Leather Goods Market Size & Share, Global Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Leather Goods Market


The global Leather Goods market size is projected to reach US$ 664.61 billion by 2026, from US$ 484.75 billion in 2020, at a CAGR of 5.4% during 2021-2026. 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.

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.

Market Segmentation, Outlook & Viewpoint: Global Leather Goods Market

Distribution Channel Market Segmentation & Outlook (Volume, Million Units; Revenue, USD Billion, 2014 - 2025)

  
E-Commerce
  
Retail Stores
  
Supermarkets/Hypermarkets
  
Others

Material Market Segmentation & Outlook (Volume, Million Units; Revenue, USD Billion, 2014 - 2025)

Footwear

  
Genuine Leather
  
Textiles & Tropical Fibers
  
Rubber & Plastic
  
Other

Leather Products

  
Genuine
  
Synthetic
  
Bio-based

Product Market Segmentation & Outlook (Volume, Million Units; Revenue, USD Billion, 2014 - 2025)

Footwear

  
Military Shoes
  
Casual Shoes
  
Slippers & Sandals
  
Sneakers
  
Others

Formal Shoes

  
Sports Shoes
  
Others

Leather Products

  
Upholstery
  
Luggage
  
Trunks
  
Suitcases
  
Others

Accessories

  
Clothing & Apparel
  
Bags, Wallets & Purses
  
Handbags
  
Coin Purses
  
Others

Others

Key Players, Recent Developments & Regional Insights: Global Leather Goods Market

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 decor 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.

Leather Goods Market Share Insights

The market is characterized by the presence of well-established companies, such as Adidas AG; Nike, Inc.; Puma SE; Fila, Inc.; New Balance Athletics, Inc.; Knoll, Inc.; Timberland LLC; Johnston & Murphy; and Woodland. Small- and medium-sized manufactures in the global market are well-versed with the local markets as well as the product demand, which gives them a competitive edge over others. These companies cater to the local demands and are able to reach their customers faster than their global counterparts.

Key Insights Covered: Global Leather Goods Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Leather Goods industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Leather Goods industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Leather Goods industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Leather Goods industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Leather Goods industry.

Research Methodology: Global Leather Goods Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other