Footwear to Dominate the Leather Goods Market During the Forecast Period
Increasing demand for long-lasting leather products, and growing
domestic & international tourism are the leading factors driving the global
leather goods market during the projected period
According to TechSci
Research report, “Leather Goods Market– Global Industry Size, Share,
Trends, Competition, Opportunity, and Forecast, 2018-2028F,” the global leather goods market is expected
to have significant CAGR during the forecast period owing to the increasing demand
for long-lasting, high-quality leather products, the rise in the travel and
tourism industry, increasing demand for leather in clothing production, as well
as the emerging trend of travel vlogging. These factors are driving up sales of
leather goods, particularly customized leather suitcases, trolley bags, and
backpacks. Along with this, the growing popularity of fashion shows promoting
leather products such as handbags, jackets, pants, and shoes is providing
manufacturers with lucrative growth opportunities in this market. Moreover, increasing
spending on home furnishings and renovations is driving market growth.
Leather is a stretchable and
hard material made from the hides and skins of various animals, including
buffaloes, sheep, cattle, goats, hogs, horses, and camels. Because of its
increased strength, durability, and flexibility, it is used to make gloves, bags,
clothes, watches, footwear, saddles, harnesses, and furniture. It is
long-lasting, repairable, comfortable, and dust, fire, scratch, and water-resistant.
As a result, it is widely used in the production of products such as automotive
upholstery, sports equipment, and clothing.
The market has been
observing a rise in the demand for leather footwear on a global level. The
presence of major players such as Nike, Adidas, and others, as well as new
entrants, has increased in the leather athletic footwear market. A diverse
range of designs, sizes, customizations, and so on, as well as growing sneaker
trends, are the factors driving the demand for leather footwear market growth.
Demand for leather
products is being driven by an increase in the number of High-Net-Worth
individuals, as well as the growing trend of designer and designer clothing in
major markets such as the United States, France, and China. Leather goods are
exclusive and more expensive. Because of the growing number of HNWIs in China, the
demand for leather products is increasing rapidly.
Samsonite
International S.A., Louis Vuitton Malletier SAS, Hermès International S.A.,
Tapestry Inc., Delsey S.A., VIP Industries Ltd, Prada S.p.A., American Leather
Operations, LLC, Timberland LLC, Woodland Worldwide, Johnston & Murphy are
among the major market players in the global leather goods market.
Furthermore, the rising popularity of
fashion shows that promote leather goods and attract more people towards
leather goods products is also contributing to the market growth. Also, market
players are launching new products to attract a consumer base. Nike, Inc.
released its first SB Dunk sneakers made of vegan leather in January 2021. The
sneakers are free of animal cruelty and are part of Nike's Zero Waste
Initiative 2019.
Browse over XX market data Figures
spread through XX Pages and an in-depth TOC on the " Global Leather Goods Market."
The global leather goods market is
segmented based on type, product type, end use, and distribution channel. Based
on type, the market is divided into genuine leather and synthetic leather.
Based on product type, the market is divided into travel bags, casual bags,
business bags, purses, wallets & belts, handbags, footwear, clothing, and
others (pet accessories, home decor & furnishing). Based on end use, the
market is further divided into female and male. Based on distribution channel,
the market is fragmented into hypermarkets/supermarkets, multi-branded stores,
exclusive stores, online, others (retail stores and direct, distributors &
dealers etc.). The online channel, which offers retailers an alternative to the
traditional shop by exhibiting numerous products on a single platform with specification
of product,brands, and other features, is experiencing the fastest pace of
increase.
Key market players in the global leather
goods market include:
- Samsonite International S.A.
- Louis Vuitton Malletier SAS
- Hermès International S.A.
- Tapestry Inc.
- Delsey S.A.
- VIP Industries Ltd
- Prada S.p.A.
- American Leather Operations, LLC
- Timberland LLC
- Woodland Worldwide
·
Because
of the coronavirus disease, governments in several countries ordered total
lockdowns (COVID-19). Due to limited spending power, closed stores/outlets of
premium apparel, and widespread lockdown, the COVID-19 outbreak disrupted retail
sales of leather goods products in 2020. Due to the complete lockdown, the
pandemic also disrupted the companies' production and supply chain. For
example, in 2020, all 42 Hermes production factories in France were closed, except
for its perfume factory, which was used for sanitizer production during the
period.
Download Sample Report
Customers can also request 10% free
customization in this report.
"Product manufacturing and
packaging formats is a significant trend that will severely impact growth over
the anticipated timeframe. Leather goods are extremely popular among consumers
due to innate characteristics like durability, crack-proofness, fireproofs, and
dustproofs, which are anticipated to propel the leather products market
forward. Additionally, during the past few years, the market for leather goods
has grown due to rising demand for stylish purses, high-end leather wallets,
and other leather products..” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
Leather
Goods Market– Global Industry Size, Share, Trends, Competition, Opportunity,
and Forecast, 2018-2028F
Segmented
By Type (Genuine Leather and Synthetic Leather), By Product Type (Travel Bags,
Casual Bags, Business Bags, Purses, Wallets & Belts, Handbags, Footwear,
Clothing, and Others (Pet Accessories, Home decor & Furnishing)), By End
Use (Female and Male), By Distribution Channel (Hypermarkets/Supermarkets,
Multi-branded Stores, Exclusive Stores, Online, Others (Retail Stores and
Direct, Distributors & Dealers etc.)), By Region”, has
evaluated the future growth potential of leather global leather goods market and provides statistics and information on market structure, size, share,
and future growth. The report is intended to provide cutting-edge market
intelligence and help decision-makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in leather goods market
globally.
Contact
Mr. Ken Mathews
708 Third
Avenue,
Manhattan, NY,
New York – 10017
Tel:
+1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com/