Leather and Allied Products Market-2023 Share, Demand, Top Players, Industry Size and Future Growth Analysis By 2032

As per The Business Research Company's Leather And Allied Products Market Opportunities And Strategies Market Report 2023, The leather and allied products market size reached a value of nearly $319.01 billion in 2021, having grown at a compound annual growth rate (CAGR) of 3.3% since 2016. The market is expected to grow from $319.01 billion in 2021 to $508.47 billion in 2026 at a rate of 9.8%. The leather and allied products market size is then expected to grow at a CAGR of 9.0% from 2026 and reach $781.98 billion in 2031.

The increase in demand for online shopping is expected to fuel the growth of the leather and allied products market in the forecast period. The demand for online shopping is increasing due to the convenience of shopping, product delivery at convenience, ease of ordering, and saving time for consumers. Meanwhile, manufacturers now and in the future will be able to sell their products on a larger platform than before, which will increase their customer base geographically driving the growth of the leather and allied products market. Globally, e-commerce portals and social media platforms are boosting the sales of leather and allied products by giving larger exposure to producers who were confined to one geography. For instance, according to a report 'Why Shopping's Set for a Social Revolution' published in January 2022 by A*ccenture, an Irish-American professional services company, global shopping on social media platforms is predicted to reach $1.2 trillion by 2025, driven by Gen Z (generation Z born from 1997 to 2012) and millennial social media users. Thus, the Increasing demand for online shopping will drive the leather and allied products market during the forecast period.
View Complete Report @https://www.thebusinessresearchcompany.com/report/leather-and-allied-products-market
Vegan leather is a key trend gaining popularity in the leather and allied products market. Vegan leather is plant-based leather made from cacti, pineapple leaves, mycelium, apple scraps and others. It is used as an alternative to animal-based leather to save animals' lives and reduce the harm caused to them. Major players focus on vegan leather to sustain their position in the market. For instance, in April 2021, Karl Lagerfeld, a German fashion house, launched its first-ever vegan cactus leather bag. This launch was conducted in collaboration with Amber Valletta, an American model, to create cruelty-free products.
The top opportunities in the leather and allied products market segmented by type will arise in the non-leather luggage, hand bags and other goods segment, which will gain $61.9 billion of global annual sales by 2026. The top opportunities in the leather and allied products market segmented by type of leather will arise in the split leather segment, which will gain $80.0 billion of global annual sales by 2026. The top opportunities in the leather and allied products market segmented by application will arise in the consumer goods segment, which will gain $147.5 billion of global annual sales by 2026. The top opportunities in the leather and allied products market segmented by distribution channel will arise in the online segment, which will gain $100.2 billion of global annual sales by 2026. The leather and allied products market size will gain the most in China at $44.7 billion.
Leather And Allied Products Market Segmentation:
The Leather And Allied Products Market is segmented by type, by type of leather, by application, by distribution channel.
By Type -
a) Leather Footwear
b) Non-Leather Footwear
c) Leather Luggage, Hand Bags And Other Goods
d) Non-Leather Luggage, Hand Bags And Other Goods
e) Leather Tanning

By Type of Leather-
a) Full- Grain Leather
b) Top-Grain Leather
c) Split Leather
d) Bonded Leather

By Application-
a) Automotive
b) Furniture
c) Consumer Goods

By Distribution Channel-
a) Online
b) Offline

Major players in the Leather And Allied Products Market include
LVMH Moët Hennessy Louis Vuitton
Kering SA
Hermès International S.A.
Nike Inc.
Adidas AG

The regions covered in the global Leather And Allied Products Market market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Download FREE SAMPLE Report - https://www.thebusinessresearchcompany.com/sample_request?id=8429&type=smp

The latest report from The Business Research Company, 'Global Leather And Allied Products Market Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Leather And Allied Products Market Report Table Of Content
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
........................

23. Key Mergers And Acquisitions
24. Market Background: Apparel And Leather Products Market Characteristics
25. Opportunities And Strategies
26. Leather And Allied Products Market, Conclusions And Recommendations
27. Appendix

PURCHASE the report @https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8429

Get to know us better:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info

LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/

This release was published on openPR.