A Luggage And Leather Goods Market, By Type (Leather Goods, Luggage), By Sales Channel (General Retailers, Single Brand Stores, Specialty and Multi-brand stores, Unorganized small stores, Online, Others) By Geography (North America, Latin America, Europe

Luggage And Leather Goods Market, By Type (Leather Goods, Luggage), By Sales Channel (General Retailers, Single Brand Stores, Specialty and Multi-brand stores, Unorganized small stores, Online, Others) By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

The luggage and leather goods Market size was valued at US$ 495.5 Bn in 2023 and is expected to reach US$ 740.2 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.1% from 2024 to 2031.

Figure 1. Luggage and leather goods Market Share (%), By Region, 2024

Global luggage and leather goods market has been witnessing steady growth over the past few years. Factors such as expanding middle-class population, rising tourism activities, increasing disposable incomes and growing consumer spending on luxury and fashion items have been positively influencing the demand for high quality luggage, purses, wallets and other leather goods. However, volatile leather prices are coupled with the availability of affordable synthetic substitutes that present a few challenges for the market players. Moreover, changing consumer preferences towards compact and lightweight bags is prompting companies to develop innovative and technologically advanced products. Overall, the industry has strong growth potential over the long run on account of evolving consumer lifestyles and the growing need for premium and branded luggage/leather products worldwide. Luggage and leather goods are produced from leather which is made up of animal skin. These products are highly durable and offer aesthetic look to the products. Leather goods includes footwear, clutches and wallets, clothing, and apparel, upholstery (furniture and automotive), and leather accessories.

Market Dynamics:

The key drivers propelling the global luggage and leather goods market forward include rapid urbanization, increasing youth population and proliferation of the e-commerce retail space which has significantly enhanced product discovery and accessibility across geographies. At the same time, strict emission regulations and rising environmental concerns surrounding livestock farming pose restraints to the market. On the positive side, growing preference of consumers towards eco-friendly vegan leather variants present lucrative opportunities for manufactures to expand their sustainable product portfolios. Rising global tourism and business travel activities are further stimulating the demand for high quality luggage bags.

Key features of the study:

• This report provides an in-depth analysis of the global luggage and leather goods market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global luggage and leather goods market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Knoll, American Leather., Aero Leather Clothing Ltd., Samsonite International S.A.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• Global luggage and leather goods market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global luggage and leather goods market.

Detailed Segmentation:

• Global Luggage and leather goods Market, By Type
• Leather Goods

 Footwear

 Clothing and Apparel

 Clutches and Wallets

 Upholstery (Furniture and Automotive)

 Leather Accessories

 Others

• Luggage

 Rolling Luggage

 Duffle Bags

 Suitcases and Briefcases

 Backpacks

 Totes and Hand-luggage

 Others

• Global Luggage and leather goods Market, By Sales Channel
• General Retailers
• Single Brand Stores
• Specialty and Multi-brand stores
• Unorganized small stores
• Online
• Others
• Global Luggage and leather goods Market, By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa
• Top Companies in the Global Luggage and leather goods Market:
• Knoll Inc.
• American Leather, Inc.
• Aero Leather Clothing Ltd.
• Samsonite International S.A.
• VIP Industries Ltd.
• LVMH Moët Hennessy Louis Vuitton SE
• Timberland,
• Johnston & Murphy
• Woodland
• Hermes International SA.