U.S. Bovine Leather Goods Market Size | Industry Share, Business Boosting Strategies, CAGR Status, Growth Opportunities

Bovine leather goods are the major contributors of the overall U.S leather goods market. Nearly 65% of the leather products sold in the U.S are made from bovine leather owing to its properties of durability, luster and wide availability. The market is anticipated to exhibit a notable growth, driven by the increasing income levels of the consumers, rising number of female professionals and marketing initiatives of the companies operating in the market. Medium leather goods would continue to be a potential segment for the players to invest in.

U.S. Bovine Leather Goods Market Overview :-

According to a new report published by Allied Market Research, titled, U.S. Bovine Leather Goods Market by Type, and End User: Opportunity Analysis and Industry Forecast, 2017-2023, the U.S. bovine leather goods market was valued at $10,931 million in 2016, and is expected to reach $14,480 million by 2023, growing at a CAGR of 4.2% from 2017 to 2023. The medium leather goods segment is anticipated to dominate the market throughout the analysis period.

Bovine leather is widely used in the fashion and automotive industries due to its strength, durability, and comfort. It regulates temperature, retains warmth in cold weather conditions, and provides cooling through ventilation in hot conditions. It is considered as one of the heaviest leathers, which makes it durable and provides a pebble grain appearance.

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Industry analysis, Demand , trends, opportunities and forecasts 2017-2023

The U.S. bovine leather goods market is driven by the growing preference for durable, stylish, and high quality leather products, owing to increasing disposable income and improving lifestyle of the populace. Moreover, changing fashion trends, increasing female working population, and growing domestic & international tourism are boosting the market growth.

The medium leather goods segment comprising leather shoes, handbags, shoulder bags and other cases is projected to be the major revenue contributor in the U.S. bovine leather goods market. The segment constitutes over 40% of the U.S bovine leather goods market revenue. Leather shoes category is anticipated to be the largest revenue generator in the medium leather goods market in 2016, constituting around 44% of the medium leather goods market size. Small/fancy leather goods have been gaining huge traction among the U.S. population, owing to the increasing demand for leather accessories such as wallets, purse, belts, and others. Within the heavy leather goods market, upholstery held the largest market share in 2016 owing to its widespread application among commercial as well as residential sector.

By usage, market is segmented into general goods, footwear, automotive, and others. The general goods segment is expected to grow faster than other segments, registering a CAGR of 4.5% from 2017 to 2023.

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Key Findings of the U.S. Bovine Leather Goods Market:

The medium leather goods segment is projected to lead the U.S bovine leather goods market throughout the analysis period Also, it is anticipated to grow at the highest CAGR during the forecast period (2017-2023).
Small/fancy leather goods segment is estimated to be the second fastest growing segment, accounting for around 25% of the bovine leather goods market revenue by 2023
Lucrative product categories include handbags, expected to exhibit highest CAGR within the medium leather goods market; and purse within the small/fancy leather goods market.

The key market players profiled in the report are :-
Caleres, Inc. (Allen Edmonds Corporation)
Hermès International S.A
Jack Georges, Inc
Garrett Leather corp
Tanner Goods Inc
Horween Leather Company
Circa of America, LLC
Rancourt & Company Shoecrafters, Inc
Russell Moccasin Company
American Saddlery Inc

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TABLE OF CONTENT :-
CHAPTER 1 INTRODUCTION

1.1. Report Description
1.2. Key Benefits
1.3. Key Market Segmentation
1.4. Research Methodology

1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY

2.1. CXPerspective

CHAPTER 3 MARKET OVERVIEW

3.1. Market Definition and Scope
3.2. Key Findings

3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies

3.3. Porter's Five Forces Analysis
3.4. Market player positioning, 2016
3.5. Market Dynamics

3.5.1. Drivers

3.5.1.1. Growth in disposable income and living standards
3.5.1.2. Changing fashion trends
3.5.1.3. Surge in female working professionals
3.5.1.4. Growth in domestic and international tourism

3.5.2. Restraints

3.5.2.1. Counterfeit products
3.5.2.2. Increasing concerns over animal cruelty and environmental effects of leather processing

3.5.3. Opportunities

3.5.3.1. Increased in marketing initiatives about branded products

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