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Skin And Hide Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Skin And Hide Market
According to The Business Research Company's, The skin and hide market size has grown strongly in recent years. It will grow from $129.14 billion in 2023 to $137.71 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to fashion and apparel industry, footwear manufacturing, automotive upholstery, furniture production, consumer preferences..
The skin and hide market size is expected to see strong growth in the next few years. It will grow to $174.69 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to sustainable fashion trends, automotive interior design, luxury goods market, innovations in leather products, regulatory compliance.. Major trends in the forecast period include innovations in tanning processes, customization and personalization, circular economy initiatives, alternative leather solutions, digital technologies in marketing..
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Market Drivers and Trends:
The increasing demand for leather is expected to boost the growth of the skin and hide market going forward. Leather refers to a product derived from animal skin that is used to create a variety of products, including footwear, purses, and furniture covers. Animal hides or skins are chemically treated to create leather, a process known as tanning. The hides are preserved through this procedure, after which they can be utilized to make shoes, clothing, and upholstered furniture, among other things, hence, the increasing demand for leather is expected to boost the skin and hide market. For instance, in August 2022, according to a report published by World Footwear, a Portugal-based provider of information, news, events, and statistics on the footwear sector worldwide, the sales of the Leather Products and Saddlery business of Hermès International, a France-based luxury goods company, increased by 16% in the first quarter of 2022 compared to the same period in 2021, due to expanded manufacturing capacity and consistent demand. Therefore, the increasing demand for leather is driving the growth of the skin and hide market.
Technological advancement is the key trend gaining popularity in the skin and hide market. Major companies operating in the skin and hide market are focusing on incorporating new technologies to sustain their position in the market. For instance, in May 2021, ECCO, a Denmark-based company that offers top-quality leathers and innovative technology, launched DriTan 2.0 technology, a stage in the leather tanning process that yields measurable improvements in all relevant metrics, including water and energy use, chemicals, wastewater, and sludge. The unique feature of DriTan 2.0 technology is that it enables ECCO to use less energy while reducing the use of chemicals. Through the introduction of DriTan 2.0, ECCO upholds a concept that recognizes the value of the world's pristine natural resources and uses just what is necessary to make leathers of the highest quality.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Norilia Nordic AS; Sanimax Corporation; Texpac Hide & Skin Ltd.; AI Bravo Leather Industries; J & E Sedgwick & Co. Ltd.; OZ-YUKSEL Leather Company; JBS Couros S.A.; Koktaslar Leather; Siddiq Leather Works Pvt. Ltd.; Gruppo Mastrotto SpA; Leather Working Group; Horween Leather Co.; Baker Commodities Inc.; The Hide & Leather House Inc.; Maverick Leather Company; PrimeAsia Leather Corporation; Scottish Leather Group Limited; Couro Azul S.A.; Couroart Indústria e Comércio de Couros Ltda.; Dani Leather; Eagle Ottawa LLC; GST AutoLeather Inc.; Elmo Leather AB; Garrett Leather; Shoe Repair And Leather Goods; Nugget Co.; Darling International Inc.; Exeter Machine Co.; Bandera USA; Spinneybeck Enterprises Inc.
Skin And Hide Market 2024 Key Insights:
• The skin and hide market will grow to $174.69 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• Leather's Surge Growing Demand Propels Skin And Hide Market Expansion
• Companies Revolutionize Leather Production With Advanced Technologies In The Skin And Hide Market
• Asia-Pacific was the largest region in the skin and hide market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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