Press release
Leather Goods Market to Hit USD 507.14 billion by 2034 | Robust 6.5% CAGR Signals Strong Growth Ahead
Leather Goods Market
According to Polaris Market Research analysis, the global leather goods market was valued at USD 271.50 billion in 2024 and is projected to reach USD 507.14 billion by 2034. It is projected to register a compound annual growth rate (CAGR) of 6.5% from 2025-2034.
Market Scope
Leather, a durable and versatile material, is used to make furniture, bags, and other commodities. It comes in varied types with different attributes. Common leather goods include grain leather, secured leather, and suede. Comprehending the varied kinds of leather helps consumers in making informed buying decisions. For example, if durability and high quality are priorities, full-grain leather is often the best choice.
Leather handbags are a favored option as they are stylish and practical. They can be utilized for work or casual wear. Leather shoes and boots are also a normal option that appends style and ease, rendering them a perfect alternative for any outfit. Leather commodities such as wallets, belts and phone cases are specific attachments that provide everyday essentials a bit of style and class.
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Driving Factors
Growing Demand for Leather Commodities
Leather commodities such as handbags, footwear, and accessories are discerned as a sign of refinement and handiwork, causing robust demand covering several demographics. Further, urbanization and growing global fashion awareness have boosted consumer engrossment in superior leather commodities, especially in emerging markets, with an augmenting middle-class population pushed by growing consumer inclination for exclusive, long-lasting, and stylish commodities.
Shift towards Eco-Friendly Options
There is a growing inclination for eco-friendly leather options, such as vegetable-tanned and recycled leather commodities, with an escalating consciousness of green and moral sourcing. Brands are funding green production techniques to reduce their ecological footprint, embodying biodegradable substances and moral sourcing practices as consumers and manufacturers move towards ecologically accountable practices.
Competitive Landscape
The market is witnessing high competition, with the number of companies in the business growing rapidly. A list of key players profiled in the market are:
• ADIDAS
• American Leather Co.
• Bata India Ltd
• Bhartiya International
• CAPRI HOLDINGS LIMITED
• Hermès
• Kering
• LVHM
• Mayur Uniquoters Limited
• Metro Brands Limited.
• Prada
• Puma SE
• Tapestry, Inc.
• VIP Industries Ltd
• Woodland (Aero Club) Private Limited
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Leather Goods Market Report Highlights
o In terms of product, the footwear segment led the leather goods market share in 2024, fueled by its broad consumer appeal, versatility, and significant presence in both casual and formal footwear categories.
o Based on type, the synthetic leather segment is anticipated to experience the fastest growth during the forecast period, owing to its cost-effectiveness, adaptability, and eco-friendly attributes.
o Asia Pacific accounted for the largest share of the global leather goods market revenue in 2024, driven by its robust manufacturing infrastructure, high consumer demand, and the rapid expansion of its middle-class population.
o The market in Europe is expected to grow at the fastest rate during the forecast period, supported by the region's strong luxury brand presence, rising consumer expenditure on premium products, and an increasing emphasis on sustainability.
Market Segmentation
The leather goods market is categorized by type, product, end user, and region.
Based on product, the footwear segment dominated the market share in 2024, owing to its extensive consumer demand, convenience, and robust existence in both casual and formal segments.
Based on type, the synthetic leather segment is anticipated to observe the fastest growth during the forecast period owing to its economy, versatility, and sustainability.
Leather Goods Market, Type Outlook
• Genuine Leather
• Vegan Leather
• Synthetic Leather
Leather Goods Market, Product Outlook
• Apparel
• Luggage
• Footwear
• Others
Leather Goods Market, End-use Outlook
• Men
• Women
• Kids
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Regional Insights
Leather Goods Market, Regional Outlook (Revenue - USD Billion, 2020-2034)
o North America
» Type Outlook
» Genuine Leather
» Vegan Leather
» Synthetic Leather
» Product Outlook
» Cell Isolation/Separation
» Cell Imaging & Counting
» Cell Viability & Proliferation
» Other Product
» End-use Outlook
» Men
» Women
» Kids
o Europe
» Type Outlook
» Genuine Leather
» Vegan Leather
» Synthetic Leather
» Product Outlook
» Cell Isolation/Separation
» Cell Imaging & Counting
» Cell Viability & Proliferation
» Other Product
» End-use Outlook
» Men
» Women
» Kids
o Asia Pacific
» Type Outlook
» Genuine Leather
» Vegan Leather
» Synthetic Leather
» Product Outlook
» Cell Isolation/Separation
» Cell Imaging & Counting
» Cell Viability & Proliferation
» Cell Viability & Proliferation
» Cell Viability & Proliferation
» Other Product
» End-use Outlook
» Men
» Women
» Kids
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