(MENAFN- EIN Presswire) EINPresswire/ -- What Is The Expected Cagr For The Leather And Allied Products Market Through 2025?
The market for leather and related products has seen significant growth in the past few years. Its size is expected to increase from $390.75 billion in 2024 to $418.18 billion in 2025, with a compound annual growth rate (CAGR) of 7.0%. The enhancements in the previous period are a result of higher disposable income and standard of living, a surge in foreign direct investment, robust economic development in emerging markets, and advancements in technology.

Anticipated to witness robust expansion in the next few years is the leather and allied products market, with its size predicted to escalate to $561.81 billion in 2029, representing a compound annual growth rate (CAGR) of 7.7%. This predicted growth in the forthcoming period is attributable to several factors such as the surge in online shopping, the expansion of both domestic and international tourism, the increasing influence of social media, boost in motorcycle sales and the escalating demand for sportswear and performance wear. During the forecast period, key market trends are expected to emerge such as the introduction of new varieties of leather like vegan leather, dritan leather, along with strategic partnerships and investment activities.

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What Are The Key Factors Driving Growth In The Leather And Allied Products Market?
The rise in online shopping popularity is predicted to fuel the expansion of the leather and allied products industry. Manufacturers now have the opportunity to market their goods on a wider platform than they used to, thus extending their geographical consumer base and promoting growth in the leather and allied products sector. In nations like India, for example, e-commerce platforms have surged the sales of these items by providing larger exposure to manufacturers who were previously restricted to a single geographical area.

What Are The Top Players Operating In The Leather And Allied Products Market?
Major players in the Leather And Allied Products include:

. LVMH Moët Hennessy Louis Vuitton
. Kering SA
. Hermès International S.A.
. Nike Inc
. Adidas AG
. VHSP Pty Ltd
. Rimowa Cz Spol. S R. O
. Changge Yixing Leather Co Ltd
. Tapestry, Inc.
. Australia Pty Ltd

What Are The Key Trends Shaping The Leather And Allied Products Industry?
Innovations in wireless technologies have allowed manufacturers of leather goods to incorporate wearable technology into their offerings. Top-tier fashion creators are joining forces with tech companies to create fashionable wearables and high-end products, as this concept is widely accepted in the market. A case in point is Ralph Lauren launching the 'Ricky Smart Bag', crafted from high-quality leather, which lets users power up their phones simply by lifting one of its flaps that turns on an internal light.

Comprehensive Segment-Wise Insights Into The Leather And Allied Products Market
The leather and allied products market covered in this report is segmented –

1) By Type: Leather Footwear, Non-Leather Footwear, Leather Luggage, Hand Bags and Other Goods, Non-Leather Luggage, Hand Bags and Other Goods, Leather Tanning
2) By Leather Type: Full- Grain Leather, Top-Grain Leather, Split Leather, Bonded Leather
3) By Distribution Channel: Online, Offline
4) By Application: Automotive, Furniture, Consumer Goods

Subsegments:
1) By Leather Footwear: Formal Leather Shoes, Casual Leather Shoes, Leather Boots And Sandals
2) By Non-Leather Footwear: Synthetic Shoes, Canvas Shoes, Rubber Footwear
3) By Leather Luggage, Hand Bags, And Other Goods: Leather Bags, Leather Wallets And Accessories, Leather Belts And Straps
4) By Leather Luggage: Suitcases, Travel Bags, Duffel Bags, Garment Bags, Laptop Bags
5) By Hand Bags and Other Goods: Tote Bags, Crossbody Bags, Clutches and Evening Bags, Wallets and Purses, Backpacks
6) By Non-Leather Luggage: Soft-Sided Luggage, Hard-Shell Luggage, Travel Duffel Bags, Wheeled Luggage, Garment Bags
7) By Hand Bags and Other Goods: Canvas Tote Bags, Synthetic Crossbody Bags, Polyester Clutches, Fabric Backpacks, Non-Leather Wallets and Purses
8) By Leather Tanning: Vegetable Tanning, Chrome Tanning, Synthetic Tanning Processes

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Global Leather And Allied Products Market - Regional Insights
In 2024, the Asia-Pacific region led the market for leather and allied products, with Western Europe being the next largest region. The report on this market includes regions like Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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