Leather Goods Market by Product Type (Apparel, Defense and Protective Items, Footwear), Type (Bonded Leather, Corrected Leather, Full Grain Leather), Distribution Channel, Gender - Global Forecast 2024-2030

Leather Goods Market by Product Type (Apparel, Defense and Protective Items, Footwear), Type (Bonded Leather, Corrected Leather, Full Grain Leather), Distribution Channel, Gender - Global Forecast 2024-2030

The Leather Goods Market size was estimated at USD 240.33 billion in 2023 and expected to reach USD 246.44 billion in 2024, at a CAGR 2.63% to reach USD 288.24 billion by 2030.

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.

Regional Insights

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 Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Leather Goods Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Rising Demand for Premium and Trendy Leather Handbags Globally
    • Increasing Disposable Income and Spending on Premium Leather Apparel
    • Government Initiatives to Support the Leather Industry
    • Market Restraints
      • High Cost of the Products
      • Social Concerns Related to Animal Cruelty
      • Market Opportunities
        • Ongoing Penetration Through E-Commerce
        • Introduction of New Designs and Types of Leather Products
        • Market Challenges
          • Varying Regulations on Import and Export of Products
          • Environmental Hazards of Leather Production
          • Market Segmentation Analysis
            • Type: Increasing utilization of full grain leather due to its strength and durability
            • Distribution Channel: Growing preference for exclusive stores by customers due to their personalized customer experience
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Leather Goods Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Leather Goods Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Brand Concepts Ltd. is all set to launch the new range of United Colors of Benetton in Travel Gear, Handbags, Small Leather Goods & Accessories
              
              Brand Concepts Ltd, a premier fashion retail leader in India specializing in travel gear, handbags, and accessories, announced a strategic partnership with the globally acclaimed United Colors of Benetton. This collaboration is set to introduce a unique line of journey accessories and small leather goods tailored for the Indian marketplace. Under a licensing agreement, Brand Concepts spearheaded the collection’s design, manufacturing, and distribution while integrating United Colors of Benetton India’s iconic color-focused and socially-conscious creative vision.
              
              Gruppo Florence establishes a leather goods unit with acquisitions of Effebi and A.L.B.A.
              
              Gruppo Florence reinforced its stronghold in the high-end manufacturing domain through strategic acquisitions. The group has recently expanded its luxury production capabilities by purchasing A.B.C. Ricami, an embroidery specialist, alongside Effebi srl and A.L.B.A. srl, two renowned Tuscan leather goods companies. Effebi, hailing from Scandicci, is lauded for its 30 years of excellence in leather bag production.
              
              Private Equity Firm Takes Control of Italian Leather Goods Supplier
              
              Permira, an investment firm, has recently undertaken a major acquisition, securing a dominant share of Gruppo Florence, an esteemed consortium of Italian luxury clothing and leather goods manufacturers. The transaction placed Gruppo Florence's valuation in excess of Euro 1 billion, underscoring the private equity sector's strategic shift towards the 'buy and build' approach, focusing on the luxury industry's supply chain intricacies.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Leather Goods Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            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.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Leather Goods Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Product Type
              • 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
              • Wallets & Purses
              • Type
                • Bonded Leather
                • Corrected Leather
                • Full Grain Leather
                • Split Grain Leather
                • Synthetic Leather
                • Top Grain Leather
                • Distribution Channel
                  • Convenience Stores
                  • Exclusive Store
                  • Modern Trade
                  • Online Stores
                  • Gender
                    • Female
                    • Male
                    • Region
                      • Americas
                        • Argentina
                        • Brazil
                        • Canada
                        • Mexico
                        • United States
                          • California
                          • Florida
                          • Illinois
                          • New York
                          • Ohio
                          • Pennsylvania
                          • Texas
                          • Asia-Pacific
                            • Australia
                            • China
                            • India
                            • Indonesia
                            • Japan
                            • Malaysia
                            • Philippines
                            • Singapore
                            • South Korea
                            • Taiwan
                            • Thailand
                            • Vietnam
                            • Europe, Middle East & Africa
                              • Denmark
                              • Egypt
                              • Finland
                              • France
                              • Germany
                              • Israel
                              • Italy
                              • Netherlands
                              • Nigeria
                              • Norway
                              • Poland
                              • Qatar
                              • Russia
                              • Saudi Arabia
                              • South Africa
                              • Spain
                              • Sweden
                              • Switzerland
                              • Turkey
                              • United Arab Emirates
                              • United Kingdom
                              
                              
                              Please Note: PDF & Excel + Online Access - 1 Year