Press release
Leather Goods Market Worth US$ 490.2 Billion by 2028 at CAGR of 6.1% | IMARC Group
Leather goods are manufactured by tanning or chemically treating leather. They comprise various items, such as shoes, belts, bags, suitcases, furniture covers, book covers, hats, gloves, wristwatch straps, purses, toys, jackets, pants, and cases. They also include percussion instruments, quivers, motorcycle seats, car seat covers, knife sheaths, baseballs, horse reins, coasters, saddles, and punching bags. They are waterproof as leather goods are coated with melted wax or rubbing wax sticks. They are fire-resistant, lightweight, skin-friendly, and have a long shelf life. They can retain their elasticity and shape after rigorous usage. They are easy to clean, malleable, and more beneficial compared to their synthetic counterparts. They are used in cold climates as leather goods provide thermal insulation and restrict the passage of internal heat. As they can be customized with patterns, textures, and brand logos for effective marketing, the demand for leather goods is rising worldwide.
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Market Trends
At present, the increasing demand for leather goods due to the rising utilization of eco-friendly and recyclable products around the world represents one of the primary factors influencing the market positively. Besides this, the growing utilization of lightweight and compact luggage items to easily carry them while traveling long distances and avoid extra airline luggage fees is offering a favorable market outlook. In addition, governing agencies of various countries are undertaking initiatives to support the leather industry by providing financial assistance to leather artisans and increasing the import and export of leather goods. Apart from this, there is an increase in the demand for leather goods among the masses due to changing fashion trends. This, along with the rising number of footwear and clothing brands displaying limited edition leather products in fashion shows, is propelling the growth of the market. Additionally, various luxury brands are adopting effective marketing strategies, such as social media, influencer, digital, and content marketing, to connect with their targeted customers and boost product sales. Moreover, the rising number of offline stores and online distribution channels selling premium quality leather goods, such as handbags, trench coats, boots, and wallets, is supporting the growth of the market. Furthermore, key manufacturers are introducing sustainable processing methods by extracting cellulose derivatives from downstream wastes of sugar sectors and employing them in leather finishing. They are also adopting waterless chrome tanning technology (WLTC) to reduce the wastage of water and improve the quality of leather goods, which is bolstering the growth of the market.
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List of Key Companies Covered in this Market Report:
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 (2017-2022)
Market Outlook (2023- 2028)
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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IMARC Group
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Website: https://www.imarcgroup.com/
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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