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on February 26, 2024
The latest report by IMARC Group, titled “Leather Goods Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, The global leather goods market size reached US$ 390.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 598.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.8% during 2024-2032.
Leather goods refer to products made from leather, a durable and flexible material obtained from animal hides. It includes several items that serve functional and aesthetic purposes and is widely recognized for its natural beauty, strength, and longevity, making it a popular choice for various consumer products. Some commonly known leather goods include leather apparel, footwear, accessories, wallets, portfolios, key holders, passport holders, and leather upholstery. In addition, leather apparel, including jackets, coats, pants, and skirts, offer style, comfort, and protection from the elements. Leather accessories, such as belts, gloves, and hats, are also popular choices as they add a touch of refinement to an outfit. Moreover, leather goods include footwear, ranging from classic leather boots and loafers to stylish sandals and sneakers, which are valued for their ability to conform to the shape of the foot, offering unmatched comfort and support to the individuals. Nowadays, these products are easily available in several distribution channels, such as departmental stores, clothing and sportswear retailers, supermarkets, hypermarkets, and online stores across the globe.
Leather Goods Market Trends and Drivers:
The leather goods market is primarily driven by the significant expansion in the e-commerce industry. In addition, the increasing demand for online platforms, as they offer a convenient shopping experience, a wider product selection, and competitive pricing where individuals can easily explore and compare various brands and styles, making it easier to find their desired leather goods, is contributing to the market growth. In line with this, rapid urbanization, the growing population, and the rising disposable income of individuals are influencing market growth. Moreover, the changing consumer lifestyles and fashion trends with the proliferation of social media and fashion influencers represent another major growth-inducing factor. Besides this, the growing environmental awareness among consumers regarding eco-friendly and ethically sourced options led to the production of sustainable leather methods, such as vegetable tanning and the use of recycled or upcycled leather materials, accelerating the market growth. Brands prioritizing sustainability and transparency in their supply chains are gaining traction among environmentally conscious consumers, driving the market toward more sustainable practices. Along with this, the growing trend of customization and personalization among consumers seeking unique and personalized products reflecting their individuality is propelling market growth. Many brands now offer customization options, allowing customers to choose the color and style and even add personal monograms to their leather goods, enhancing customer satisfaction and driving brand loyalty and higher profit margins. Furthermore, luxury brands often incorporate leather into their product lines, associating leather goods with exclusivity, luxury, and status, which creates a positive market outlook.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/leather-goods-market/requestsample
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product:
- Footwear
- Military Shoes
- Casual Shoes
- Formal Shoes
- Sports Shoes
- Others
- Leather Products
- Upholstery
- Luggage
- Accessories
- Clothing and Apparel
- Bags, Wallets and Purses
- Others
Breakup by Material:
- Genuine Leather
- Top-grain Leather
- Split-grain Leather
- Synthetic Leather
- PU-Based Leather
- PVC-Based Leather
- Bio-Based Leather
Breakup by Price:
- Premium Products
- Mass Products
Breakup by Distribution Channel:
- Clothing and Sportswear Retailers
- Departmental Stores
- Supermarkets and Hypermarkets
- Online Stores
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Adidas AG
- American Leather Holdings LLC
- Capri Holdings Limited
- Hermès International S.A.
- Kering S.A.
- LVMH
- Prada S.p.A. (Prada Holding S.P.A)
- Puma SE
- Tapestry Inc.
- VIP Industries (Piramal Group)
- Woodland (Aero Group)
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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Topics:
leather goods market