Leather Goods Market Trends 2022 | Growth, Share, Size, Demand and Future Scope 2027

According to the latest report by IMARC Group, titled "Leather Goods Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global leather goods market size reached US$ 350.2 Billion in 2021.

Leather refers to the durable material that is obtained by tanning skins and rawhide of numerous animals, such as cattle, sheep and goats. The process of tanning aids in stabilizing the collagen of the rawhide, which improves its thermal, chemical and microbiological stability and makes it suitable for a vast array of applications. Leather is utilized to manufacture numerous goods, such as bags, footwear, belts, watches and garments, due to its enhanced strength, durability and flexibility. Leather is also dust and water-proof in nature, which has led to its widespread utilization for the production of sports equipment and automotive upholstery.

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Market Trends

The market is primarily driven by the increasing demand for long-lasting luggage products by travelers. Since leather luggage products are extremely functional while being resistant to dust and water, they are widely used by individuals to protect their belongings and electronic gadgets while traveling. Along with this, the inflating disposable income levels of the masses and the shifting focus toward unique and stylish products are also providing an impetus to the market growth. Moreover, the escalating sales of numerous leather products through e-commerce retail channels are acting as a major growth growth-inducing factor. Since these online portals offer a wide set of options to users to choose from with varied price ranges and attractive discounts, they are gaining widespread prominence across the globe. Furthermore, numerous key players are utilizing advanced technologies, including automated cutting processes, for manufacturing these goods to offer vast varieties and customization options to end users. They are also introducing goods made from bio-based leather that offers improved scratch resistance with a softer surface when compared with synthetic leather. Increasing fashion consciousness among the masses and an enhanced focus toward sustainability are consequently facilitating the uptake of these goods. On account of the aforementioned factors, the market is expected to grow at a CAGR of 6.1% during 2022-2027.

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 Competitive Landscape

Adidas AG
American Leather Holdings LLC
Capri Holdings Limited
Hermès International S.A.
Kering S.A.
LVMH
Prada S.p.A
Puma SE, Tapestry Inc.
VIP Industries (Piramal Group)
Woodland (Aero Group).

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

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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This release was published on openPR.