The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The rising demand for premium and high-quality luxury leather items is likely to stimulate innovation in the leather goods production industry, propelling the market over the forecast period.

The global leather goods market is expected to grow from $350.77 billion in 2022 to $377.80 billion in 2023 at a compound annual growth rate (CAGR) of 7.70%. The global leather goods market size is expected to reach $496.37 billion in 2027 at a CAGR of 7.06%.

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Global Leather Goods Market Segments Include:

• By Leather Type: Full Grain Leather, Split Grain Leather, Genuine Leather, Faux Leather, Bonded Leather
• By Product: Footwear, Handbags, Apparel, Luggage, Wallet, Belts, Other Products
• By Grade: High-Grade, Mid-Grade
• By Distribution Channel: Specialty Stores, Company Franchised Stores, E-Commerce, Supermarkets And Hypermarkets, Other Distribution Channels
• By End- User: Men, Women, Kids
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe is the largest region in the global leather goods market in 2021.

Major Market Players in the leather goods market include Kering SA, Adidas AG, Hermes International S.A., Louis Vuitton SE, Samsonite IP Holdings S.AR.L., New Balance Athletics Inc., Knoll Inc., Timberland LLC, Johnston And Murphy, Woodland.

Product innovation is a prevalent trend in the leather goods sector. Major players in the leather products market are focusing on finding novel solutions to increase their market position. For example, Hermes International S.A., a luxury goods firm based in France, debuted the Victoria bag, a novel mushroom-based leather bag that is the world’s first product created with Fine Mycelium, in March 2021. Fine Mecelium is a patented method that improves the growth of mycelium. The amber-colored panels formed of mycelium, the thread-like filament structure of fungi, are the special and unique elements incorporated in this product. It is made of Sylvania-based leather, which gives it strength and durability while yet making it easy to carry.

The Leather Goods Global Market Report 2023  provides a leather goods market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The leather goods market forecast analyzes leather goods market size, leather goods market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Leather products are items made of leather. These are made from animal skins and hides that have been chemically treated or tanned to keep them from decomposing. Leather is a tough, flexible, and long-lasting material. Leather goods include a variety of lifestyle products that are used by various clients for personal usage or to boost their social status.

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