South America Leather Goods Market Outlook, 2028

South America Leather Goods Market Outlook, 2028

In South America, leather has been an important material for centuries, and many traditional crafts and skills have been passed down from generation to generation. Furthermore, South America is home to many skilled artisans who are able to produce high-quality leather goods using traditional techniques. These artisans are highly valued for their expertise and craftsmanship, and their work is often in high demand. Moreover, leather goods are often featured prominently in runway shows and collections. This exposure helps to drive demand for leather goods among consumers as they become more aware of the latest trends and styles. In addition, South America is a popular destination for tourists, many of whom are interested in buying local products as souvenirs. Leather goods are often popular among tourists, who are drawn to the quality and craftsmanship of these products. In addition, many governments in South America provide support to the leather goods industry, recognizing its importance to the economy. This support may come in the form of tax breaks, funding for research and development (R&D), or other forms of assistance that help manufacturers grow and thrive. Furthermore, one of the most famous leather goods in South America is the gaucho, or cowboy boot. These boots are traditionally worn by gauchos, who are cattle herders and cowboys in Argentina, Uruguay, and other parts of South America. Gaucho boots are often made from high-quality leather and feature intricate stitching and decorative details.

According to the research report, ""South America Leather Goods Market Outlook, 2028,"" published by Bonafide Research, the market is anticipated to add USD 11.61 Billion in size from 2023 to 2028. As the economy in South America continues to grow, there is an increasing demand for luxury leather goods, including high-end handbags, wallets, and shoes. Consumers are willing to pay a premium for these products, as they are seen as status symbols and are associated with quality and craftsmanship. Furthermore, South America is home to many exotic animal species, including snakes, crocodiles, and ostriches, and this has led to a growing demand for exotic leather goods. Products made from exotic leather are often seen as more luxurious and unique, and they command a higher price point than products made from more common types of leather. In addition, during the cooler months, consumers in South America look for leather goods that are warm and cosy. This includes boots, gloves, and jackets. Darker colours such as black, brown, and navy are popular during the winter season. Furthermore, the festive season, which includes Christmas and New Year's Eve, is a time when consumers in South America look for high-end leather goods such as luxury handbags, wallets, and shoes. These items are often given as gifts and are seen as a symbol of luxury and status. Moreover, South Americans are passionate about sports, and the sports season is an important time for leather goods manufacturers. Items such as football boots, athletic shoes, and sports bags are popular during this season.

In South America, Brazil is one of the largest leather goods markets in South America. The country is known for producing high-quality leather goods, especially shoes and handbags. Furthermore, the leather goods industry in Brazil is concentrated in the southern states of Rio Grande do Sul and Santa Catarina. The city of Franca in the state of So Paulo is known as the shoe capital of Brazil and produces a large number of leather shoes for the domestic and international markets. Furthermore, the leather goods industry in Colombia is concentrated in the city of Bogotá and the surrounding areas. The industry is made up of a large number of small and medium-sized enterprises that produce leather goods for the domestic and international markets. Colombian leather goods are known for their quality and durability. In addition, Argentina is known for its high-quality leather goods, especially leather jackets and boots. Argentine leather is considered to be some of the best in the world due to the country's strict regulations on the use of chemicals in the leather tanning process. Furthermore, the city of Buenos Aires is a hub for the leather goods industry in Argentina, with a large number of leather shops and factories located in the city. The Feria de Mataderos, a weekly market in Buenos Aires, is a popular destination for tourists looking to buy leather goods.

According to the report, based on type, the market is divided into genuine leather and synthetic leather. Genuine leather is known for its superior quality and durability compared to synthetic leather and other materials. Consumers in South America appreciate the longevity of genuine leather products, as they often see leather goods as a long-term investment. Furthermore, genuine leather is a natural material that is known for its comfort and breathability. This is especially important in South America, where temperatures can be hot and humid and consumer’s value products that are comfortable to wear. In addition, the synthetic leather segment has the highest CAGR during the forecast period. Synthetic leather products are often more affordable than their genuine leather counterparts. This makes them an attractive option for budget-conscious consumers who want to purchase high-quality products without breaking the bank.

Based on product type, South America is home to a number of outdoor activities, such as hiking, trekking, and rock climbing. Leather hiking boots and other types of outdoor footwear are popular products in the region, contributing to the footwear segment's high market share. Furthermore, leather footwear has a long history and cultural significance in many parts of South America. Traditional leather sandals, for example, are still widely worn in many countries in the region and are often considered a symbol of national identity. However, handbags are an important accessory in the world of fashion, and many consumers in South America are interested in following the latest trends and designs. This has led to a high demand for stylish and fashionable leather handbags, particularly among younger consumers. For instance, online sites where leather goods are sold in South America like Mercado Libre, Dafiti, Netshoes, Amazon, Linio, and more.

In South America, there are several certifications for leather goods that indicate quality, sustainability, and responsible production practises. For instance, the LWG (Leather Working Group) is an international organization that sets standards for the environmental performance of leather manufacturing facilities. Companies that receive LWG certification are recognized for using sustainable production methods, reducing waste and pollution, and maintaining high levels of worker safety and welfare. Furthermore, the RLC (Responsible Leather Certification) is a certification scheme developed by the Brazilian Leather Sustainability Initiative (BSCI) that recognizes companies that adhere to high standards of social and environmental responsibility. The certification covers the entire leather supply chain, from raw material sourcing to finished product delivery, and includes criteria such as chemical management, waste reduction, and fair labour practises. In addition, the Oeko-Tex Standard 100 is an international certification that ensures textile and leather products are free from harmful substances that could pose a risk to human health. Leather products that carry this certification mark have been tested for a wide range of harmful substances, including heavy metals, pesticides, and formaldehyde.

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., Giorgio Armani S.p.A., Kering SA , Skechers Inc., Capri Holdings Limited, Tapestry, Inc., Ralph Lauren Corporation, Compagnie Financière Richemont S.A.

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

Aspects covered in this report
• South 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.