Leather goods include accessories like briefcases, suitcases, jackets, footwear, etc. In the leather goods segment, the handbags segment is expected to have a major growth because of increasing working women and increasing purchasing power of consumers.
The global leather goods market was USD 93.2 billion in 2016 and will reach USD 121.16 billion by 2022 at a CAGR of 4.47% during the forecasted period. Retail stores hold the major share in this market that is over 90%, however, the online sales will increase during the period due to the growing popularity of ecommerce.
Geography Wise Market Growth:
The Asia Pacific in the last few years has generated the highest revenue in the world for leather goods. The developing countries of Asia-Pacific and LAMEA, such as India, China and Dubai will continue to grow in demand in the near future as well due to the rising disposable income and rising inclination towards designer leather bags and accessories.
North America also holds one of the biggest markets for this industry. China, Taiwan. Korea, Mexico and the European countries have been some of the biggest importers of leather products during the previous decade.
Drivers and Constraints:
Important drivers for this industry are increasing domestic and international travel, global economic power and higher disposable income of consumers. Customers are now more aware and wish for designer leather products which is pushing this industry.
The input costs for leather products have increased, hence due to the large price of raw materials the profit margin for the companies has reduced. The prices in this market can be high, especially for the luxury leather products, which does not target on a huge consumer base, which can sometimes cause a hindrance in this market.
Industry Structure and Updates:
Due to high competition in this industry, companies have come up with new strategies like expansion and acquisition, which enables them to increase market presence and expand their customer base.
1. Research Methodology
2. Executive Summary
3. Market Overview
- Industry Value Chain Analysis
- Porter's 5 Forces
4. Market Dynamics
5. Global Leather Goods market Segmentation, Forecasts and Trends - By Revenue
6. By Mode of Sale
7. By Product
8. By Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
9. Vendor Market Share Analysis
10. Company Profiles
- Giorgio Armani
- Gianni Versace
- VF Corporation
- Dolce & Gabbana
- Ralph Lauren
- Moët Hennessy Louis Vuitton (LVMH)
- Valentino Fashion Group
11. Industry Structure
- Industry M&As, Consolidations
- Investment Opportunities
12. Global Leather Goods market - Road Ahead