According to IMARC Group’s latest report, titled “Leather Goods Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global leather goods market reached a value of US$ 350.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 490.2 Billion by 2027, exhibiting a CAGR of 6.1% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Leather goods are articles produced from the skins and hides of animals, including buffaloes, cattle, sheep, hogs, and goats. They are treated with various chemicals, such as tanning agents, solvents, surfactants, dyes, oils, salts, etc., to enhance their strength, durability, and flexibility. Leather goods can be categorized into several kinds, including saddles, gloves, bracelets, footwear, garments, harnesses, belts, bags, watches, wallets, smartphone covers, etc. These articles are resistant to fire, cracks, and dust and are long-lasting. As a result, leather goods find extensive utilization in the manufacturing of sports equipment, apparel, automotive, upholstery, etc.
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Market Trends
The expanding population and the rising income levels of individuals are primarily driving the leather goods market. Besides this, the escalating product demand owing to its functionality, comfort, and cost-effectiveness is further augmenting the market growth. Apart from this, the elevating adoption of advanced technologies, such as automated cutting processes, by the leading manufacturers to provide unique and stylish materials is also catalyzing the global market. In addition to this, the growing automotive sector is acting as another significant growth-inducing factor. Moreover, the emerging trend of sustainable and ethical fashion across countries is also propelling the market growth. Furthermore, the introduction of bio-based materials in place of conventional ones is expected to bolster the leather goods market in the coming years.
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The report has segmented the market on the basis of product, material type, price, distribution channel and geography.
Breakup by Product:
- Footwear
- Military Shoes
- Casual Shoes
- Formal Shoes
- Sports Shoes
- Others
- Other Leather Products
- Upholstery
- Luggage
- Accessories
- Clothing & Apparel
- Bags, Wallets and Purses
- Others
Breakup by Material Type:
- Genuine Leather
- Top-grain Leather
- Split-grain Leather
- Synthetic Leather
- PU-Based Leather
- PVC-Based Leather
- Bio-Based Leather
Breakup by Price:
- Premium Products
- Mass Products
Breakup by Distribution Channel:
- Clothing and Sportswear Retailers
- Departmental Stores
- Supermarkets and Hypermarkets
- Online Stores
- Others
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Adidas AG, American Leather Holdings LLC, Capri Holdings Limited, Hermès International S.A., Kering S.A., LVMH, Prada S.p.A. (Prada Holding S.P.A), Puma SE, Tapestry Inc., VIP Industries (Piramal Group) and Woodland (Aero Group).
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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