leather goods market analysis considers sales from both online and offline distribution channels. Our analysis report also considers finds the sales of leather goods in APAC, Europe, North America, South America, and MEA. In 2018, the offline segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as significant growth of retail channels in different cities and regions will play a significant vital role in the offline segment to maintain its market position. Also, our global leather goods market report looks at factors such as product premiumization owing to design and material innovation, innovative marketing strategies, and increased spending on personal goods due to growing fashion-consciousness. However, fluctuating operational costs, the impact of trade wars, and the availability of counterfeit products may hamper the growth of the leather goods industry over the forecast period.
Global Leather Goods Market: Overview
Increasing spending on personal goods due to growing fashion-consciousness
Fashion-conscious consumers seek unique designs, styles, and colors that can provide an aesthetic and modern look to leather goods. In additionAlso, the rise in customer spending power, evolving lifestyles, and rising penetration of smartphones are also contributing to the growth of the market. Increasing awareness through online channels is encouraging consumers to purchase the latest and unique designs of leather goods. Furthermore, the growing number of working women across the world is also resulting in an increased interest in personal goods, such as handbags and footwear. This increasing spending on personal goods will lead to the expansion of the global leather goods market at a CAGR of over 5% during the forecast period.
Increase in demand for luxury handbags made of eco-friendly materials
The growing demand for leather goods has increased the use of tanning agents for leather, and the improper disposal of these agents has resulted in ecological imbalance. Thus, governments have devised stringent laws on the proper treatment of these tanning agents and related solutions before disposal. ThusTherefore, the increasing use of organic leather is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global leather goods market during the forecast period 2019-2023, click here.
With the presence of several major players, the global leather goods market is moderately fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading leather goods manufacturers, that include adidas AG, Capri Holdings Ltd., Compagnie Financière Richemont SA, Hermès, Kering SA, LVMH Moët Hennessy - Louis Vuitton, Nike Inc., PRADA Spa, Tapestry Inc., VF Corp.
Also, the leather goods market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming future growth opportunities.
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