Leather Goods Market: Major Growth Trend and Driver
Advances in manufacturing technology is a trend in the market. Leather tanning involves the use of a huge amount of water, which leads to its scarcity. Additional investments are needed for the treatment of wastes to meet the required standard on the volume of discharge. To address this issue, BASF developed DryFast to impart efficiency while being ecologically safe. This process helps reduce water consumption by nearly 60% and produces clean effluents by minimizing sludge by around 50%. Such advancements in manufacturing technology are expected to reduce the manufacturing cost, which will make leather goods eco-friendly, affordable, and innovative.
Innovative marketing strategies are driving the growth of the market. The increasing number of fashion-conscious customers, especially in developing regions, has led to rapid advances in the fashion industry. Vendors such as LVMH, Hermes, and CHANEL SAS advertise their products through newspapers and fashion magazines. Manufacturers of leather goods are adopting different marketing campaigns and strategies to expand their customer base. Vendors are using celebrity endorsement as a marketing tool to enhance their brand image and increase the sales of luxury leather goods. Online advertising is also a popular marketing strategy. These marketing initiatives increase the demand for leather goods.
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Leather Goods Market: Market Segmentation
By geography, APAC will account for 40% of the market's growth during the forecast period. This growth is attributed to factors such as economic growth, expanding middle-class population, and the high number of vendors that operate in the region. Moreover, market growth in this region will be faster than the growth of the market in all other regions. China and Japan are the key countries for the leather goods market in APAC.
By product, the footwear segment will contribute the highest market share growth during the forecast period. Vendors are introducing new patterns and designs owing to market competition and evolving customer demands. Thus, the customization of leather footwear is expected to drive the growth of this segment during the forecast period.
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions.
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Leather Goods Market: Key Vendor Offerings
- adidas AG - The company offers leather shoes.
- Capri Holdings Ltd. - The company offers leather handbags, shoes, bags, and small leather goods under its brands, Michael Kors, Jimmy Choo, and Versace.
- Compagnie Financière Richemont SA - The company offers leather handbags, clutches, and small leather goods.
- Hermès International - The company offers leather bags, clutches, briefcases, luggage, and small leather goods.
- Kering SA - The company offers leather shoes, handbags, and small leather goods through its brands such as Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, and Brioni.
Reasons to Buy Leather Goods Market Report:
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist leather goods market growth during the next five years
- Estimation of the leather goods market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the leather goods market across APAC, North America, Europe, South America, MEA, APAC, North America, Europe, South America, and MEA
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of leather goods market vendors
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Leather Goods Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.1% |
Market growth 2020-2024 |
USD 55.31 billion |
Market structure |
Concentrated |
YoY growth (%) |
-7.46 |
Regional analysis |
APAC, North America, Europe, South America, and MEA |
Performing market contribution |
APAC at 40% |
Key consumer countries |
US, China, Japan, France, and UK |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
adidas AG, Capri Holdings Ltd., Compagnie Financière Richemont SA, Hermès International, Kering SA, LVMH Moet Hennessy - Louis Vuitton, Nike Inc., PRADA Group, Tapestry Inc., and VF Corp. |
Market Dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis: Apparel, accessories, and luxury goods market
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.4 Market outlook: Forecast for 2019 - 2024
- Exhibit 06: Global - Market size and forecast 2019 - 2024 ($ billion)
- Exhibit 07: Global leather goods market 2019-2024 ($ billion), exclusive of COVID-19 impact
- Exhibit 08: Global market: Year-over-year growth 2019 - 2024 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 09: Five forces analysis 2019 & 2024
- 4.2 Bargaining power of buyers
- Exhibit 10: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 11: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 12: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 13: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 14: Threat of rivalry
- 4.7 Market condition
- Exhibit 15: Market condition - Five forces 2019
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 16: Product - Market share 2019-2024 (%)
- 5.2 Comparison by Product
- Exhibit 17: Comparison by Product
- 5.3 Footwear - Market size and forecast 2019-2024
- Exhibit 18: Footwear - Market size and forecast 2019-2024 ($ billion)
- Exhibit 19: Footwear segment of global leather goods market ($ billion), exclusive of COVID-19 impact
- Exhibit 20: Footwear - Year-over-year growth 2019-2024 (%)
- 5.4 LBWP - Market size and forecast 2019-2024
- Exhibit 21: LBWP - Market size and forecast 2019-2024 ($ billion)
- Exhibit 22: LBWP segment of global leather goods market ($ billion), exclusive of COVID-19 impact
- Exhibit 23: LBWP - Year-over-year growth 2019-2024 (%)
- 5.5 Others - Market size and forecast 2019-2024
- Exhibit 24: Others - Market size and forecast 2019-2024 ($ billion)
- Exhibit 25: Others segment of global leather goods market ($ billion), exclusive of COVID-19 impact
- Exhibit 26: Others - Year-over-year growth 2019-2024 (%)
- 5.6 Market opportunity by Product
- Exhibit 27: Market opportunity by Product
6 Market Segmentation by Distribution channel
- 6.1 Market segments
- Exhibit 28: Distribution channel - Market share 2019-2024 (%)
- 6.2 Comparison by Distribution channel
- Exhibit 29: Comparison by Distribution channel
- 6.3 Offline - Market size and forecast 2019-2024
- Exhibit 30: Offline - Market size and forecast 2019-2024 ($ billion)
- Exhibit 31: Offline segment of global leather goods market ($ billion), exclusive of COVID-19 impact
- Exhibit 32: Offline - Year-over-year growth 2019-2024 (%)
- 6.4 Online - Market size and forecast 2019-2024
- Exhibit 33: Online - Market size and forecast 2019-2024 ($ billion)
- Exhibit 34: Online segment of global leather goods market ($ billion), exclusive of COVID-19 impact
- Exhibit 35: Online - Year-over-year growth 2019-2024 (%)
- 6.5 Market opportunity by Distribution channel
- Exhibit 36: Market opportunity by Distribution channel
7 Customer landscape
8 Geographic Landscape
- 8.1 Geographic segmentation
- Exhibit 38: Market share by geography 2019-2024 (%)
- 8.2 Geographic comparison
- Exhibit 39: Geographic comparison
- 8.3 APAC - Market size and forecast 2019-2024
- Exhibit 40: APAC - Market size and forecast 2019-2024 ($ billion)
- Exhibit 41: Leather goods market in APAC 2019-2024 ($ billion), exclusive of COVID-19 impact
- Exhibit 42: APAC - Year-over-year growth 2019-2024 (%)
- 8.4 North America - Market size and forecast 2019-2024
- Exhibit 43: North America - Market size and forecast 2019-2024 ($ billion)
- Exhibit 44: Leather goods market in North America 2019-2024 ($ billion), exclusive of COVID-19 impact
- Exhibit 45: North America - Year-over-year growth 2019-2024 (%)
- 8.5 Europe - Market size and forecast 2019-2024
- Exhibit 46: Europe - Market size and forecast 2019-2024 ($ billion)
- Exhibit 47: Leather goods market in Europe 2019-2024 ($ billion), exclusive of COVID-19 impact
- Exhibit 48: Europe - Year-over-year growth 2019-2024 (%)
- 8.6 South America - Market size and forecast 2019-2024
- Exhibit 49: South America - Market size and forecast 2019-2024 ($ billion)
- Exhibit 50: Leather goods market in South America 2019-2024 ($ billion), exclusive of COVID-19 impact
- Exhibit 51: South America - Year-over-year growth 2019-2024 (%)
- 8.7 MEA - Market size and forecast 2019-2024
- Exhibit 52: MEA - Market size and forecast 2019-2024 ($ billion)
- Exhibit 53: Leather goods market in MEA 2019-2024 ($ billion), exclusive of COVID-19 impact
- Exhibit 54: MEA - Year-over-year growth 2019-2024 (%)
- 8.8 Key leading countries
- Exhibit 55: Key leading countries
- 8.9 Market opportunity by geography
- Exhibit 56: Market opportunity by geography
9 Drivers, Challenges, and Trends
10 Vendor Landscape
- 10.1 Vendor landscape
- Exhibit 58: Vendor landscape
- 10.2 Landscape disruption
- Exhibit 59: Landscape disruption
- Exhibit 60: Industry risks
- 10.3 Competitive Scenario
11 Vendor Analysis
- 11.1 Vendors covered
- Exhibit 61: Vendors covered
- 11.2 Market positioning of vendors
- Exhibit 62: Market positioning of vendors
- 11.3 adidas AG
- Exhibit 63: adidas AG - Overview
- Exhibit 64: adidas AG - Business segments
- Exhibit 65: adidas AG - Key news
- Exhibit 66: adidas AG - Key offerings
- Exhibit 67: adidas AG - Segment focus
- 11.4 Capri Holdings Ltd.
- Exhibit 68: Capri Holdings Ltd. - Overview
- Exhibit 69: Capri Holdings Ltd. - Business segments
- Exhibit 70: Capri Holdings Ltd. - Key offerings
- Exhibit 71: Capri Holdings Ltd. - Segment focus
- 11.5 Compagnie Financière Richemont SA
- Exhibit 72: Compagnie Financière Richemont SA - Overview
- Exhibit 73: Compagnie Financière Richemont SA - Business segments
- Exhibit 74: Compagnie Financière Richemont SA - Key news
- Exhibit 75: Compagnie Financière Richemont SA - Key offerings
- Exhibit 76: Compagnie Financière Richemont SA - Segment focus
- 11.6 Hermès International
- Exhibit 77: Hermès International - Overview
- Exhibit 78: Hermès International - Business segments
- Exhibit 79: Hermès International - Key news
- Exhibit 80: Hermès International - Key offerings
- Exhibit 81: Hermès International - Segment focus
- 11.7 Kering SA
- Exhibit 82: Kering SA - Overview
- Exhibit 83: Kering SA - Business segments
- Exhibit 84: Kering SA - Key news
- Exhibit 85: Kering SA - Key offerings
- Exhibit 86: Kering SA - Segment focus
- 11.8 LVMH Moet Hennessy - Louis Vuitton
- Exhibit 87: LVMH Moet Hennessy - Louis Vuitton - Overview
- Exhibit 88: LVMH Moet Hennessy - Louis Vuitton - Business segments
- Exhibit 89: LVMH Moët Hennessy - Louis Vuitton - Key news
- Exhibit 90: LVMH Moet Hennessy - Louis Vuitton - Key offerings
- Exhibit 91: LVMH Moet Hennessy - Louis Vuitton - Segment focus
- 11.9 Nike Inc.
- Exhibit 92: Nike Inc. - Overview
- Exhibit 93: Nike Inc. - Business segments
- Exhibit 94: Nike Inc. - Key news
- Exhibit 95: Nike Inc. - Key offerings
- Exhibit 96: Nike Inc. - Segment focus
- 11.10 PRADA Group
- Exhibit 97: PRADA Group - Overview
- Exhibit 98: PRADA Group - Business segments
- Exhibit 99: PRADA Group - Key news
- Exhibit 100: PRADA Group - Key offerings
- 11.11 Tapestry Inc.
- Exhibit 101: Tapestry Inc. - Overview
- Exhibit 102: Tapestry Inc. - Business segments
- Exhibit 103: Tapestry Inc. - Key news
- Exhibit 104: Tapestry Inc. - Key offerings
- Exhibit 105: Tapestry Inc. - Segment focus
- 11.12 VF Corp.
- Exhibit 106: VF Corp. - Overview
- Exhibit 107: VF Corp. - Business segments
- Exhibit 108: VF Corp. - Key news
- Exhibit 109: VF Corp. - Key offerings
- Exhibit 110: VF Corp. - Segment focus
12 Appendix
- 12.2 Currency conversion rates for US$
- Exhibit 111: Currency conversion rates for US$
- 12.3 Research methodology
- Exhibit 112: Research Methodology
- Exhibit 113: Validation techniques employed for market sizing
- Exhibit 114: Information sources
- 12.4 List of abbreviations
- Exhibit 115: List of abbreviations
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