Leather Goods Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Leather goods Market
The leather goods market size was valued at USD 440.64 billion in 2022, and the market is now projected to grow from USD 468.49 billion in 2023 to USD 738.61 billion by 2030, exhibiting a CAGR of 6.7% during the forecast period of 2023-2030.
The COVID-19 pandemic expressively impacted the worldwide economy and multiple trades. Further resulting in lockdowns and limitations the governments forced around the world to manage the spread of infection. These government limitations and guidelines further stopped the industries as all the trade units apart from essential goods were closed down.
Luxury goods have witnessed an upsurge in demand in recent years due to the business's fast digital transformation and the number of innovative product introductions. The developing market, is a substantial growth provider. The rising occurrence of innovative natural leather as a luxury product and the growth in the use of original leather in style events and by stylists are further driving the global leather goods market growth.
Awareness of ecological and cruelty-free products has increased exponentially in recent years. Consequently, customers are becoming more aware of their choices, particularly when purchasing products that are animal-based or have caused destruction to animals during their production. The mounting use of synthetic leather in the automotive, apparel, and furniture industries is motivating the development of synthetic leather.
Comprehensive Analysis of Leather goods Market
The market can be segmented in various ways depending on the focus of study such as by end users and by application. Based on the source, the market is segmented into full-grain leather and synthetic leather.By product, the market is segmented into footwear, apparel, luggage, and others.By end-user, the market is segmented into men, women, and kids.
Asia Pacific region is dominating the leather goods market share due to extremely varied user base with a mounting demand for footwear. Also, the upsurge in disposable income, development, service opportunities and others are anticipated to motivate the market development.
The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and growing market share by merger, partnerships and others. These players include
Hermes International (France), LVMH Moët Hennessy Louis Vuitton (France), Kering (France), Prada (Italy), Capri Holdings (U.S.), Vf Corporation (U.S.), Kuraray Co., Ltd. (Japan), H.R. Polycoats Pvt. Ltd. (India), Adriano Di Marti (Mexico), Broke Mate (India) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.
In October 2021, Roots has declared the inauguration of new limited-edition leather jackets and handbags in partnership with Revolutionnaire. These products give emphasis to inclusivity and social justice, targeting to appeal to a larger audience.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 6.7% over 2023 to 2030
Unit Value (USD Billion)
By Source Full Grain Leather
Synthetic Leather
By Product Apparel
Luggage
Footwear
Others
By End-user Men
Women
Kids
By REGION North America (By Source, Product, End-user, and Country)
U.S. (By Source)
Canada (By Source)
Mexico (By Source)
Europe (By Source, Product, End-user, and Country)
Germany (By Source)
U.K. (By Source)
France (By Source)
Italy (By Source)
Spain (By Source)
Rest of Europe (By Source)
Asia Pacific (By Source, Product, End-user, and Country)
China (By Source)
India (By Source)
Japan (By Source)
Australia (By Source)
Rest of Asia Pacific (By Source)
South America (By Source, Product, End-user, and Country)
Brazil (By Source)
Argentina (By Source)
Rest of South America (By Source)
Middle East and Africa (By Source, Product, End-user, and Country)
South Africa (By Source)
UAE (By Source)
Rest of Middle East & Africa (By Source)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Overview of the Parent/Related Markets
- 4.2. Regulatory Landscape
- 4.3. Industry SWOT Analysis
- 4.4. Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- 4.5. Impact of COVID on Supply Chain of the Leather Goods Market
- 4.5.1. Impact of COVID-19
- 4.5.2. Supply Chain Challenges
- 4.5.3. Potential Opportunities due to COVID-19
- 5. Global Leather Goods Market Analysis, Insights and Forecast, 2019 – 2030
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Source
- 5.2.1.1. Full Grain Leather
- 5.2.1.2. Synthetic Leather
- 5.2.2. By Product
- 5.2.2.1. Apparel
- 5.2.2.2. Luggage
- 5.2.2.3. Footwear
- 5.2.2.4. Others
- 5.2.3. By End User
- 5.2.3.1. Men
- 5.2.3.2. Women
- 5.2.3.3. Kids
- 5.2.4. By Region
- 5.2.4.1. North America
- 5.2.4.2. Europe
- 5.2.4.3. Asia Pacific
- 5.2.4.4. South America
- 5.2.4.5. Middle East & Africa
- 6. North America Leather Goods Market Analysis, Insights and Forecast, 2019 – 2030
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Source (Value)
- 6.2.1.1. Full Grain Leather
- 6.2.1.2. Synthetic Leather
- 6.2.2. By Product (Value)
- 6.2.2.1. Apparel
- 6.2.2.2. Luggage
- 6.2.2.3. Footwear
- 6.2.2.4. Others
- 6.2.3. By End User (Value)
- 6.2.3.1. Men
- 6.2.3.2. Women
- 6.2.3.3. Kids
- 6.2.4. By Country (Value)
- 6.2.4.1. U.S
- 6.2.4.1.1. By Source (Value)
- 6.2.4.1.1.1. Full Grain Leather
- 6.2.4.1.1.2. Synthetic Leather
- 6.2.4.2. Canada
- 6.2.4.2.1. By Source (Value)
- 6.2.4.2.1.1. Full Grain Leather
- 6.2.4.2.1.2. Synthetic Leather
- 6.2.4.3. Mexico
- 6.2.4.3.1. By Source (Value)
- 6.2.4.3.1.1. Full Grain Leather
- 6.2.4.3.1.2. Synthetic Leather
- 7. Europe Leather Goods Market Analysis, Insights and Forecast, 2019 – 2030
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Source (Value)
- 7.2.1.1. Full Grain Leather
- 7.2.1.2. Synthetic Leather
- 7.2.2. By Product (Value)
- 7.2.2.1. Apparel
- 7.2.2.2. Luggage
- 7.2.2.3. Footwear
- 7.2.2.4. Others
- 7.2.3. By End User (Value)
- 7.2.3.1. Men
- 7.2.3.2. Women
- 7.2.3.3. Kids
- 7.2.4. By Country (Value)
- 7.2.4.1. U.K.
- 7.2.4.1.1. By Source (Value)
- 7.2.4.1.1.1. Full Grain Leather
- 7.2.4.1.1.2. Synthetic Leather
- 7.2.4.2. France
- 7.2.4.2.1. By Source (Value)
- 7.2.4.2.1.1. Full Grain Leather
- 7.2.4.2.1.2. Synthetic Leather
- 7.2.4.3. Germany
- 7.2.4.3.1. By Source (Value)
- 7.2.4.3.1.1. Full Grain Leather
- 7.2.4.4. Italy
- 7.2.4.4.1. By Source (Value)
- 7.2.4.4.1.1. Full Grain Leather
- 7.2.4.4.1.2. Synthetic Leather
- 7.2.4.5. Spain
- 7.2.4.5.1. By Source (Value)
- 7.2.4.5.1.1. Full Grain Leather
- 7.2.4.5.1.2. Synthetic Leather
- 7.2.4.6. Rest of Europe
- 7.2.4.6.1. By Source (Value)
- 7.2.4.6.1.1. Full Grain Leather
- 7.2.4.6.1.2. Synthetic Leather
- 8. Asia Pacific Leather Goods Market Analysis, Insights and Forecast, 2019 – 2030
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Source (Value)
- 8.2.1.1. Full Grain Leather
- 8.2.1.2. Synthetic Leather
- 8.2.2. By Product (Value)
- 8.2.2.1. Apparel
- 8.2.2.2. Luggage
- 8.2.2.3. Footwear
- 8.2.2.4. Others
- 8.2.3. By End User (Value)
- 8.2.3.1. Men
- 8.2.3.2. Women
- 8.2.3.3. Kids
- 8.2.4. By Country (Value)
- 8.2.4.1. China
- 8.2.4.1.1. By Source (Value)
- 8.2.4.1.1.1. Full Grain Leather
- 8.2.4.1.1.2. Synthetic Leather
- 8.2.4.2. Japan
- 8.2.4.2.1. By Source (Value)
- 8.2.4.2.1.1. Full Grain Leather
- 8.2.4.2.1.2. Synthetic Leather
- 8.2.4.3. India
- 8.2.4.3.1. By Source (Value)
- 8.2.4.3.1.1. Full Grain Leather
- 8.2.4.3.1.2. Synthetic Leather
- 8.2.4.4. Australia
- 8.2.4.4.1.
- 8.2.4.4.1.1. Full Grain Leather
- 8.2.4.4.1.2. Synthetic Leather
- 8.2.4.5. Rest of Asia Pacific
- 8.2.4.5.1. By Source (Value)
- 8.2.4.5.1.1. Full Grain Leather
- 8.2.4.5.1.2. Synthetic Leather
- 9. South America Leather Goods Market Analysis, Insights and Forecast, 2019 – 2030
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Source (Value)
- 9.2.1.1. Full Grain Leather
- 9.2.1.2. Synthetic Leather
- 9.2.2. By Product (Value)
- 9.2.2.1. Apparel
- 9.2.2.2. Luggage
- 9.2.2.3. Footwear
- 9.2.2.4. Others
- 9.2.3. By End User (Value)
- 9.2.3.1. Men
- 9.2.3.2. Women
- 9.2.3.3. Kids
- 9.2.4. By Country (Value)
- 9.2.4.1. Brazil
- 9.2.4.1.1. By Source (Value)
- 9.2.4.1.1.1. Full Grain Leather
- 9.2.4.1.1.2. Synthetic Leather
- 9.2.4.2. Argentina
- 9.2.4.2.1. By Source (Value)
- 9.2.4.2.1.1. Full Grain Leather
- 9.2.4.2.1.2. Synthetic Leather
- 9.2.4.3. Rest of South America
- 9.2.4.3.1. By Source (Value)
- 9.2.4.3.1.1. Full Grain Leather
- 9.2.4.3.1.2. Synthetic Leather
- 10. Middle East & Africa Leather Goods Market Analysis, Insights and Forecast, 2019 – 2030
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Source (Value)
- 10.2.1.1. Full Grain Leather
- 10.2.1.2. Synthetic Leather
- 10.2.2. By Product (Value)
- 10.2.2.1. Apparel
- 10.2.2.2. Luggage
- 10.2.2.3. Footwear
- 10.2.2.4. Others
- 10.2.3. By End User (Value)
- 10.2.3.1. Men
- 10.2.3.2. Women
- 10.2.3.3. Kids
- 10.2.4. By Country (Value)
- 10.2.4.1. South Africa
- 10.2.4.1.1. By Source (Value)
- 10.2.4.1.1.1. Full Grain Leather
- 10.2.4.1.1.2. Synthetic Leather
- 10.2.4.2. UAE
- 10.2.4.2.1. By Source (Value)
- 10.2.4.2.1.1. Full Grain Leather
- 10.2.4.2.1.2. Synthetic Leather
- 10.2.4.3. Rest of Middle East & Africa
- 10.2.4.3.1. By Source (Value)
- 10.2.4.3.1.1. Full Grain Leather
- 10.2.4.3.1.2. Synthetic Leather
- 11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Leather Goods Market Revenue Share/Ranking Analysis, By Key Manufacturer
- 12. Company Profiles
- 12.1. Hermes International
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. LVMH Moët Hennessy Louis Vuitton
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. Kering
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Prada
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. Capri Holdings
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. Vf Corporation
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. Kuraray Co., Ltd.
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. H.R. Polycoats Pvt. Ltd
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. Adriano Di Marti
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. Broke Mate
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
- 13. Strategic Recommendations
- 14. Appendix
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