This market research report presents a detailed segmentation of the global leather goods industry by product types such as footwear, bags, purses, wallets, and luggage. It provides a market share analysis of its key regions, including the Americas, APAC, Europe, and MEA. Key findings also include an analysis of the leading vendors such as LVMH, Kering, Coach, Prada, and Hermes.
Technavio has released its new market research report, global leather goods industry, which is expected to grow at a CAGR of more than 4% between 2015 and 2019. The rise in export of leather is the primary driver for the growth of this market. For instance, during 2014, the US exported hides, skins and semi-processed leather which generated a revenue of around USD 3 billion. The Americas dominate the global market for leather goods, accounting for 39% of the overall market share. Leather footwear, bags and accessories are some of the top selling products in the region.
“Leather has always remained a style statement for the end-users. Besides its luxury finish, leather adds a lot to the aesthetic appeal and exclusivity of the product. One of the interesting trends that the leather industry is witnessing currently, is the huge demand coming for luxury leather bags. Several luxury brand manufacturers such as LVMH, Hermes are buying out crocodile farms and tanneries to secure supply of exotic and other top-quality leather,” says Brijesh Kumar Chaubey, Lead Analyst, Consumer & Retail, Technavio Research.
The growing demand for organic leather products is expected to contribute to the market growth during the forecast period. Eco leather is organically tanned where the tanning process includes using plant tannins, vegetable tannins and smoke for the process. For instance, Natureally, a UK-based vendor, uses only certified leather from selected British farms. The leather is chrome-free, environmentally friendly and is certified free of harmful substances by the German certification body TUV Rheinland.
The leading vendors in the global leather goods industry include LVMH, Kering, Coach, Prada, and Hermes. The industry is highly fragmented due to the presence of both top vendors and private players operating across the globe. The market is expected to be more competitive during the forecast period as a result of several product launches, price wars, mergers and acquisitions.
A more detailed analysis is available in the Technavio report, Global Leather Goods Industry 2015-2019.
We can customize this reports by other regions and specific segments upon request.
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