Global Leather Goods Market to grow at a CAGR of 4.51% during the period 2017 - 2021; Finds New Report

Report forecast the global leather goods market to grow at a CAGR of 4.51% during the period 2017-2021.

The leather goods are products that are made from animal hide through the process of tanning or any other similar process. Leather goods include bags, outwear, footwear, belt, apparel, wallets, and many more. The global leather goods market encompasses all goods that are made from leather hide and promoted by marketers. The market includes prominent geographies such as Americas, Europe, APAC, and MEA. The market is segregated into four different product categories that include footwear; bags, wallets, and purses; luggage; and accessories. Some of the leading countries in the global leather goods market are the US, China, Japan, and Germany.

The report covers the present scenario and the growth prospects of the global leather goods market for 2017-2021. To calculate the market size, the report considers the sales value of the products.

The market is divided into the following segments based on geography:

• Americas
• APAC
• Europe
• MEA

According to the report, one of the major drivers for this market is Premiumization of leather goods. The demand for leather products with high aesthetic appeal is on the rise because leather-made products, unlike products made of other synthetic fabric, carry a premium impression about them. They are also highly durable and reliable, thereby offering value for the money invested in them. The innovation and variations in designs and the use of exotic leather have helped manufacturers cater to the demand and aspirations of the high-end and premium customers.

Further, the report states that one of the major factors hindering the growth of this market is Rise in cost of raw materials. The global leather goods market is witnessing a rise in the cost of animal skin since 2014, which continues to make waves in the industry due to the demand-supply gap. The steady and continuous rise in demand is the key factor that drives the cost of raw materials. The high manufacturing costs of leather goods also adversely affect the profit margins of the manufacturers. In the US, the price of American Texas Sheer, claimed to be the most popular leather hide, saw a price jump of more than 16% between 2012 and 2013; whereas in 2014 it underwent a price jump of about 9.6%. This is due to a number of factors such as trade barriers, instability in currencies, and less repository of raw leathers, which affect the demand and supply parameters of supply chain.

Global Leather Goods Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

• Adidas Group
• Burberry
• CHANEL
• COACH
• DOLCE&GABBANA
• Gianni Versace
• Giorgio Armani
• Hermès
• Kering
• LVMH
• Prada
• Ralph Lauren
• Richemont
• VF Corporation

Other prominent vendors

• BATA BRANDS
• DAPAI(CHINA)
• GOLDKRONE
• Nike
• Samsonite IP Holdings
• Vera Bradley Sales

Market driver

• Premiumization of leather goods
• For a full, detailed list, view our report

Market challenge

• Rise in cost of raw materials
• For a full, detailed list, view our report

Market trend

• Personalization and customization of leather goods
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2021 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?

Spanning over 109 pages “Global Leather Goods Market 2017 - 2021” report covers Executive summary, Introduction, Scope of the report, Research Methodology, Market landscape, Market Segmentation By Distribution Channel, Market Segmentation By Product, Regional Landscape, Decision Framework, Drivers And Challenges, Market Trends, Vendor Landscape, Key Vendor Analysis, Appendix.

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For related reports please visit: Leather Good Market Research Reports

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