Market analysis of leather goods
The market research analyst predicts the leather goods industry to grow at a CAGR of around 4% during the forecast period. The rise in export of leather is the primary driver for the growth of this market. For instance, during 2014, the US exported hides, skins and semi-processed leather which generated a revenue of around USD 3 billion. China, Taiwan, Korea, Mexico, and the European countries were the biggest importers of leather products during 2014. Moreover, the growth of the global automobile industry is also fueling the demand for leather upholstery.
The growing demand for organic leather products is expected to contribute to the market growth during the forecast period. Conventional leather tanning has a disastrous effect on human health and also creates an ecological imbalance. Eco leather is organically tanned where the tanning process includes using plant tannins, vegetable tannins and smoke for the process. For instance, Natureally, a UK-based vendor, uses only certified leather from selected British farms. The leather is chrome-free, environmentally friendly and is certified free of harmful substances by the German certification body TUV Rheinland.
Product segmentation and analysis of – footwear, bags, wallets, purses, luggage
The footwear segment dominated the market during 2014 with a market share of 59%.
The report offers an analysis of each of the following segments and discusses its impact on the overall market growth -
- Bags, wallets and purses
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Geographical segmentation and analysis of the leather goods industry
The Americas accounted for 39% of the market share during 2014 and is predicted to retain its leadership until the end of 2019. The US is the market leader in this region followed by Canada. Product innovation and technological advancement are the primary growth drivers of this market.
Competitive landscape and key vendors – Hermes, Prada, Coach, Kering, Louis Vuitton
The leather goods industry is highly fragmented due to the presence of both top vendors and private players operating across the globe. The market is expected to be more competitive during the forecast period as a result of several product launches, price wars, mergers and acquisitions.
The leading vendors in the market are -
Key questions answered in the report include
- What will the market size and the growth rate be in 2019?
- What are the key factors driving the leather goods industry?
- What are the key market trends impacting the growth of the leather goods industry?
- What are the challenges to market growth?
- Who are the key vendors in the leather goods market?
- What are the market opportunities and threats faced by the vendors in the leather goods industry?
- Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA?
- What are the key outcomes of the five forces analysis of the leather goods industry?
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