Leather Goods Market: Market Size, Trends and Growth Analysis

In recent years, the demand for leather goods market has grown. Industry revenue is forecast to reach $0.6 billion by 2030, with a CAGR of 5.8%, over the next five years. The competitive rivalry seems to be high due to the large number of players competing with each other to gain market share. Consumer demand has been shifting toward the new design and innovative leather products with changing fashion trend and lifestyle.

Lucintel gives an overview of the key drivers of the industry. Upgraded designs, global economic growth, and the purchasing power of consumers are important key drivers for the leather goods industry. Emerging economies and availability of required resources enhanced the manufacturing facilities of the existing players.

A total of 45 figures / charts and 12 tables are provided in this report to help in your business decisions. Sample figures with some insights are shown below. 

This study provides an overview of the global leather goods market, tracking two market segments of that industry in four geographic regions. The report studies manufacturers of luggage and leather accessories product such as briefcases, suitcases, business cases, travel bags, leather jackets, handbags, wallets, purses, and belts. The study provides a five-year annual trend analysis that highlights market size, profit and cost structure for North America, Europe, APAC, and ROW.

The report studies the prevailing challenges facing the industry. The rising input cost of raw materials such as leather and plastic have severely impaired profit margins, which in turn have reduced the industry’s gross profit margin. High research and development activities in developing countries geared toward market expansion, as well as growth and capital expenditures for business expansion increased the overall debt present in the industry.

This study is intended to provide industry leaders with a competitive benchmarking of the global leather goods industry. The study provides up-to-date information on the market share, profit margins, capabilities, and strategies of the leaders.

This comprehensive guide from Lucintel provides readers with valuable information and the tools needed to successfully drive critical business decisions with a thorough understanding of the market’s potential. This report will save Lucintel clients hundreds of hours in personal research time on a global market and it offers significant benefits in expanding business opportunities throughout the global leather goods maket analysis. In a fast-paced ever-changing world, business leaders need every advantage available to them in a timely manner to drive change in the market and to stay ahead of their competition. This report provides business leaders with a keen advantage in this regard by making them aware of emerging trends and demand requirements on an annual basis.

Some of the features of Growth Opportunities in the Global Leather Goods Market report are: