Market Size of Europe Leather Goods Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 71.94 Billion |
| Market Size (2029) | USD 84.86 Billion |
| CAGR (2024 - 2029) | 3.36 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Leather Goods Market Analysis
The Europe Leather Goods Market size is estimated at USD 71.94 billion in 2024, and is expected to reach USD 84.86 billion by 2029, growing at a CAGR of 3.36% during the forecast period (2024-2029).
Europe is a region with great potential for the leather products market because its major countries, especially Spain & Italy, have high and convenient access to European raw resources. In addition, a number of these nations are leading the way in terms of creating innovative and superior designs. Additionally, a lot of well-known fashion companies that frequently sell leather products have stores in this nation, which is favorable for further growth & demand. Innovations in design and the use of exotic leather to manufacture products have enabled manufacturers to cater to the demand of high-end and premium customers. Additionally, key market players are focused on designing personalized and customized leather goods to attract consumers to spend more on exclusive products. Manufacturers are employing cutting-edge technology like the automated cutting process to provide variety and customization options.
The adoption of omnichannel retailing will be a significant factor expected to drive the leather goods industry growth. Product improvement, use of social media platforms to increase consumer engagement and awareness about product launches, and adopting appropriate distribution channels are some of the strategies that leather handbag manufacturers adopt to promote their products. Furthermore, the leather goods market is also supported by the tourism sector. Europe is experiencing a sharp rise in tourism. European leather goods are more popular among tourists. The demand for personalized leather luggage, trolley bags, and backpacks is rising as a result of the booming travel and tourism sector and the new trend of travel vlogging. Additionally, the growing popularity of fashion shows that feature leather purses, jackets, pants, and shoes are providing manufacturers with attractive growth potential.
Europe Leather Goods Industry Segmentation
Leather goods are products made from tanning hides and the skin of animals, mainly from cattle. The Europe leather goods market is segmented by type, distribution channel, and geography. Based on type the market is segmented into footwear, luggage, and accessories. Based on distribution channels, the market is segmented into offline and online retail stores. Based on geography, the market is segmented into the United Kingdom, Germany, Spain, France, Italy, Russia, and the Rest of Europe. For each segment, the market sizing and forecasts have been done based on value (in USD Million).
| Type | |
| Footwear | |
| Luggage | |
| Accessories |
| Distribution Channel | |
| Offline Retail Stores | |
| Online Retail Stores |
| Geography | |
| United Kingdom | |
| Germany | |
| Spain | |
| France | |
| Italy | |
| Russia | |
| Rest of Europe |
Europe Leather Goods Market Size Summary
The Europe leather goods market is poised for significant growth, driven by the region's rich heritage in leather craftsmanship and the presence of major fashion hubs like Spain and Italy. These countries benefit from easy access to raw materials and are at the forefront of innovative design, catering to high-end consumers with personalized and customized products. The market is further bolstered by the presence of renowned fashion brands and the adoption of advanced technologies in production processes. The rise of omnichannel retailing, coupled with the increasing popularity of personalized leather goods, is expected to enhance consumer engagement and drive demand. The tourism sector also plays a crucial role, with European leather products being highly sought after by tourists, thereby boosting the demand for leather luggage and accessories.
In the United Kingdom, the leather footwear market is experiencing growth due to the increasing number of working professionals and young millennials. The demand for flexible and lightweight leather products, along with their durability and versatility, makes them popular among consumers. The market is highly competitive, with major players like Kering SA, LVMH, Chanel SA, Prada, and Hermès International SA expanding their presence and product lines in Europe. These companies are investing in new designs and production facilities to meet the growing demand. Innovations such as biodegradable and sustainable leather alternatives are also gaining traction, reflecting the industry's commitment to sustainability. The expansion of distribution channels, including e-commerce, is expected to further drive the market's growth in the coming years.
Europe Leather Goods Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Footwear
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2.1.2 Luggage
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2.1.3 Accessories
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2.2 Distribution Channel
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2.2.1 Offline Retail Stores
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2.2.2 Online Retail Stores
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2.3 Geography
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2.3.1 United Kingdom
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2.3.2 Germany
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2.3.3 Spain
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2.3.4 France
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2.3.5 Italy
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2.3.6 Russia
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2.3.7 Rest of Europe
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Europe Leather Goods Market Size FAQs
How big is the Europe Leather Goods Market?
The Europe Leather Goods Market size is expected to reach USD 71.94 billion in 2024 and grow at a CAGR of 3.36% to reach USD 84.86 billion by 2029.
What is the current Europe Leather Goods Market size?
In 2024, the Europe Leather Goods Market size is expected to reach USD 71.94 billion.
