Market Overview:
The Global Leather Goods Market size is expected to grow from USD 259.19 billion in 2022 to USD 349.30 billion by 2030, at a CAGR of 3.8% during the forecast period (2023-2030).
Leather is a durable, flexible, and long-lasting material that is created by chemically preserving animal skins and hides. The most common sources of leather are cattle, sheep, goats, equestrian animals, buffalo, pigs and hogs, and aquatic animals like seals and alligators. Leather can be used to make a variety of durable products, such as furniture, tools, sporting goods, shoes, purses, and clothing. The world's two largest producers of leather today are China and India, and the material has been produced for more than 7,000 years. The increasing population combined with rising personal income levels is one of the main factors boosting demand for leather goods globally. Furthermore, these products are becoming more and more well-liked all over the world because they are useful, enjoyable, and affordable.
Top Key Players Covered In The Leather Goods Market:
- Adidas AG (Germany)
- Nike Inc. (U.S.)
- Puma SE (Germany)
- Fila Inc. (South Korea)
- New Balance Athletics Inc. (U.S.)
- Knoll Inc. (U.S.)
- Samsonite International S.A. (Hong Kong)
- VIP Industries Ltd. (India)
- Timberland LLC (U.S.)
- Johnston & Murphy (U.S.)
- Woodland Worldwide (India)
- Hermès International S.A. (France)
- Louis Vuitton Malletier (France)
- VF Corp. (U.S.)
- COLLAR Company (U.S.)
- LUCRIN Geneva (Switzerland)
- Nappa Dori (India)
- Saddles India Pvt. Ltd. (India)
- Lear Corp (U.S.) and other major players.
Market Dynamics and Factors:
Growing demand for luxury goods is driving the market of leather goods China, India, Brazil, Vietnam, and Italy are among the top-producing nations for leather goods; some are more significant for high-end and luxury goods, while others are more significant for sheer volume. Italy, France, Belgium, and Spain export the most leather goods in Europe, despite the continent's overall decline in leather goods production. The demand for luxury goods has grown in tandem with individuals’ increased disposable income. These goods often symbolize a sense of accomplishment within individuals, giving them higher self-esteem.
New technology is expected to create new opportunities for the leather goods market. To streamline the production process and make it quicker and less expensive, leather manufacturers are investing in cutting-edge automated equipment and operational systems. The popularity and adaptability of leather consumer goods are rising as a result of modern processing methods in leather manufacturing, such as digital cutting, more intricate designs, or blending with textile fabrics (such as silk leather)
Leather Goods Market Report Highlight:
- By type, the footwear segment is anticipated to lead the growth of the Leather Goods market in the forecasted timeframe. Nike, New Balance, Adidas, Puma, Reebok, Allbirds, and Converse are among the major athletic footwear brands that have ventured into leather athletic manufacturing in response to rising consumer demand for leather sports footwear.
- By Distribution Channel, the online sales channel segment is expected to have the highest share of the Leather Goods market over the projected period. A load balancer can be placed on the cluster's leader node(s) or provisioned independently. The load balancer may detect if a node in the cluster has failed by doing periodic health checks on each node, and if so, it will channel incoming traffic to the other nodes in the cluster, thereby boosting segment growth.
- The Europe region is expected to have the highest share of the Leather Goods market over the projected period. In the worldwide marketplace, the EU tanning sector is the world's largest provider of leather. In terms of leather and raw material, the EU produces some of the most valuable calfskins.
Key Industry Development:
- In October 2021, The latest collaboration between Roots is Révolutionnaire by Roots, a purpose-driven outdoor lifestyle brand with nearly 50 years of experience, and Révolutionnaire, a mission-based organization focusing on inclusivity and social justice. The one-year partnership began with the "Dreams Fuel Revolutions" t-shirt in February 2021, and it is still going strong with a line of opulent fleece in six colors, as well as limited edition leather jackets and bags.
- In March 2022, A brand of high-end leather goods called MaheTri, which has its roots in Rajasthan, now has a global following. The company conducts business globally via its online channels. This brand combines natural leather with cutting-edge, meticulously designed products to highlight Indian craftsmanship. The company was founded in Udaipur, the magnificent city of lakes, by Mahendra Singh and Trishal Lohar.
Leather Goods Market Segmentation:
By Type
- Footwear
- Luggage
- Accessories
By Distribution Channel
- Offline
- Online
For this report, Introspective Market Research has segmented the Leather Goods Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Rest Of Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
