About Leather Goods
The leather is created by processing animal skins, majorly these are fine leathers which are more durable as well as flexible. Its durability and flexibility lead to increase leather application in manufacturing a variety of leather goods including apparels, footwear, automobile seats, furniture, decorative goods, and many others. Also, with the growing adoption of fashionable wear as well as leather apparels and many other gadgets, global leather goods market will show significant demand over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Due to Increasing Raw Material Cost and Stringent Regulations, Leather Manufacturing is at the maturity stage of the product life cycle. Thus, a number of manufacturers are going with invest and divest strategies. Moreover, the remaining leather good producers are looking for technological innovations and minimizing undesirable environmental effects.The Vendors having a strong hold in the market are LVMH, Richemont Group, Kering, Belle, Coach. Analyst at AMA Research estimates that European Vendors will contribute the maximum growth to Global Leather Goods market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
LVMH (France), Richemont Group (Switzerland), Kering (France), Belle (United States), Coach (United States), Hermes (France), Burberry (United Kingdom), Prada Group (Italy), Fossil Group (United States) and Hugo Boss (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Ferragamo (Italy), DAPHNY RAESM (Netherlands), Natuzzi (Italy), AoKang (China), C. banner (China), Ekornes (Norway) and Saturday (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Leather Goods market by Type (Cowhide, Buffalo Hide, Sheep and Goat Skin, Deer Skin, Hog Skin, Crocodile, Synthetic leather and Others), Application (Gloves, Footwear, Clothing, Vehicle upholstery, Furniture upholstery and Luggage and other Leather Goods) and Region.
On the basis of geography, the market of Leather Goods has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. E-Commerce will boost the Leather Goods market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Upgradations in Leather Goods’ Manufacturing Techniques, Customized Or Personalized Leather Goods according to Changing Consumer Preferences and Adoption of Leather in Luxury Goods
Market Growth Drivers:
High Durability and Flexibility, Increasing Domestic as well as International Trades and Higher Disposable Incomes
Challenges:
Restriction Imposed by Governments Regarding Use of Particular Animal Skins, Increase in Global Carbon Footprint and Low-Profit Margin
Restraints:
Upsurging Cost of Raw Material, Releases Hazardous Chemicals to Water Bodies and Number of Pollutants are released during the Transformation Process
Opportunities:
Introduction to Decorative Leather Goods and Minimize undesirable Environmental Effects
Market Leaders and their expansionary development strategies
In January 2022, Tech-led house of brands, Mensa Brands announced that they have acquired Kolkata based leather goods manufacturer and seller, Estalon.The acquisition marksmarks Mensa Brands’ foray into the growing leather goods segment.
In June 2023, GARRTEN, a renowned luxury leather fashion brand, has unveiled an exquisite collection of functionally chic leather accessories for both men and women. The newly launched range includes four styles of leather backpacks - signature, slim, rolltop, and travel - as well as two styles of leather accessories, namely dopp kits and wallets, available in full grain and saffiano leather. These products are offered in a wide array of captivating colors.
There is no any particular legislation for the leather goods, but this market is affected by variety of measures with respect to environment, use of chemicals, marketing and use of certain dangerous substances in manufacturing leather goods as well as use of animal by-products. and “European standards relating to leather are developed through the technical body CEN TC 289 of the European Committee for Standardization. There are currently 143 standards with relevance to leather products. These standards cover a number of fields. For Instance; one standard provides guidelines for the test methods and recommended values for upholstery leather for furniture and another standard specifies a method using microscopy to identify leather and distinguish it from other materials.”
Key Target Audience
Leather Good Manufacturers, Leather Distributors and Traders, Apparel Companies, Footwear Manufacturers, Other Government and Private Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.