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
Footwear
LBWP
Others
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
The report covers regional analysis for APAC (India, China, Japan, and South Korea), Europe (Germany, France, UK, Italy), North America (US, Canada, Mexico), South America (Brazil, Argentina, Columbia), and MEA ( UAE, Saudi Arabia, Iran).
40% of the growth will originate from the APAC region.
Factors such as economic growth, expanding middle-class population, and the high number of vendors will significantly drive leather goods market growth in this region over the forecast period.
China and India are the key markets for leather goods in APAC.
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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
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist leather goods market growth during the next five years
Estimation of the leather goods market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the leather goods market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details on factors that will challenge the growth of leather goods market vendors
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North America - Market size and forecast 2019-2024
Europe - Market size and forecast 2019-2024
South America - Market size and forecast 2019-2024
MEA - Market size and forecast 2019-2024
Key leading countries
Market opportunity by geography
Market drivers
Market challenges
Market trends
Vendor Landscape
Vendor landscape
Landscape disruption
Competitive Scenario
Vendor Analysis
Vendors covered
Market positioning of vendors
adidas AG
Capri Holdings Ltd.
Compagnie Financière Richemont SA
Hermès International
Kering SA
LVMH Moet Hennessy - Louis Vuitton
Nike Inc.
PRADA Group
Tapestry Inc.
VF Corp.
Appendix
Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations
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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