Leather Goods Market Detail Analysis focusing on Key Players LVMH Moët Hennessy Louis Vuitton SE, Kering S.A., Adidas AG, Hermès International S.A., Dolce & Gabbana Luxembourg S.à.r.l., Overseas Leather Goods Company Pvt Ltd

The products made from animal hide by means of tanning, a process that stabilizes proteins, are referred as leather goods. The process of tanning animal hide makes it suitable for various applications such as wallets, clothing, footwear, and others. The inherent qualities of leather such as dustproof, fireproof, crack proof, and durability is expected to increase growth of leather goods market. Furthermore, increasing demand for trendy hand bags, premium wallets, and other leather products is propelling growth of leather goods market.

On the basis of product type, leather goods are segmented into footwear, accessories, luggage, and others. Among product type, footwear segment is projected to witness highest revenue share in market over the forecast period.

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Asia Pacific region held dominant position in global leather goods market and was valued at US$ 70.82 Billion in 2016. Increasing demand for leather goods by the fashion industry especially footwear is driving growth of the market. Furthermore, growth of the leather industry in the region is further fuelling the demand for leather products in the region.

Europe region is projected to witness significant growth in leather goods market in terms of revenue over the forecast period. The tanneries in Europe is highly competitive sector in the global leather market and the tanning industry in Europe is one of the largest supplier of the leather in 2015, according to European Union. Also, Europe accounted for one third of the world’s leather goods market, as it is one of the largest traded region in world, Italy accounted for 18% of global leather exports in 2016, according to CBI Ministry of Foreign Affairs.

North America accounted for largest market share of 23.24% in the global leather goods market in 2016. This is attributed to the availability of raw skin and hides from the slaughterhouses and the discovery of chrome tanning process. According to U.S. Hide, Skin and Leather Association, hides and skins companies in U.S. regularly import nearly 90% of total production of these products, which in turn is boosting growth of leather and leather goods industry.

Major Players in Global Leather Goods Market:

Some of the key players operating in the global leather goods market include LVMH Moët Hennessy Louis Vuitton SE, Kering S.A., Adidas AG, Hermès International S.A., Dolce & Gabbana Luxembourg S.à.r.l., Overseas Leather Goods Company Pvt Ltd, Tata International Ltd, Chanel International B.V., Prada S.p.A, Ralph Lauren Corporation, and others.

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