Leather Luggage and Goods Market by Type (Travel bags, Casual bags, Business bags, Purses, wallets & belts, Handbags, Footwear)

Leather Luggage and Goods Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $94.7 billion by 2020, registering a CAGR of 5% during the period 2015-2020. In 2014, Asia-Pacific generated the highest revenue, followed by Europe and North America. Leather goods held a prominent share in the product type category in 2014, owing to factors such as growing per capita income, increasing tourism rate, and evolving fashion trends.

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Travel bag is expected to be the fastest growing segment in the leather luggage market, registering a CAGR of 6.9% during the forecast period 2015-2020. This growth is attributable to the increasing number of domestic and international trips, by commuters worldwide. Consumers prefer compact and easy-to-handle travel luggage during transit, thus increasing the demand for lightweight and easy maneuvering luggage products. However, in leather goods segment, handbags are expected to witness the fastest growth, owing to the rise in working women population.

The retail stores held a major share in the global leather luggage and goods market in 2014. Renowned companies are establishing new retail outlets in the untapped regions to expand their footprint in the market. For instance, in 2015, Prada opened its first store in Jakarta, Indonesia, which offers leather bags and accessories for both men and women. Through retail outlets, market players aim to provide a wide assortment of leather products to their consumers under a single roof.

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The online store segment is anticipated to grow at a rapid rate, registering a CAGR of 26% during the forecast period (2015 - 2020). Exposure to social media, increased convenience and the rising usage of digital devices for the purpose of online shopping, have fostered the growth of online sales platform.

Evolving fashion trends across the globe, has encouraged market players to launch innovative and trendy products to cater to the demands of consumers and maintain a loyal customer base. Moreover, consumers also prefer leather goods and luggage which are compact yet stylish. Changing fashion trends have resulted in expansion of men’s accessories including leather bracelets, neckpieces, and gloves. Thus, changing fashion trends would strengthen the growth of the market in coming years.

An increase in domestic and international tours has fostered the growth of various industries. People are opting for easy-to-handle leather luggage bags. Extensive traveling needs leather luggage that can resist harsh handling at any point of time. Thus, consumers opt for premium and better quality leather luggage for convenient traveling.

KEY BENEFITS:

• A comprehensive analysis of the current trends and future estimations in the world leather luggage and goods market has been provided in this report
• This report presents information regarding key drivers, restraints, and opportunities along with a detailed impact analysis from 2015 to 2020
• Porter’s Five Forces model and SWOT analysis of the industry illustrate the potency of the buyers and suppliers participating in the market
• A quantitative analysis of the current scenario and the forecast period from 2015 to 2020 highlights the financial competency of the market
• This report provides a detailed analysis of the world leather luggage and goods market with respect to product type, end user, mode of sale, and geography to enable stakeholders to take appropriate investment decisions
• Value chain analysis in the report provides a clear understanding on the role of stakeholders involved in this process

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