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Leather Goods Market
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-32.
BROOKLYN, NY, UNITED STATES, September 10, 2024 /EINPresswire / -- Summary:
.The global leather goods
market size reached USD 390.9 Billion in 2023.
.The market is expected to reach USD 598.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.8% during 2024-2032.
.North America leads the market, accounting for the largest leather goods market share.
.Footwear accounts for the majority of the market share in the product segment due to the high demand for durable, stylish, and premium leather products.
.Genuine leather holds the largest share in the leather goods industry.
.Based on the price, the market has been divided into premium and mass products.
.On the basis of the distribution channel, the market has been segregated into clothing and sportswear retailers, departmental stores, supermarkets and hypermarkets, online stores, and others.
.The rise in consumer demand for premium products is a primary driver of the leather goods market.
.Increasing environmental awareness among individuals about sustainable production activities is reshaping the leather goods market.
Industry Trends and Drivers:
.Increasing Consumer Preference for Premium and Durable Products:
The leather goods market is primarily driven by the increasing consumer inclination toward high-quality and durable products. Leather is valued for its robustness, longevity, and aesthetic appeal, making it a preferred material for numerous products such as footwear, bags, and accessories. Consumers are increasingly seeking products that offer functional benefits and a sense of luxury. The durability of genuine leather and its ability to age gracefully, often developing a unique patina over time, make it a desirable choice for those who invest in long-lasting items. This shift toward prioritizing quality over quantity is evident as consumers are willing to pay a premium for products that provide better performance and longevity, propelling demand for leather goods.
.Rising Prominence of Fashion and Luxury Trends:
The influence of fashion and luxury trends significantly impacts the leather goods market. Leather products have long been associated with luxury and high status, which propels their demand in the fashion industry. High-end brands and designers frequently utilize leather to create sophisticated and trendy collections, such as elegant handbags, stylish shoes, and jackets. The appeal of leather is enhanced by its association with exclusivity and high-quality craftsmanship, which continues to attract fashion-conscious consumers. Additionally, the visibility of leather products in fashion shows, celebrity endorsements, and social media further adds to their desirability. The continual evolution of fashion trends and the introduction of new leather products by leading designers contribute significantly to market growth by capturing consumer interest and driving sales.
.Advancements in Manufacturing and Sustainability Practices:
Advancements in manufacturing technologies and sustainability practices contribute significantly to the growth of the leather goods market. Modern innovations in leather production, such as improved tanning processes, automated machinery, and enhanced quality control, have made leather goods more accessible and economically viable. Technological improvements have led to more efficient and consistent production, allowing for higher-quality products at competitive prices. Furthermore, the increasing focus on sustainability and environmental responsibility is a significant growth-inducing factor. Advancements in eco-friendly tanning techniques and the development of sustainable leather alternatives, such as plant-based and recycled materials, address environmental concerns and appeal to the growing segment of environmentally conscious consumers, facilitating overall industry expansion.
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Leather Goods Market Report Segmentation:
By Product:
.Footwear
oMilitary Shoes
oCasual Shoes
oFormal Shoes
oSports Shoes
oOthers
.Leather Products
oUpholstery
oLuggage
oAccessories
oClothing and Apparel
oBags, Wallets and Purses
oOthers
Footwear represents the leading segment due to its widespread appeal and versatile styles.
By Material:
.Genuine Leather
oTop-grain Leather
oSplit-grain Leather
.Synthetic Leather
oPU-Based Leather
oPVC-Based Leather
oBio-Based Leather
Genuine leather accounts for the largest market share owing to its superior quality and durability.
By Price:
.Premium Products
.Mass Products
Based on the price, the market has been divided into premium and mass products.
By Distribution Channel:
.Clothing and Sportswear Retailers
.Departmental Stores
.Supermarkets and Hypermarkets
.Online Stores
.Others
On the basis of the distribution channel, the market has been segmented into clothing and sportswear retailers, departmental stores, supermarkets and
hypermarkets, online stores, and 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
Top Leather Goods Market Leaders:
.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)
The leather goods market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
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.
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