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Global Leather Goods Market Analysis with COVID-19 Recovery Plan and Strategies for the Consumer Discretionary Industry | Technavio


The leather goods market research report examines the key questions around the implications of COVID-19 and provides a recovery analysis and outlook for the market in focus. Although the market has witnessed a negative impact due to the COVID-19 situation, the research analysts at Technavio expect the leather goods market to recover and grow by USD 55.31 billion during the forecast period, accelerating at a CAGR of over 4%.

Leather Goods Market Segmentation Analysis by Product

Vendors are focusing on customization and innovation in design and features in the footwear segment to capture market share. However, the leather goods market share growth by the footwear segment will be slower than the growth of the market by LBWP segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the leather goods market size.

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Leather Goods Market Regional analysis

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Leather Goods Market: Key Market Drivers

Leather goods market is expected to be driven by the increasing spend on personal goods due to growing fashion-consciousness. Fashion-conscious consumers seek unique designs, styles, and colors that can provide an aesthetic and modern look to leather goods. In addition, the rise in customer spending power, evolving lifestyles, and rising penetration of smartphones are also contributing to the growth of the market. Increasing awareness through online channels is encouraging consumers to purchase the latest and unique designs of leather goods.

Increase in Demand for Luxury Handbags Made of Eco-Friendly Materials will be a Key Market Trend

Luxury handbags made of eco-friendly materials are gaining immense popularity worldwide, especially in countries such as China, the US, and Japan. Thus, companies are phasing out harmful PVC from their products and focusing on launching organic leather goods. One of the vendors, Kering SA, has already started using eco-friendly and organic leather for finished products. Thus, the increasing demand for eco-friendly products will drive the demand for leather goods, thereby driving market growth.

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Leather Goods Market 2020-2024 : Key Highlights

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Executive Summary

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Distribution channel

Customer landscape

Geographic Landscape

Vendor Landscape

Vendor Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


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