Published Date : 30 Sep 19 | Views: 121 | Industry : Consumer Goods
Footwear segment to be at the forefront in the global Leather Goods
The global Leather Goods market is segmented into by product and by
application. On the basis of product, the market is further segmented into
synthetic leather, cowhide, sheep and goat skin, hog skin, deer skin, buffalo
hide, crocodile, and Others. Changing home décor trends resulted in a high
demand for synthetic leather.
By application, the market is segmented into footwear, vehicle
upholstery, gloves, luggage and other leather goods, clothing, and furniture
upholstery. Among these applications, the footwear segment is estimated to
account for a strong market share in the global Leather Goods market. Sneakers
are highly popular in the footwear segment because of its comfort and
North America is likely to hold a greater market share in the global
Leather Goods market
US is one of the largest markets in North America and Projected to
acquire a major market share in the global Leather Goods market. Increasing
spending capacity in the US is likely to be the key factor driving the product
demand. Growing popularity of online shopping because of various digital
payment options and expansion of the e-commerce industry is further
accelerating the global Leather Goods market growth.
As far as Asia Pacific is concerned, it is anticipated to register the
fastest growth in the global market due to the increasing standard of living
and consumer disposable income in developing countries. Fast growth in the
construction and automobile industries is supporting the Leather Goods market
Some of the key players operating in the global Leather Goods market are
Richemont Group, Prada Group, MANWAH, Belle, Hugo Boss, Red Dragonfly, Coach,
Ekornes , Kering, Hermes, Natuzzi, LVMH, Burberry, Ferragamo, Daphne, AoKang,
Saturday, Fossil Group and C. banner
Emerging fashion trends is anticipated to drive the global Leather Goods
Emerging fashion trends across the world has compelled manufacturers to
launch a variety of trendy and fashionable products to serve the changing
demands of consumers and attract more number of customers. Additionally,
consumer prefers leather goods, which are convenient yet fashionable.
Therefore, evolving fashion trends could solidify the Leather Goods market
growth in the years to come.
Rise in the domestic, as well as international tours, has flourished the growth of several other industries. People are opting for premium quality leather luggage bags and handbags for traveling, which is forecasted to surge the demand for Leather Goods in the global market. Nowadays, people are more concerned about their personality and products that they are using. Increasing awareness about branded products could help in the growth of Leather Goods market.