The global leather goods market to reach US$ 490.2 Billion by 2027, exhibiting a CAGR of 6.1% during 2022-2027.

SHERIDAN, WYOMING, UNITED STATES, July 29, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Leather Goods Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global leather goods market reached a value of US$ 350.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 490.2 Billion by 2027, exhibiting a CAGR of 6.1% during 2022-2027.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

The skins and hides of many animals, including as buffalo, cattle, sheep, hogs, and goats, are used to create leather items. To increase their strength, durability, and flexibility, they are treated with a variety of chemicals, including tanning agents, solvents, surfactants, dyes, oils, and salts, among others. Saddles, gloves, jewellery, footwear, clothing, harnesses, belts, bags, watches, wallets, smartphone covers, and other items can all be classified as leather goods. These items survive a long time and are resistant to fire, cracks, and dust. As a result, leather products are widely used in the production of sporting goods, clothing, automobiles, upholstery, etc.

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Market Trends

The market for leather goods is primarily driven by the growing population and rising personal income levels. In addition, the rising demand for the product as a result of its usefulness, comfort, and affordability is boosting the market's expansion. In addition, the increasing use of cutting-edge technology by top suppliers to produce distinctive and fashionable materials, such as automated cutting processes, is accelerating the global market. Additionally, the expanding automobile industry is another important driver spurring growth. Additionally, the industry is expanding because to the global movement toward ethical and sustainable fashion. Furthermore, it is anticipated that the market for leather items would grow in the next years as bio-based materials replace conventional ones.

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The report has segmented the market on the basis of product, material type, price, distribution channel and geography.

Breakup by Product:

Footwear
Military Shoes
Casual Shoes
Formal Shoes
Sports Shoes
Others
Other Leather Products
Upholstery
Luggage
Accessories
Clothing & Apparel
Bags, Wallets and Purses
Others

Breakup by Material Type:

Genuine Leather
Top-grain Leather
Split-grain Leather
Synthetic Leather
PU-Based Leather
PVC-Based Leather
Bio-Based Leather

Breakup by Price:

Premium Products
Mass Products

Breakup by Distribution Channel:

Clothing and Sportswear Retailers
Departmental Stores
Supermarkets and Hypermarkets
Online Stores
Others

Breakup by Geography:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Adidas AG, American Leather Holdings LLC, Capri Holdings Limited, Hermès International S.A., Kering S.A., LVMH, Prada S.p.A. (Prada Holding S.P.A), Puma SE, Tapestry Inc., VIP Industries (Piramal Group) and Woodland (Aero Group).

Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
+1 6317911145
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