The increment in disposable incomes and changes in fashion trends coupled with rapid growth in fashion stores will influence the Leather Goods Market
Published | March 2019
Growing innovation in leather goods design along with the addition of new features will boost the Leather Goods Market in the upcoming year. Moreover, the major factor driving the market growth is the rise in consumer preference for branded leather goods and improvement in distribution network such as the opening of new retail stores in various cities. Furthermore, growth in consumer awareness about the latest fashion trends in the world in the account of massive internet penetration and rising adoption of social media platforms which is expected to trigger the global leather goods market. Moreover, the growing tourism industry around the globe has prompted the expansion of leather luggage market which will be expected to play a major role in the leather goods market.
Furthermore, rising demand for comfortable, trendy, and fancy leather goods along with growing brand awareness is expected to have a positive impact on the leather goods market. Additionally, initiatives and policy from government and financial institutions to support small manufacturing industries related to leather goods industry development is another key factor to influence the global leather goods market on a huge scale. Besides it, the increasing number of working men and women population across the globe that are attracted towards diverse wardrobe fashion collection around the world is another key factor for augmentation in global leather goods market in the anticipated period.
According to BlueWeave Consulting, The global Leather Goods market is expected to grow with a significant rate during the forecast period 2018-2025 owing to growth in disposable income, improved living of standards, changing fashion trends, and growing domestic and international tourism.
Footwear Products of Leather Goods market is projected to be the leading segment of the overall market during the forecast period
On the basis of Products type, the Leather Goods market has been segmented into Footwear, Luggage, Wallets & Purses, Apparel, and Others. By product type, Footwear segment dominates the global Leather Goods in the account of increasing inclination of consumer towards comfortable and high-quality leather products, increment in per capita coupled with spending on consumer goods. Luggage segment will drive by the availability of stylish and designed with luggage products offered by market players in online and retail stores both. Purses and wallets market will influence by changing in consumers preference for purses and wallets which are comfortable and stylish products.
E-commerce is projected to the leading distribution channel for providing of the Leather Goods during the forecast period
On the basis of distribution, the global Leather Goods market has been segmented into E-commerce and retail stores. By distribution channel, E-commerce will lead the market due to increasing penetration of internet users across the globe along with the availability of comfortable & designed products with lower prices than a conventional store. Retail stores segment will drive rapid urbanization & industrialization which lead to the growth of retail stores in smaller cities to easily reachable by any consumers.
Asia accounts for lion's share of the global Leather Goods market during the anticipated period.
On the basis of region, the Leather Goods market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia dominates the world Leather Goods market over the forecast period owing to home for major leather goods manufacturing companies coupled with economic growth in China and India. North America is projected to be the fastest growing market throughout the forecast period due to the rapid expansion of online e-commerce companies.
Global Leather Goods Market Competitive Landscape
Companies, such Tosoh, Iluka Resources, Tronox, Richards Bay Minerals, Foskor, Alkane Resources, Astron, Kenmare Resources, Moly, Astron Advanced Materials, Wah Chang, Australian Zircon, EI DuPont de Nemours, Bemax Resources, Exxaro Resources, Luxfer Group, Rio-Tinto, Smartac Group China Holdings, and Namakwa Sand are the key players in manufacturing Leather Goods.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global Leather Goods Market size & forecast. The report promises to provide state-of-the-art technology of Leather Goods production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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