Leather Goods

Global Leather Goods Market to Reach US$368.5 Billion by 2030

The global market for Leather Goods estimated at US$281.9 Billion in the year 2024, is expected to reach US$368.5 Billion by 2030, growing at a CAGR of 4.6% over the analysis period 2024-2030. Footwear, one of the segments analyzed in the report, is expected to record a 5.3% CAGR and reach US$137.5 Billion by the end of the analysis period. Growth in the Luggage segment is estimated at 3.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$73.7 Billion While China is Forecast to Grow at 7.2% CAGR

The Leather Goods market in the U.S. is estimated at US$73.7 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$81.2 Billion by the year 2030 trailing a CAGR of 7.2% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.7% and 3.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.

Global Leather Goods Market - Key Trends & Drivers Summarized

What Constitutes the Leather Goods Market, and What Drives Its Appeal?
The leather goods market encompasses a wide range of products including footwear, apparel, accessories, and furniture, all made from various types of treated animal skins. Leather is prized for its durability, versatility, and aesthetic appeal, making it a staple in fashion and luxury goods sectors. The market`s dynamics are influenced by changing fashion trends, consumer spending behaviors, and the growing importance of sustainability within the industry.

How Are Consumer Preferences Impacting the Leather Goods Industry?
Consumer preferences have a significant impact on the leather goods industry, particularly with the increasing demand for luxury leather items that blend traditional craftsmanship with modern design. The trend towards personalization and customization in leather products is also gaining traction, as consumers seek unique and personalized goods. Additionally, there is a growing awareness and demand for ethically sourced and environmentally sustainable leather products, which is pushing manufacturers to adopt more sustainable practices and transparency in their production processes.

What Challenges Does the Leather Goods Sector Face?
Challenges in the leather goods sector include the ethical concerns related to animal welfare and the environmental impact of traditional leather production. These issues have led to consumer shifts towards alternative materials such as vegan leather. Moreover, global economic fluctuations can impact consumer spending on luxury items, affecting the market`s stability. However, innovations in eco-friendly tanning processes and synthetic leather are creating new opportunities within the market.

Growth in the Leather Goods Market Is Driven by Several Factors
The growth in the leather goods market is driven by several factors, including the resurgence of artisanal and premium leather products in global fashion capitals. Increasing disposable incomes and the expansion of online retail platforms also facilitate wider market reach and consumer access to leather goods. The innovation in sustainable leather production methods and the rising popularity of luxury leather goods among millennials and Generation Z consumers are further boosting the market`s expansion. As the industry continues to evolve, the integration of tradition with innovative and sustainable practices is likely to propel the leather goods market forward, catering to both traditional and contemporary consumer preferences.

SCOPE OF STUDY:

The report analyzes the Leather Goods market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Segment (Footwear, Luggage, Bags, Wallets & Purses, Other Segments)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 275 Featured) -

• Adidas AG
• Hermes International SA
• Kering SA
• LVMH Moet Hennessy - Louis Vuitton
• Nike, Inc.
• VF Corporation

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.