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Leather Goods Market worth $288.24 billion by 2030, growing at a CAGR of 2.63% - Exclusive Report by 360iResearch
Leather Goods Market | 360iResearch
The Global Leather Goods Market to grow from USD 240.33 billion in 2023 to USD 288.24 billion by 2030, at a CAGR of 2.63%.
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Leather goods refer to articles and products that are crafted from leather, which is a durable and flexible material obtained through the tanning of animal skins and hides, primarily sourced from cattle. The rich heritage and craftsmanship of leather goods span across various categories, including fashion accessories, apparel, luggage, home furnishings, and other utilitarian items. Esteemed for their longevity, aesthetic appeal, and tactile sensation, leather goods often denote luxury and high quality. Shifts in consumer preferences towards high-quality and sustainable products, along with the increasing disposable incomes in emerging markets, have led to higher spending on luxury goods. However, higher-quality and lower-cost synthetic materials pose a threat to the market. In addition, stricter regulations on animal welfare and waste disposal affect production processes. Furthermore, emerging opportunities in the leather goods market include the adoption of eco-friendly tanning methods and the creation of bio-based leather alternatives. The rising awareness of ethical fashion is driving demand for cruelty-free and vegan products, which presents potential for innovative materials.
The American region, including the United States & Canada, stands as a significant market for leather goods, marked by a high consumer spending capability and a strong preference for premium quality leather products, be they accessories, footwear, and apparel. The demand for sustainable and ethically sourced leather is on the rise, showing a shift towards conscious consumerism. The market is noted for its demand for durable leatherwear amidst harsh climatic conditions, fostering interest in innovative weather-resistant leather products. The European Union benefits from a rich heritage in leather craftsmanship, with consumers favoring luxury and designer brands. Eco-friendly and responsibly manufactured goods are increasingly popular in response to environmental concerns. There is a luxurious market segment within the Middle East, with a penchant for bespoke and high-end leather products, particularly within the Gulf Cooperation Council (GCC) countries. The Middle Eastern market also exhibits strong demand during religious and cultural festivals. APAC is a substantial region in both the production and consumption of leather goods. The market is evolving with the growing middle class's appetite for luxury brands, and there's a noticeable trend toward omnichannel retailing. With a vast and diverse consumer base, the leather goods market is propelled by its strong manufacturing sector and the growing adoption of Western fashion trends among the expanding middle and upper-middle classes.
Market Segmentation & Coverage:
This research report categorizes the Leather Goods Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product Type, market is studied across Apparel, Defense and Protective Items, Footwear, Furniture, Leather Body Items, Leather Containers and Holders, Leather Household Items, Luggage, Music Items, Pets Accessories, Sport Leather Items, and Wallets & Purses. The Footwear commanded largest market share of 15.42% in 2023, followed by Furniture.
Based on Type, market is studied across Bonded Leather, Corrected Leather, Full Grain Leather, Split Grain Leather, Synthetic Leather, and Top Grain Leather. The Synthetic Leather commanded largest market share of 28.37% in 2023, followed by Top Grain Leather.
Based on Distribution Channel, market is studied across Convenience Stores, Exclusive Store, Modern Trade, and Online Stores. The Exclusive Store commanded largest market share of 68.04% in 2023, followed by Convenience Stores.
Based on Gender, market is studied across Female and Male. The Male commanded largest market share of 43.69% in 2023, followed by Female.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 39.27% in 2023, followed by Asia-Pacific.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Leather Goods Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Leather Goods Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Leather Goods Market, highlighting leading vendors and their innovative profiles. These include Adidas AG, American Leather Operations, LLC, Belcinto, Betangible, Capri Holdings Limited, CIMA Leather Goods, Compagnie Financière Richemont SA, Delsey S.A., Feralex, Genesco Inc., Hermes International SA, Italian Shoe Factory, Kering SA, LVMH Moët Hennessy Louis Vuitton SE, Manetti Silvana, Moncler S.p.A., Mowbray Leather Goods, MPLG Ltd., Prada S.p.A., Ralph Lauren Corporation, Salvatore Ferragamo S.p.A., Samsonite International S.A., Tapestry, Inc., V. F. Corporation, VIP Industries Limited, Woodland Worldwide, and Yarwood Leather.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Leather Goods Market, by Product Type
7. Leather Goods Market, by Type
8. Leather Goods Market, by Distribution Channel
9. Leather Goods Market, by Gender
10. Americas Leather Goods Market
11. Asia-Pacific Leather Goods Market
12. Europe, Middle East & Africa Leather Goods Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Leather Goods Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Leather Goods Market?
3. What is the competitive strategic window for opportunities in the Leather Goods Market?
4. What are the technology trends and regulatory frameworks in the Leather Goods Market?
5. What is the market share of the leading vendors in the Leather Goods Market?
6. What modes and strategic moves are considered suitable for entering the Leather Goods Market?
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