Global Leather Goods Market Size To Worth USD 457.30 Billion by 2033 | CAGR of 6.36%
Category: Consumer GoodsGlobal Leather Goods Market Size To Worth USD 457.30 Billion by 2033
According to a research report published by Spherical Insights & Consulting, the Global Leather Goods Market is to Grow from USD 246.80 Billion in 2023 to USD 457.30 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.36% during the projected period.
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Browse key industry insights spread across 245 pages with 115 Market data tables and figures & charts from the report on the "Global Leather Goods Market Size, Share, and COVID-19 Impact Analysis, By Type (Genuine Leather, Synthetic Leather, and Vegan Leather), By Product (Footwear, Handbags, Apparel, Luggage, and Wallets), By Distribution Channel (Departmental Stores, Supermarkets and Hypermarkets, Online Stores, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/leather-goods-market
Leather goods are a broad category of objects made mostly of leather, a durable and flexible material obtained from animal hide. Superior leather items are typically associated with workmanship and can fetch premium prices on the market. Growing consumer disposable income, improved living conditions, altering fashion trends, and more international and domestic travel are among the primary market factors. The leather products industry is expected to benefit from increased consumer demand for attractive, trendy, and expensive leather clothing, accessories, and footwear. Technological innovations and breakthroughs in leather processing and business are expected to create new opportunities for the leather products sector. However, the unpredictability of product costs can restrict market expansion.
The genuine leather segment accounts for the majority of the market throughout the projection period.
Based on the type, the global leather goods market is divided into genuine leather, synthetic leather, and vegan leather. Among these, the genuine leather segment accounts for the majority of the market throughout the projection period. Customers' increasing need for high-quality, long-lasting, and visually appealing items that equate leather with luxury and prestige is propelling the genuine leather business. Increased financial resources and altering lifestyle tastes, particularly in emerging nations, are propelling this segment's growth. Furthermore, the value of socially and ethically produced leather is increasing, attracting environmentally conscious consumers and contributing to market development.
The footwear sector accounts for the greatest market share over the forecast period.
Based on the product, the global leather goods market is divided into footwear, handbags, apparel, luggage, and wallets. Among these, the footwear sector accounts for the greatest market share over the forecast period. The footwear business is under pressure from rising consumer demand for high-quality, trendy, and distinctive items that represent status and personal taste. One key factor is rich consumers' increased discretionary money, which allows them to invest in luxury goods recognized for their workmanship and design excellence. Furthermore, social media and celebrity endorsements have a significant influence on influential consumer attitudes and rising demand for leather footwear.
Supermarkets and hypermarkets dominate the market over the predicted period.
Based on the distribution channel, the global leather goods market is divided into departmental stores, supermarkets and hypermarkets, online stores, and others. Among these, supermarkets and hypermarkets dominate the market over the predicted period. The supermarket and hypermarket business is being propelled by a higher inclusion of quality and leather items in their offers. As these merchants expand their product offers to include high-end items, they attract a broader range of clients, including those seeking one-stop shopping for leather goods.
Europe is having the biggest share of the global leather goods market over the forecast period.
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Europe is the world's largest market stockholder, and it is expected to increase considerably throughout the projected period. This growth might be attributed to a long tradition of leather craftsmanship and a strong demand for high-quality, premium products. Italy, France, and Spain are well-known for producing high-quality leather goods, contributing to Europe's reputation as a luxury leather manufacturing powerhouse. The European market is controlled by a significant demand for eco-friendly and responsibly produced leather products.
Asia-Pacific is predicted to grow fastest pace throughout the forecast period. The Asia-Pacific leather products market is quickly increasing as China, India, and Japan's fashion industries grow. The region's expanding middle class, rapid urbanization, and rising disposable incomes have increased demand for high-end leather goods.
Major vendors in the global leather goods market include Samsonite International S.A, VIP Industries Ltd, Timberland LLC, Johnston & Murphy, Woodland Worldwide, Hermès International S.A, Louis Vuitton Malletier, VF Corp, COLLAR Company, LUCRIN Geneva, Nappa Dori, Saddles India Pvt. Ltd, Lear Corp, Adidas AG, Nike, Inc., Puma SE, Fila, Inc., New Balance Athletics, Inc., Knoll, Inc., Samsonite International S.A, and Others.
Recent Developments
- In February 2024, The Ermenegildo Zegna Group announced that it would open a new luxury footwear and leather products manufacturing plant in Sala Baganza (Parma). The new facility is scheduled to be completed by the end of 2026.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global leather goods market based on the below-mentioned segments:
Global Leather Goods Market, By Type
- Genuine Leather
- Synthetic Leather
- Vegan Leather
Global Leather Goods Market, By Product
- Footwear
- Handbags
- Apparel
- Luggage
- Wallets
Global Leather Goods Market, By Distribution Channel
- Departmental Stores
- Supermarkets and Hypermarkets
- Online Stores
- Others
Global Leather Goods Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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