Luxury Leather Goods Market by Industry Growing Immensely At A Global Level: A Promising and High CAGR in the Forecast Period 2017- 2025

Leather is dead skin which is flexible and durable material harvested through a process of tanning animal skin or rawhide frequently cattle hide. Various features of natural leather make it superior over synthetic materials such as beauty, comfort, amiability, elasticity and endurance. Leather can be made from number of animals including cow, buffalo, pigs, goats, seeps, horses; exotic animals such as kangaroos, ostriches, alligators and even dogs & cats. Leather can be produced on industrial scale ranging from cottage industry to heavy industry. People make use of luxury leather for various purposes from clothing (e.g., shoes, hats, jackets, skirts, trousers, and belts), bookbinding, leather wallpaper, and as a furniture covering. It is produced in a wide variety of types and styles, decorated by a wide range of techniques.

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The market for luxury leather goods has been growing exponentially in the emerging and developed countries to become leading competitive market at the global level. The factors that have been driving the growth of global luxury leather goods include increased population and modernization in advanced life-style, growing demand for indulgence and rising disposable income. With upsurge in globalization, there is large scope for global luxury leather goods to widen. Additionally, adoption of luggage and leather goods is expanding as fashion & luxury good industry is concentrating on improving leather processing technology, manufacturing capabilities, and productivity without compromising on its prominent features such as form, shape, ease and stability. The market is boosted by rise in export of the leather material around the world, alteration in consumer preference and desire to possess trendy items. However, government rules and regulations on slaughtering of animals and hefty prices of the luxury leather goods are obstacles that might restrict the growth of the market further.

Segmentation
The global luxury leather goods market is segmented on the basis of type, end-use, gender and region. Based on the type of quality the market is distributed into high-grade, mid-grade and low-grade. Depending on end-use the market is separated as age 15-25, age 25-50, old than 50 and others. Gender wise market is spilt into male and females.

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Regional Analysis
Based on geographical market for leather goods it’s been extensively studied across North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. North America is anticipated to account for significant market share owing to focus of leather manufacturer on product differentiation, product innovation and technical advancement. Europe and Asia-Pacific is expected to witness lucrative and speedy growth due to increased disposable income, purchasing power of the consumer, growing adoption for standard and trendy lifestyle. LAMEA is also estimated to be the fastest growing region with moderate shareholder of the market as various factors are contributing to the growth of this region.

Global Luxury leather goods Market Segmentation:
By Type:
High-grade
Mid-grade
Low-grade

By End Use:
Age 15-25
Age 25-50
Old Than 50
Others

By Gender:
Female
Male

By Geography:
North America
U.S.
Canada
Mexico

Europe
UK
Germany
France
Italy
Spain
Turkey
Rest of Europe

Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific

LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA

Key Market Players:
Prada
Michael Kors
Dior
Louis Vuitton
Coach
Richemont Group
Kate Spade
Burberry
Hermes
Chanel

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This release was published on openPR.