North America Leather Goods Market Outlook, 2028

North America Leather Goods Market Outlook, 2028

The North American leather goods market is a vibrant and exciting industry that provides consumers with a diverse range of high-quality products that are both fashionable and functional. The market is well-positioned for continued growth, with a focus on craftsmanship, innovation, and sustainability. Furthermore, rising disposable income levels in North America have led to higher consumer spending on luxury goods, including leather goods. As consumers become more financially stable, they are more likely to invest in high-quality products that are durable and long-lasting. Moreover, North America has a strong fashion culture, with consumers valuing stylish and fashionable products. Leather goods have become a staple in the fashion industry, with designers and brands continuously creating new and innovative designs to appeal to consumers' changing tastes. In addition, leather goods are known for their quality and durability, making them an attractive option for consumers looking for long-lasting products. Consumers are willing to invest more in leather goods, knowing that they are getting a product that will last for years. Furthermore, North America is a popular destination for international tourists, who often purchase leather goods as souvenirs. Additionally, North Americans themselves are frequent travelers, and leather goods such as luggage and travel bags are essential items for many travelers.

According to the research report, ""North America Leather Goods Market Outlook, 2028,"" published by Bonafide Research, the market is anticipated to add USD 32.30 Billion in size from 2023 to 2028. The North American leather goods market experiences seasonal trends that impact the demand for different product categories throughout the year. Furthermore, during the fall and winter months, leather jackets and coats are among the most popular leather goods items. As the weather turns colder, consumers seek out warm, durable outerwear to protect them from the elements. Leather jackets are particularly popular due to their versatility, durability, and timeless style, making them a staple of many wardrobes. In addition, from ankle boots to knee-high styles, leather boots are a popular choice for men and women, providing warmth, comfort, and style during the colder months. Moreover, as the weather turns warmer, demand for leather goods shifts to lighter products suitable for spring and summer. Sandals, in particular, are in high demand during this time as consumers seek out comfortable and breathable footwear to wear in the warmer months. Leather sandals are particularly popular due to their durability and versatility, with styles ranging from casual to dressy. Furthermore, lighter bags are also in high demand during the spring and summer months, with consumers looking for options that are both stylish and functional. Cross body bags, tote bags, and backpacks are all popular styles, with many manufacturers offering designs specifically tailored to summer activities such as beach trips and outdoor adventures. In addition, technology integration in the form of built-in charging stations and GPS trackers is becoming increasingly common in the market. Furthermore, retro-inspired designs such as distressed leather and patina finishes are making a comeback in the market. Moreover, smart features such as anti-theft locks and RFID blocking technology are becoming more common in the market.

The North American leather goods market is divided into three main countries: the United States, Canada, and Mexico. The United States is the largest market for leather goods in North America. Furthermore, the market is driven by a strong economy and a consumer culture that values quality and style. Leather jackets, handbags, and footwear are among the most popular items in the US market, with consumers seeking out high-quality materials and artisanal craftsmanship. The market is also characterized by a high level of competition, with many established brands competing for market share alongside smaller, boutique manufacturers. Moreover, the United States is home to some of the most iconic leather goods brands in the world, including Coach, Michael Kors, and Ralph Lauren. These brands have helped to shape the global leather goods market and have set the standard for quality and craftsmanship. Furthermore, the Canadian leather goods market is also influenced by local trends and cultural preferences. For instance, there is a growing interest in Indigenous-inspired designs and materials, with many Canadian leather goods brands incorporating Indigenous motifs and traditional materials into their products. Furthermore, Mexico has a long tradition of leatherworking, dating back to pre-Columbian times. Today, Mexican leather goods are known for their high quality and attention to detail, with many manufacturers using traditional techniques passed down through generations.

The market is divided into two types: genuine leather and synthetic leather. Genuine leather has made significant contributions to the market, accounting for approximately 82.80% of the market in 2022. This type of leather is made from the hides or skins of animals, such as cows, goats, or sheep. Genuine leather is highly durable and has a unique texture and appearance that can vary depending on the type of animal and the tanning process used. It is also breathable, which makes it a popular choice for clothing and accessories. Genuine leather is often more expensive than synthetic leather due to the cost of production and the higher quality of the material. However, synthetic leather is made from man-made materials such as polyurethane (PU) or polyvinyl chloride (PVC). Synthetic leather is often less expensive than genuine leather and can be produced in a wide range of colours and textures. However, it is generally less durable and breathable than genuine leather and may not have the same natural look and feel. Synthetic leather is often used in products such as shoes, handbags, and upholstery.

Based on product type, the market is divided into footwear, handbags, small leather goods and accessories, apparel, home décor and furnishing, pet accessories, automotive accessories, luggage, and bags. Footwear is one of the most popular categories on the market. Many consumers in the North American leather goods market are loyal to certain brands when it comes to footwear. Popular brands such as Nike, Adidas, and Converse have established a strong presence in the market and have built up a loyal customer base over the years. This brand loyalty can be a significant factor in driving sales and market share within the footwear segment. Furthermore, the use of 3D printing technology is becoming increasingly popular in the manufacturing of leather footwear in North America. This technology is being used to create prototypes of new designs and to produce custom-made footwear. With 3D printing, footwear companies can save time and reduce costs by creating samples without the need for traditional manufacturing methods. In addition, the handbag segment had the highest CAGR of 6.60% during the forecast period. Online shopping has made it easier for consumers to browse and purchase handbags from the comfort of their homes. This has led to an increase in the overall demand for handbags in the North American leather goods market. For instance, popular types of leather handbags in the North American market include cross body bags, tote bags, backpacks, clutch bags, bucket bags, satchel bags, hobo bags, messenger bags, shoulder bags, wristlets, and more.

Based on distribution channels, the market is divided into specialty stores, supermarkets and hypermarkets, brand outlets, online stores, and others. Specialty stores are a major distribution channel for leather goods in North America. These stores offer a wide range of leather goods, including bags, wallets, belts, and footwear. For instance, the popular specialty stores in North America include Coach, Michael Kors, and Kate Spade. Furthermore, supermarkets and hypermarkets also play an important role in the distribution of leather goods in North America. These stores offer a wide range of products, including leather goods, at affordable prices. Some of the popular supermarkets and hypermarkets in North America include Walmart, Target, and Costco. In addition, online stores are becoming an increasingly important distribution channel for leather goods in North America. Online stores offer a convenient way to shop for leather goods from the comfort of one's home. Many online stores offer a wide range of products, including leather goods from different brands at different price points. Some popular online stores for leather goods in North America include Amazon, Nordstrom, and Zappos.

Leather goods sold in North America must comply with labelling regulations set by the Federal Trade Commission (FTC) and other regulatory agencies. These regulations require manufacturers to accurately label the materials used in their products and provide information on the country of origin, care instructions, and other relevant details. Furthermore, the leather tanning process involves the use of various chemicals, and manufacturers are required to comply with strict regulations related to the use and disposal of these chemicals. In the United States, the Environmental Protection Agency (EPA) regulates the use of chemicals in the leather tanning process to protect public health and the environment. Moreover, the leather goods industry in North America is subject to strict animal welfare standards to ensure that animals are treated humanely and ethically. For example, the Leather Working Group (LWG) requires its members to comply with strict animal welfare standards and to source leather from suppliers that meet these standards. In addition, the leather goods industry in North America is also subject to strict labour standards to ensure that workers are treated fairly and ethically. The Fair Labour Standards Act (FLSA) and other labour laws regulate the minimum wage, overtime pay, and other working conditions for employees in the industry.

Major Companies present in the market:
Adidas AG, Nike, Inc, Puma SE, FILA Holdings Corporation, MillerKnoll Inc ( Formerly Herman Miller Inc), VF Corporation, Hermès International S.A., LVMH Moët Hennessy Louis Vuitton, Samsonite International S.A., New Balance Athletics, Inc., Prada S.p.A., Genesco Inc., Giorgio Armani S.p.A., Kering SA , Skechers Inc., Capri Holdings Limited, Tapestry, Inc., Ralph Lauren Corporation, LUCRIN Geneva, Compagnie Financière Richemont S.A.

Considered in this report
• Geography: North America
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• North America Leather Goods market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type
• Genuine Leather goods
• Synthetic Leather goods

By Product Type
• Footwear
• Handbags
• Small Leather Goods/ Accessories
• Apparel
• Home Décor and Furnishing
• Pet Accessories
• Automotive Accessories
• Luggage & bags

By Distribution Channel
• Speciality Store
• Supermarkets and Hypermarkets
• Brand Outlets
• Online Stores
• Others (General retail, B2B, discount stores, flea markets, and specialty boutiques)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Leather Goods industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.