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Exploring Growth Trends and Technological Advancements in the Leather and Allied Products Market: Size, Share, and Future Outlook
Leather And Allied Products Market
Leather And Allied Products Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $592.82 billion In 2028 At A CAGR Of 8.7% :
The leather and allied products market size has grown strongly in recent years. It will grow from $389.75 billion in 2023 to $424.85 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to increased disposable income and living standards, rise in foreign direct investments, strong economic growth in emerging markets and technology developments.
The leather and allied products market size is expected to see strong growth in the next few years. It will grow to $592.82 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to increasing demand for online shopping, the growing domestic and international tourism, increasing penetration of social media, rise in motorcycle sales and growing demand for sportswear and performance wear. Major trends in the forecast period include launching of different types of leather such as vegan leather, dritan leather, strategic partnerships and investments.
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Leather And Allied Products Market Major Segments
The leather and allied products market covered in this report is segmented -
1) By Type: Leather Footwear, Non-Leather Footwear, Leather Luggage, Hand Bags and Other Goods, Non-Leather Luggage, Hand Bags and Other Goods, Leather Tanning
2) By Leather Type: Full- Grain Leather, Top-Grain Leather, Split Leather, Bonded Leather
3) By Distribution Channel: Online, Offline
4) By Application: Automotive, Furniture, Consumer Goods
Key Driver - E-Commerce Surge Fuels Growth In Leather And Allied Products Market
Increasing demand for online shopping is expected to drive the leather and allied products market. Manufacturers can now 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. In countries such as India, for instance, e-commerce portals have boosted the sales of these products by giving larger exposure to producers who were confined to one geography.
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Prominent Trend - Fashion Meets Tech In Luxury Leather Wearables
Technological advances in the field of wireless technologies have enabled leather product manufacturers to integrate wearable technology into their products. Leading fashion designers are partnering with technology firms to produce trendy wearables and luxury products as the market is adopting this concept broadly. For instance, Ralph Lauren introduced the 'Ricky Smart Bag' made from premium leather that enables users to charge their phone by lifting one of the flaps that activates an internal light.
Leather And Allied Products Market Players
Major companies operating in the leather and allied products market report are LVMH Moët Hennessy Louis Vuitton, Kering SA, Hermès International S.A., Nike Inc, Adidas AG, VHSP Pty Ltd, Rimowa Cz Spol. S R. O, Changge Yixing Leather Co Ltd, Tapestry, Inc., Australia Pty Ltd, ASICS Corporation, Zdzblo Galanteria Skorzana Sp. z oo sp. k., Elena Pieles Argentinas Srl, Chemcrown Exports Limited, Joshua Pitt Pty Ltd, Eagle Ottawa China Ltd., A V Thomas Leather and Allied Products Limited, Bowron G.L., Christian Dior SE, Acknit Industries Limited, Bhartiya International Limited, Australian Leather Holdings Ltd, Jiangsu Maydiang Leather Goods Co Ltd, Giovanni RawHides, Kowro Bags, Nilpel L.L.C, Pangea Made Gmbh, Prada S.p. A, Walfertan Processors Pty Ltd, Zatchels, Buenos Aires Holding LLC, Zoela SA, Platypus Manufacturers Pty Ltd, Complete Leather Goods Afifi for Trading, J.Y.S. Enterprise Inc, Romed SRL, Slightly Alabama, Puma SE, Saudi Leather Industries Company SLIC, Xingye Leather Technology Co Ltd, Lotuff Leather, Packer Leather Pty Ltd, Onerom Impex SRL, San Javier caprinos S.R.L, Norpol Sp. z o.o., G.H. Michell & Sons Pty Ltd, Mercatto Group Company, The Yellow Bear Company, VKP LT OOO, Jacksons Tannery Pty Ltd, Golden Down Ltd, Datong Ltd, Anhui Anli Material Technology Co Ltd, Frank Clegg Leathergoods, American Leather Co, Monapetpee nig ltd, Murgon Leather Company Pty Ltd, Noah Waxman, KOZHA AO, Sharlene Ltd, Capri Holdings Limited, Corter Leather, Aleen And Ammar Trading Est., Cooperativa Dos Produtores De Avestruz Da Bahia, Skechers USA, Inc., Heller-Leder GmbH & Co. KG, AlOthmanFashion, Mtms Leather Shoes
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the leather and allied products market in 2023. Western Europe was the second largest region in the leather and allied products market. The regions covered in the leather and allied products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Leather And Allied Products Market Report Structure
3. Leather And Allied Products Market Trends And Strategies
4. Leather And Allied Products Market - Macro Economic Scenario
5. Leather And Allied Products Market Size And Growth
…..
27. Leather And Allied Products Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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