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Leather Goods Market Size
Leather Goods Market Size
Report Summary
Table of Contents
Segmentation
Methodology
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Industry Insights
The global leather goods market size was valued at USD 414.0 billion in 2017 and is anticipated
to progress at a CAGR of 5.4% from 2018 to 2025. The market growth is mainly driven by
growing disposable income, improved living standards, changing fashion trends, and growing
domestic and international tourism. Rising demand for comfortable, trendy, and fancy footwear
along with growing brand awareness is expected to have a positive impact on the footwear
market.
Growing number of working individuals and resultant rise in the disposable income levels will
also boost the market growth in the years to come. In the footwear segment, sneakers sales have
grown the most due to increasing demand for comfortable and trendy footwear. There is an
intense competition in the sneaker segment as high-end fashion brands, such as Balenciaga,
Gucci, and Prada are entering the market and are up against well-established athletic brands,
such as Nike and Puma.
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E-commerce retail channels play a very important role in the leather goods market. A significant
portion of revenue is generated through this channel and is contributing more each year. Online
sales channels make it easy for consumers to browse through billions of products at once without
having to physically visit retail stores. The trend of online customizations is being driven by
millennials, since such products are unique. In addition, few websites allow customers to add
their own prints on the shoe.
This trend is further expected to fuel the e-commerce retail channels. Moreover, rising usage of
internet in various emerging regions, such as Asia Pacific, will drive the segment growth. All
these factors together will have a positive impact on the demand for leather goods in Asia.
However, the adverse effects associated with the use of Polyvinyl Chloride (PVC) and
Polyurethane (PU) in synthetic leather production is expected to constrain the market growth to
certain extent.
Competitive benchmarking
Market forecasts
Company market shares
Market opportunities
Latest trends & dynamics
All the major companies in the market offer their products online, either through their own
websites or on other online retail stores. Retail stores can be of various types and can be set up in
different locations, such as strip shopping centers, indoor shopping malls, and commercial and
residential areas. Consumers usually prefer shopping from retail stores due to better consumer-
product interaction. This will impel the segment growth over the next few years.
Material Insights
Genuine leather was estimated as the largest material segment in 2017. This segment includes
leather obtained from hides of animals, such as goats, pigs, calves, and cows. However, it has
adverse effects on the environment. For instance, a majority of the leather produced in U.S. is
chrome-tanned. This results in the generation of waste with chromium content and is thus
considered hazardous by the EPA. Thus, various types of footwear products, such as slippers,
casual sneakers, army boots, and sports shoes are usually made using textiles and tropical fibers.
Rising popularity of sports leisure or athleisure trend has resulted in companies introducing
innovative products that suit customer requirements.
The sales of running-inspired and casual athletic sneakers have been on the rise owing to
changing fashion trends. On the other hand, the ongoing trend of clear shoes is expected to fuel
the demand for plastic in shoe manufacturing. Rubber shoes, such as crocs, are also considered to
be trendy and comfortable and are coming back in style, thereby competing with sneakers
category. Following the trend, high-end fashion houses are coming up with designer shoes of
their own. For instance, high-fashion brand Balenciaga released their own version of crocs,
which was priced at USD 850.
Product Insights
On the basis of product, the market has been categorized into footwear, leather goods, and
others. Increasing popularity of casual shoes, such as sneakers, owing to the comfort and support
offered by them will boost the footwear segment. Currently, the demand for casual shoes is huge
as this product category offers a wide range of footwear with a variety of designs and colors to
choose from.
In the leather goods product segment, synthetic leather, bio-based leather, and genuine leather
are widely used in upholstery. This segment has gained significant popularity over the past few
years owing to the changing home décor trends.
Regional Insights
U.S. represents the largest market in North America and is expected to dominate the regional
market over the forecast period. Growing consumer spending in the country is expected to be the
major factor driving the product demand. Rapidly expanding e-commerce sector in the U.S.
fashion market will boost the demand further. The popularity of online shopping is increasing
constantly due to rising number of digital payment options, such as PayPal, Alipay, and Apple
Pay, and ease of payments offered by these platforms. Led by China, Indonesia, India, and
Bangladesh, the Asia Pacific region is expected to register the fastest growth over the forecast
period owing to rising consumer disposable income levels and improving standards of living in
emerging economies. Rapid development of construction and automotive manufacturing
industries is also boosting the product demand in the APAC market.
Report Scope
Attribute Details
Base year for estimation 2017
Actual estimates/Historical data 2014 - 2016
Forecast period 2018 - 2025
Volume in Million Units, Revenue in USD Billion, and
Market representation
CAGR from 2018 to 2025
North America, Europe, Asia Pacific, Central & South
Regional scope
America, and Middle East & Africa
Revenue forecast, volume forecast, competitive
Report coverage
landscape, growth factors and trends
U.S., Canada, Mexico, U.K., Germany, France, Italy,
Country Scope Netherlands, China, India, Japan, Malaysia, Indonesia,
Brazil, and UAE
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Distribution Channel Outlook (Volume, Million Units; Revenue, USD Billion, 2014 -
2025)
o E-Commerce
o Retail Stores
o Supermarkets/Hypermarkets
o Others
Material Outlook (Volume, Million Units; Revenue, USD Billion, 2014 - 2025)
o Footwear
Genuine Leather
Textiles & Tropical Fibers
Rubber & Plastic
Other
o Leather Products
Genuine
Synthetic
Bio-based
Product Outlook (Volume, Million Units; Revenue, USD Billion, 2014 - 2025)
o Footwear
Military Shoes
Casual Shoes
Slippers & Sandals
Sneakers
Others
Formal Shoes
Sports Shoes
Others
o Leather Products
Upholstery
Luggage
Trunks
Suitcases
Others
Accessories
Clothing & Apparel
Bags, Wallets & Purses
Handbags
Coin Purses
Others
Others
Regional Outlook (Volume, Million Units; Revenue, USD Billion, 2014 - 2025)
o North America
U.S.
Canada
Mexico
o Europe
U.K.
Germany
France
Italy
Netherlands
o Asia Pacific
China
India
Japan
Malaysia
Indonesia
o Central & South America
Brazil
o Middle East & Africa
UAE
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