to animal skin. All these factors and advantages offered by synthetic leather are expected to drive market growth.
TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
To be Continue…!
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Opportunities
Increase in innovation in leather goods with new features and designs
Consumer behavior has changed substantially over the past decade. As the old technologies have been exploited more, especially in developing and marketing fashion products, companies are getting new possibilities for fulfilling customer needs with product varieties. The development of new surface finishes and embellishments with viable techniques is needed to develop innovative products and add uniqueness and value to the products.
Global Leather Goods Market Scope
Leather Type
Full Grain Leather
Split Grain Leather
Faux Leather
Bonded Leather
Top Grain Leather
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Product
Footwear
Handbags
Apparel
Others
Grade
High-Grade
Mid-Grade
Distribution Channel
Specialty Stores
Company Franchised Stores
E-Commerce
Supermarkets/Hypermarkets
Others