Pune, India, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The global leather goods market size was valued at USD 440.64 billion in 2022 and is projected to grow from USD 468.49 billion in 2023 to USD 738.61 billion by 2030, exhibiting a CAGR of 6.7% during the forecast period.
This information is provided by Fortune Business Insights™ in its research report, titled “Leather Goods Market, 2023-2030”.
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List of Key Players Profiled in the Leather Goods Market:
- Vf Corporation (U.S.)
- Kuraray Co., Ltd. (Japan)
- R. Polycoats Pvt. Ltd. (India)
- Adriano Di Marti (Mexico)
- Broke Mate (India)
- Hermes International (France)
- LVMH Moët Hennessy Louis Vuitton (France)
- Kering (France)
- Prada (Italy)
- Capri Holdings (U.S.)
Report Coverage:
The report provides a comprehensive analysis of the key factors propelling the business scenario over the forthcoming years. It further gives an insight into the major aspects driving industry growth across various regions. Some of the additional aspects include the vital steps taken by leading market participants for strengthening their business position.
Drivers and Restraints:
Market Value to Surge Owing to Growing Demand for Luxury Goods
One of the major aspects propelling the leather goods market growth is the rising prevalence of natural leather as a luxury product and the escalating product usage in fashion shows. The market expansion is further impelled by the growing demand for handmade and customized goods.
However, the industry expansion may be hindered due to the process of leather production from animal hides and skins.
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COVID-19 Impact:
Industry Recorded Reduced Product Demand Amid COVID-19 Pandemic
The coronavirus pandemic resulted in lockdowns across the globe for controlling the spread of the virus. The restrictions put a halt on industries as well as manufacturing units. This impacted the product demand to some extent. However, the ease of lockdown restrictions in 2020 across various countries led to an increase in sustainable consumer spending and the revival of product demand.
Segments:
By Source
- Full Grain Leather
- Synthetic Leather
By Product
- Apparel
- Luggage
- Footwear
- Others
By End-user
- Men
- Women
- Kids
By Geography
- North America
- Europe
- Asia Pacific
- the Middle East & Africa
- South America
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Regional Insights:
Europe to Lead Driven by Presence of Major Manufacturers
The European leather goods market share is expected to register appreciable expansion throughout the study period. The surge can be credited to the increasing footwear demand and the presence of major manufacturers in the region.
North America is estimated to record commendable growth over the estimated period. The rise is being driven by the substantial demand for luxury goods in the region.
Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Overview of the Parent/Related Markets
- Regulatory Landscape
- Industry SWOT Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Impact of COVID on the Supply Chain of the Leather Goods Market
- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
- Global Leather Goods Market Analysis, Insights, and Forecast, 2019 – 2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Source
- Full Grain Leather
- Synthetic Leather
- By Product
- Apparel
- Luggage
- Footwear
- Others
- By End User
- Men
- Women
- Kids
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Source
TOC Continued...!
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Competitive Landscape:
Major Players Enter into Partnership Deals to Enhance Product Reach
Key leather goods companies are focused on the adoption of various initiatives for strengthening their position in the market. These include acquisitions, merger agreements, and the formation of alliances. Besides, several companies are entering into collaborations and partnership deals to increase their geographical footprint.
Key Industry Development:
- April 2020 – Air Jordan and Dior rolled out its new sneakers Air Jordan 1 High OG Dior produced from the same Italian leather that is used by Dior for its bags.
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