Leather Luggage and Goods Market By Product Type (Leather Luggage, Leather Goods) , By End User (Men, Women) By Mode of Sale (Online Stores, Retail Stores) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Leather Luggage and Goods Market
The leather luggage and goods market was valued at $285.3 billion in 2023 and is projected to reach $466.9 billion by 2033, growing at a CAGR of 5.1% from 2024 to 2033.
Leather luggage and goods are a representation of luxury, style, & sophistication for individuals. The luggage segment comprises high-end trolley bags and suitcases, whereas the goods segment includes wallets, belts, footwear, and handbags. The key attributes of leather luggage & goods are their longevity, durability, natural protection, aesthetic appeal, and sustainability. Various types of leather are used for the manufacturing of products such as top-grain, full-grain, corrected-grain, and bonded leather.
Rise in disposable income of individuals is a key driver of the leather luggage and goods market. In addition, increase in popularity of high-end luxury goods has augmented the development of the market. Furthermore, the availability of customized designs as per the unique preferences of individuals propels the market growth significantly. A notable trend gaining prominence in the leather luggage and goods market is the use of automation & digital techniques for the manufacturing of products. Automated cutting equipment and computer-aided designing software are becoming customary in the leather industries to produce efficient & consistent products.
However, ethical concerns pertaining to animal welfare & upright production practices discourage several individuals from purchasing leather luggage and goods. Moreover, the emergence of several vegan and sustainable alternatives is restraining the market growth. According to McKinsey—a global management consulting firm—innovative bio-based leather alternatives are becoming easily available at comparatively lower costs. Contrarily, the assimilation of technology into leather products is projected to open new avenues for the leather luggage and goods market. Manufacturers are focusing on the integration of sensors & smart equipment such as GPS trackers, solar-powered panels, and fingerprint locks into leather products to appeal the consumers seeking a connected & tech-oriented lifestyle. Therefore, the blend of functional attributes and conventional craftsmanship is poised to present lucrative opportunities for the market expansion.
Segment ReviewThe leather luggage and goods market is segmented into product type, end user, mode of sale, and region. On the basis of product type, the market is bifurcated into leather luggage and leather goods. Depending on end user, it is divided into men and women. As per mode of sale, it is classified into online stores and retail stores. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of product type, the leather goods segment acquired a high stake in the market in 2023.
Depending on end user, the women segment dominated the market in 2023.
As per mode of sale, the online stores segment held a high share of the market in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition AnalysisThe major players in the global leather luggage and goods market include Delsey S.A., Hermes International S.A., Louis Vuitton, Christian Dior SE, Kering S.A., Samsonite International S.A., Prada S.p.A., VIP Industries Limited, and Coach, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy Product TypeLeather Luggage
Leather Goods
By End UserMen
Women
By Mode Of SaleOnline Stores
Retail Stores
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Thailand
Malaysia
Indonesia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Argentina
Rest of LAMEA
Key Market PlayersDelsey S.A
Hermes International S.A.
Louis Vuitton
Christian Dior SE
Kering SA.
Samsonite International S.A
Prada S.p.A.
VIP Industries Limited
Coach, Inc.