Leather Goods Market Size is projected to reach USD 720.8 Billion by 2030, growing at a CAGR of 6.2%: Straits Research

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The Global Leather Goods Market size was valued at USD 419.5 billion in 2021 and is expected to expand at a CAGR of 6.2% from 2022 to 2030 and reach around USD 720.8 billion. With the highest revenue share, Europe has surpassed Asia as the leading region in the global leather goods market.

New York, United States, Aug. 22, 2022 (GLOBE NEWSWIRE) -- Purses, wallets, and belts, as well as footwear, handbags, and other leather goods, are included in the leather goods segment. The leather luggage and goods market are growing due to factors such as rising disposable income, increased domestic and international travel, and rising living standards. Global market players are constantly releasing new and stylish leather goods to meet changing consumer demand. Furthermore, market players' stylish and compact luggage products provide consumers with convenience and ease while traveling. Consumers are more likely to choose premium and high-quality leather products as their per capita income rises.


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Market Dynamics

Drivers

Fashion Trends are changing.

Globally changing fashion trends have encouraged market players to introduce innovative and trendy products in order to meet consumer demands and maintain a loyal customer base. Furthermore, consumers prefer leather goods and luggage that are both compact and stylish. Men's accessories, such as leather bracelets, necklaces, and gloves, have become popular as fashion trends change. As a result, shifting fashion trends will help the market grow in the coming years.

Domestic and international tourism are both increasing.

The growth of various industries has been aided by an increase in domestic and international tours. People prefer leather luggage bags that are easy to handle. Extensive travel necessitates leather luggage that can withstand rough handling at any time. As a result, for more convenient travel, consumers choose premium and higher-quality leather luggage.


Report Scope

Report Metric

Details

Market Size

USD 720.8 Billion by 2030

CAGR

6.2% (2020-2030)

Historical Data

2019-2020

Base Year

2021

Forecast Period

2022-2030

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Product, Distribution Channel, Region

Geographies Covered

North America, Europe, Asia-Pacific, LAME and Rest of the World

Key Companies Profiled/Vendors

Adidas AG, Nike, Inc., Puma SE, Louis Vuitton SE, Fila, Inc., New Balance Athletics, Inc., Knoll, Inc., Timberland LLC, Johnston and Murphy, Woodland, PRADA Spa, Hermès International SCA

Key Market Opportunities

Development of Fashionable Leather Goods at a Reasonable Cost

Key Market Drivers

Lifestyle Changes Are Occurring Will Drive the Market
Living Standards are Improving

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Restraints

The availability of cheaper leather goods and the shortage of leather goods worldwide.

There are some kinds of leather goods available in the market which have low costs. It will be hampering the supply and demand of good quality leather products and their price as well. However, the worldwide shortage of leather goods is driving up the price. As a result, European buyers are on the lookout for low-cost suppliers who can produce leather from exotic animals like pythons and alligators. These are the factors restraining the growth of the leather goods market.


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Opportunities

Evolution of budget-friendly, stylish and comfortable leather goods.

Handling goods are the most frequently purchased category, followed by belts. Handbags and wallets are still the most popular carrying products, and travel bags are the fastest-growing products in the leather goods market. As we all know, lifestyles are changing all the time, and as consumers' disposable income rises, they are becoming more interested in fashionable goods. Consumers are improving their standard of living by purchasing more fashionable and trendy goods with their disposable income. As a result, consumer preferences like these will provide market participants with an opportunity.

Segmental Insights

The leather goods segments of the market are separated by product type. Travel bags, casual bags, and business bags are divided into the leather segment, while purses, wallets & belts, handbags, footwear, and other products are divided into the leather goods segment. Men and women are divided into two categories in this market. The women's segment dominated the market, while the men's segment grew in popularity due to men's increased interest in leather products such as wallets, handbags, and footwear.


Regional Insights

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa are the four regions that make up the market.

  • The leather goods market in North America is the largest.

  • The leather goods market in Europe is the second-largest in the world.

  • The fastest-growing regional market is the Asia Pacific. Rising demand for premium and luxury goods is driving the Asia Pacific regional market, which is led by China and India.

  • With the highest revenue share, Europe has surpassed Asia as the leading region in the global leather goods market.

  • The product's growing popularity and the region's growing online sales would help the regional market growth.


Key Players

  • Adidas AG

  • Nike, Inc.

  • Puma SE

  • Louis Vuitton SE

  • Fila, Inc.

  • New Balance Athletics, Inc.

  • Knoll, Inc.

  • Timberland LLC

  • Johnston and Murphy

  • Woodland

  • PRADA Spa

  • Hermès International SCA


Market Segmentation

By Product

  • Footwear

  • Luggage

  • Accessories

  • Clothing and Apparel

By Distribution Channel

  • Store-Based Retail

    • Hypermarket and Supermarket

    • Specialty Store

    • Exclusive Store

  • Online Retail


By Region

North America

  • The U.S.

  • Canada

Europe

  • Germany

  • France

  • Italy

  • The U.K.

  • The Rest of Europe

Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Singapore

  • The Rest of APAC

Central and South America and the Caribbean

  • Brazil

  • Argentina

  • The Rest of Central and South America and the Caribbean

The Middle East and Africa

  • Saudi Arabia

  • The UAE

  • Iran

  • Kuwait

  • The Rest of MEA


TABLE OF CONTENT

1          Introduction
1.1       Market Definition
1.2       Market Scope
2          Research Methodology
2.1       Primary Research
2.2       Research Methodology
2.3       Assumptions & Exclusions
2.4       Secondary Data Sources
3          Executive Summary
4          Market Overview
4.1       Report Segmentation & Scope
4.2       Value Chain Analysis: Leather Goods Market
4.2.1   Vendor Matrix
4.3       Key Market Trends
4.3.1   Drivers
4.3.2   Restraints
4.3.3   Opportunities
4.4       Porter’s Five Forces Analysis
4.4.1   Bargaining Power of Suppliers
4.4.2   Bargaining Power of Buyers
4.4.3   Threat of Substitution
4.4.4   Threat of New Entrants
4.4.5   Competitive Rivalry
4.5       Environmental & Regulatory Landscape
4.6       Forecast Factors & Relevance of Impact
4.7       Macro-Economic & Geopolitical Scenario
4.8       Parent Market Overview
4.9       Technology Landscape
4.10    Market Share Analysis
4.11    Potential Venture Analysis
4.12    Regional Price Trends
4.13    Raw Material Trends
4.14    Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
5          Product Overview
5.1       Introduction
5.1.1   Market Size & Forecast (Value & Volume)
5.2       Footwear
5.2.1   Market Size & Forecast (Value & Volume)
5.3       Luggage
5.3.1   Market Size & Forecast (Value & Volume)
5.4       Accessories
5.4.1   Market Size & Forecast (Value & Volume)
5.5       Clothing and Apparel
5.5.1   Market Size & Forecast (Value & Volume)
5.6       Others
5.6.1   Market Size & Forecast (Value & Volume)
6          Distribution Channel Overview
6.1       Introduction
6.1.1   Market Size & Forecast (Value & Volume)
6.2       Store-Based Retail
6.2.1   Market Size & Forecast (Value & Volume)
6.2.2   Hypermarket & Supermarket
6.2.2.1            Market Size & Forecast (Value & Volume)
6.2.3   Specialty Store
6.2.3.1            Market Size & Forecast (Value & Volume)
6.2.4   Exclusive Store
6.2.4.1            Market Size & Forecast (Value & Volume)
6.3       Online Retail
6.3.1   Market Size & Forecast (Value & Volume)
7          Regional Overview
7.1      Introduction
7.1.1   Market Size & Forecast (Value & Volume)
7.2      North America
7.2.1   Economic Overview
7.2.2   Market Scenario
7.2.3   The U.S.
7.2.3.1            By Product
7.2.3.2            By Distribution Channel
7.2.4   Canada
7.2.4.1            By Product
7.2.4.2            By Distribution Channel
7.2.5   Mexico
7.2.5.1            By Product
7.2.5.2            By Distribution Channel
7.3      Central and South America and the Caribbean
7.3.1   Economic Overview
7.3.2   Market Scenario
7.3.3   Brazil
7.3.3.1            By Product
7.3.3.2            By Distribution Channel
7.3.4   Argentina
7.3.4.1            By Product
7.3.4.2            By Distribution Channel
7.3.5   Columbia
7.3.5.1            By Product
7.3.5.2            By Distribution Channel
7.3.6   The Rest of Central and South America and the Caribbean
7.3.6.1            By Product
7.3.6.2            By Distribution Channel
7.4      Europe
7.4.1   Economic Overview
7.4.2   Market Scenario
7.4.3   Germany
7.4.3.1            By Product
7.4.3.2            By Distribution Channel
7.4.4   France
7.4.4.1            By Product
7.4.4.2            By Distribution Channel
7.4.5   The U.K.
7.4.5.1            By Product
7.4.5.2            By Distribution Channel
7.4.6   Italy
7.4.6.1            By Product
7.4.6.2            By Distribution Channel
7.4.7   The Rest of Europe
7.4.7.1            By Product
7.4.7.2            By Distribution Channel
7.5      Asia-Pacific (APAC)
7.5.1   Economic Overview
7.5.2   Market Scenario
7.5.3   China
7.5.3.1            By Product
7.5.3.2            By Distribution Channel
7.5.4   Japan
7.5.4.1            By Product
7.5.4.2            By Distribution Channel
7.5.5   India
7.5.5.1            By Product
7.5.5.2            By Distribution Channel
7.5.6   Australia
7.5.6.1            By Product
7.5.6.2            By Distribution Channel
7.5.7   South Korea
7.5.7.1            By Product
7.5.7.2            By Distribution Channel
7.5.8   Rest of APAC
7.5.8.1            By Product
7.5.8.2            By Distribution Channel
7.6      The Middle East
7.6.1   Economic Overview
7.6.2   Market Scenario
7.6.3   Saudi Arabia
7.6.3.1            By Product
7.6.3.2            By Distribution Channel
7.6.4   The UAE
7.6.4.1            By Product
7.6.4.2            By Distribution Channel
7.6.5   Qatar
7.6.5.1            By Product
7.6.5.2            By Distribution Channel
7.6.6   Oman
7.6.6.1            By Product
7.6.6.2            By Distribution Channel
7.6.7   Turkey
7.6.7.1            By Product
7.6.7.2            By Distribution Channel
7.6.8   The Rest of MEA
7.6.8.1            By Product
7.6.8.2            By Distribution Channel
7.7      Africa
7.7.1   Economic Overview
7.7.2   Market Scenario
7.7.3   Nigeria
7.7.3.1            By Product
7.7.3.2            By Distribution Channel
7.7.4   South Africa
7.7.4.1            By Product
7.7.4.2            By Distribution Channel
7.7.5   The Rest of Africa
7.7.5.1            By Product
7.7.5.2            By Distribution Channel
8          Competitive Landscape — Manufacturers & Suppliers
8.1      Competition Dashboard
8.2      Industry Structure
8.3      Adidas AG
8.3.1   Business Overview
8.3.2   Financial Performance
8.3.3   Recent Developments
8.3.4   Product Portfolio
8.4      Nike, Inc.
8.4.1   Business Overview
8.4.2   Financial Performance
8.4.3   Recent Developments
8.4.4   Product Portfolio
8.5      Puma SE
8.5.1   Business Overview
8.5.2   Financial Performance
8.5.3   Recent Developments
8.5.4   Product Portfolio
8.6      Louis Vuitton SE
8.6.1   Business Overview
8.6.2   Financial Performance
8.6.3   Recent Developments
8.6.4   Product Portfolio
8.7      Fila, Inc.
8.7.1   Business Overview
8.7.2   Financial Performance
8.7.3   Recent Developments
8.7.4   Product Portfolio
8.8      New Balance Athletics, Inc.
8.8.1   Business Overview
8.8.2   Financial Performance
8.8.3   Recent Developments
8.8.4   Product Portfolio
8.9      Knoll, Inc.
8.9.1   Business Overview
8.9.2   Financial Performance
8.9.3   Recent Developments
8.9.4   Product Portfolio
8.10    Timberland LLC
8.10.1 Business Overview
8.10.2 Financial Performance
8.10.3 Recent Developments
8.10.4 Product Portfolio
8.11    Johnston & Murphy
8.11.1 Business Overview
8.11.2 Financial Performance
8.11.3 Recent Developments
8.11.4 Product Portfolio
8.12    Woodland
8.12.1 Business Overview
8.12.2 Financial Performance
8.12.3 Recent Developments
8.12.4 Product Portfolio
8.13    PRADA Spa
8.13.1 Business Overview
8.13.2 Financial Performance
8.13.3 Recent Developments
8.13.4 Product Portfolio
8.14    Hermes International SCA
8.14.1 Business Overview
8.14.2 Financial Performance
8.14.3 Recent Developments
8.14.4 Product Portfolio
9          Conclusion & Recommendation
10        Acronyms & Abbreviations


Table of Content and Figure https://straitsresearch.com/report/leather-goods-market/toc


Recent Developments

18-MAY-2022 adidas and Pharrell Williams Launch New Core Black Colorway.

12 April-2022 FILA and USTA Foundation Collaborate to Launch “Spirit of Tennis Scholarships”

05April-2022 Barneys New York and FILA Debut Limited-Edition Footwear Collection


News Media

Rising Awareness Regarding Leather Goods and Surging Spending Power Drives the Leather Goods Market

Global Leather Goods Market to Grow at a Healthy CAGR During Estimated Period


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