Who are the key players in Leather Goods Market?

Kering SA, Samsonite IP Holdings S.ÀR.L., Tapestry, Inc., Adidas AG and Hermès International S.A. are the major companies operating in the Leather Goods Market. Read More

Which is the fastest growing region in Leather Goods Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Leather Goods Market?

In 2024, the Europe accounts for the largest market share in Leather Goods Market. Read More

What years does this Leather Goods Market cover, and what was the market size in 2023?

In 2023, the Leather Goods Market size was estimated at USD 291.69 billion. The report covers the Leather Goods Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Leather Goods Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key challenges in the Leather Goods Industry in terms of ethical sourcing & sustainability?

The key challenges in the Leather Goods Industry in terms of ethical sourcing & sustainability are a) Increasing concerns about animal welfare b) Deforestation & chemical use Read More

Leather Goods Market Size

Market Size of Leather Goods Industry

Study Period	2019 - 2029
Market Size (2024)	USD 304.80 Billion
Market Size (2029)	USD 376.21 Billion
CAGR (2024 - 2029)	4.30 %
Fastest Growing Market	Asia-Pacific
Largest Market	Europe
Major Players *Disclaimer: Major Players sorted in no particular order

Leather Goods Market Analysis

The Leather Goods Market size is estimated at USD 304.80 billion in 2024, and is expected to reach USD 376.21 billion by 2029, growing at a CAGR of 4.30% during the forecast period (2024-2029).

In the clothing industry, there is an increased use of leather due to its durable nature and premium appearance, which make it an excellent choice for clothing production. This is one of the major factors driving the uptake of leather in the market at the moment. Furthermore, leather goods are becoming increasingly popular as a result of fashion shows that showcase leather goods like jackets, shoes, bags, and other accessories that are promoting leather goods in the forecast period. The market players are introducing innovative and trendy products to meet the demands of the consumers and to maintain a loyal customer base, which is contributing to the growth of the market.

Additionally, consumers prefer compact and stylish leather goods and luggage. With changing fashion trends, men's accessories like leather bracelets, necklaces, and gloves are becoming increasingly popular. Thus, in the coming years, fashion trends are likely to change significantly, which will help to grow the industry. Furthermore, the growing government support for the leather industry is further driving market growth. For instance, in India, 100% FDI is allowed for the manufacturing of leather products through an automatic route. Between April 2000 and September 2021, the cumulative foreign direct investment (FDI) inflow in the case of the leather, leather goods, and pickers industries was USD 218.69 million.

Leather Goods Industry Segmentation

Leather goods are products made out of material from tanning hides and the skin of animals, mainly cattle. The process of tanning helps prevent the leather from being damaged while also smoothing its texture. The leather goods market is segmented on the basis of product type, distribution channel, and geography. Based on product type, the market is segmented into footwear, luggage, and accessories. The market is segmented by distribution channel into offline and online retail stores. The research also includes a global level analysis of the major regions, which include North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. The market sizing and forecasts for each segment are based on value (in USD million).

By Product Type
		Footwear
		Luggage
		Accessories

By Distribution Channel
		Offline Retail Stores
		Online Retail Stores

Geography

North America
	United States
	Canada
	Mexico
	Rest of North America

Europe
	Spain
	United Kingdom
	Germany
	France
	Italy
	Russia
	Rest of Europe

Asia-Pacific
	China
	Japan
	India
	Australia
	Rest of Asia-Pacific

South America
	Brazil
	Argentina
	Rest of South America

Middle-East and Africa
	South Africa
	United Arab Emirates
	Rest of Middle-East and Africa

Need A Different Region Or Segment?

Customize Now

Leather Goods Market Size Summary

The leather goods market is experiencing a robust expansion, driven by the increasing demand for durable and premium-quality products in the clothing industry. The market is witnessing a surge in the popularity of leather goods, fueled by fashion shows and the introduction of innovative and trendy products by market players. This trend is further supported by the growing consumer preference for compact and stylish leather items, including men's accessories like bracelets and gloves. Government support, such as allowing foreign direct investment in leather manufacturing, is also contributing to market growth. The rise in disposable incomes and the demand for luxury goods, particularly in Europe, North America, and Asia, are propelling the market forward. Luxury leather products, including exclusive handbags and accessories, are particularly appealing to affluent consumers, prompting companies to expand their product portfolios with new launches.

The European market plays a pivotal role in the international leather trade, with a strong presence of local and international players, and a significant contribution to global exports. The region's fashion-driven countries, such as France and Italy, remain key consumers, with increasing fashion consciousness and demand for high-quality leather goods. The market is highly competitive, with major players like Adidas, Samsonite, and Kering focusing on new product offerings and expansion strategies to meet consumer demands. The availability of high-valued raw materials and the presence of family-owned tanners in the European Union further bolster the market. Companies are also investing in sustainable practices, as seen in Tapestry, Inc.'s partnership with the World Wildlife Fund, to enhance traceability in the leather value chain.

Explore More

Leather Goods Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Market Drivers
2. 1.2 Market Restraints
3. 1.3 Porter's Five Forces Analysis
  1. 1.3.1 Threat of New Entrants
  2. 1.3.2 Bargaining Power of Buyers/Consumers
  3. 1.3.3 Bargaining Power of Suppliers
  4. 1.3.4 Threat of Substitute Products
  5. 1.3.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION
1. 2.1 By Product Type
  1. 2.1.1 Footwear
  2. 2.1.2 Luggage
  3. 2.1.3 Accessories
2. 2.2 By Distribution Channel
  1. 2.2.1 Offline Retail Stores
  2. 2.2.2 Online Retail Stores
3. 2.3 Geography
  1. 2.3.1 North America
    1. 2.3.1.1 United States
    2. 2.3.1.2 Canada
    3. 2.3.1.3 Mexico
    4. 2.3.1.4 Rest of North America
  2. 2.3.2 Europe
    1. 2.3.2.1 Spain
    2. 2.3.2.2 United Kingdom
    3. 2.3.2.3 Germany
    4. 2.3.2.4 France
    5. 2.3.2.5 Italy
    6. 2.3.2.6 Russia
    7. 2.3.2.7 Rest of Europe
  3. 2.3.3 Asia-Pacific
    1. 2.3.3.1 China
    2. 2.3.3.2 Japan
    3. 2.3.3.3 India
    4. 2.3.3.4 Australia
    5. 2.3.3.5 Rest of Asia-Pacific
  4. 2.3.4 South America
    1. 2.3.4.1 Brazil
    2. 2.3.4.2 Argentina
    3. 2.3.4.3 Rest of South America
  5. 2.3.5 Middle-East and Africa
    1. 2.3.5.1 South Africa
    2. 2.3.5.2 United Arab Emirates
    3. 2.3.5.3 Rest of Middle-East and Africa