Leather Goods Industry | Forecast 2030
Leather Goods Industry Data Book – Leather Handbags, Small Leather Goods/ Accessories, Leather Apparel, Leather Footwear, Leather Home Decor & Furnishing, Leather Pet Accessories and Leather Automotive Accessories Market
The leather goods industry is projected to experience growth owing to several factors, including an increase in consumer disposable income, improved living standards, evolving fashion trends, and the rise in domestic and international tourism. The demand for stylish and comfortable leather apparel, leather goods, and accessories is on the rise, driven by growing brand awareness among consumers.
Leather Goods Industry Data Book Coverage Snapshot
- Leather Goods Industry USD 242.85 billion in 2022 6.6% CAGR (2023-2030)
- Leather Handbags Market Size USD 37.32 billion in 2022 6.8% CAGR (2023-2030)
- Small Leather Goods/ Accessories Market Size USD 21.79 billion in 2022 5.8% CAGR (2023-2030)
- Leather Apparel Market Size USD 42.84 billion in 2022 6.0% CAGR (2023-2030)
- Leather Footwear Market Size USD 95.37 billion in 2022 7.0% CAGR (2023-2030)
- Leather Home Decor and Furnishing Market Size USD 16.64 billion in 2022 5.3% CAGR (2023-2030)
- Leather Pet Accessories Market Size USD 1.10 billion in 2022 4.4% CAGR (2023-2030)
- Leather Automotive Accessories Market Size USD 27.79 billion in 2022 7.3% CAGR (2023-2030)
Access the Global Leather Goods Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Leather Handbags Market Growth and Trends
The leather handbag market is gaining popularity due to the rising demand from the millennial population. Brands such as Gucci, Prada, and Louis Vuitton are popular among both men and women across the globe. Evolving trends such as the introduction of new colorful leather handbags available in different shapes and sizes are expected to boost this segment’s growth. With a busy life and hectic work schedule, consumers are looking for a leather tote that is elegant, fashionable, and trendy as well as enables them to carry all their daily essentials hassle-free. Tote bags are quite spacious and can be used for both formal and casual occasions.
Small Leather Goods/ Accessories Market Growth and Trends
The growth of the small leather goods market is propelled by the increasing demand for fashionable small leather accessories such as wallets, phone covers, watch straps, and pouches. Consumers are seeking highly durable and sleek leather accessories to meet their needs. Leather wallets and pouches are popular choices for everyday cash storage due to their durability and style. Unlike hard materials such as nylon or plastic that can cause discomfort, leather remains smooth even when folded, making it more comfortable to carry in one’s pocket.
Order your copy of the Free Sample of “Leather Goods Industry Data Book – Leather Handbags, Small Leather Goods/ Accessories, Leather Apparel, Leather Footwear, Leather Home Decor & Furnishing, Leather Pet Accessories and Leather Automotive Accessories Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030, published by Grand View Research
Leather Apparel Market Growth and Trends
Continuously evolving personal grooming as well as fashion habits among men and women along with the subsequent demand for comfort wear, has been driving this market growth. Rising product availability with a range of unique designs, color combinations, prints, and customized designs in leather shirts for men has been driving segment growth. Furthermore, the increased preference among men for leather shirts that are lightweight and come with customized designs to add distinction to the clothing has resulted in higher penetration of leather shirts for men.
Leather Footwear Market Growth & Trends
The global leather footwear market size is expected to reach USD 202,305 million by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 2.8% during the forecast period, attributed to the rise in working class population and disposable income, flourishing retail e-commerce sector, and evolving fashion trends in business wear. Availability of myriad products and shopping channels will further accelerate the growth.
Leather footwear market is closely aligned with consumer spending on fashion accessories. Rapid rise in spending on fashion accessories due to growing influence of social media is driving the market. Evolving shopping trends and increasing propensity toward buying high-end and designer shoes are estimated to fuel the market growth. On the other hand, availability of counterfeit shoe products developed by local manufactures may hinder growth. However, high demand for trendy, fancy, and comfortable footwear is driving the market growth.
Leather Home Decor and Furnishing Market Growth and Trends
Increasing expenditure of people on home furnishing and renovation has been a factor driving the leather home decor & furnishing market growth. According to the International Monetary Fund, the global housing market has been steadily climbing up as of 2022. Another important factor is the housing index, which reflects changing prices of residential properties. The leather furniture segment includes a diverse range of products like dining sets, rocking chairs, and recliner chairs. The market for leather furniture involves a myriad range of regional and domestic manufacturers globally, and each player, to create a unique position in the market and to sustain customers, has been focusing on continuous product evolutions.