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Leather Goods Market Estimated To Register A Highest CAGR Of 5.4% From 2018 To 2025: Grand View Research Inc.

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Leather Goods Market Estimated To Register A Highest CAGR Of 5.4% From 2018 To 2025: Grand View Research Inc.

March 12
12:54 2019

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The leather goods market growth is mainly driven by growing disposable income, improved living standards, changing fashion trends, and growing domestic and international tourism.

According to a report,“Leather Goods Market Size, Share & Trends Analysis Report, By Distribution Channel (E-commerce, Retail Stores), By Product (Footwear, Luggage, Accessories, Others), By Material And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., the global leather goods market size is expected to reach USD 629.65 billion expanding at a CAGR of 5.4% by 2025. The market growth is driven by the millennials and Generation Z as younger shoppers seek a personalized shopping experience that integrates both online and offline platforms. In the offline platforms, the availability of leather goods in retail stores has an affinity to showcase its content to a large number of audiences. In U.S. it was reported that 94% of all the purchases made in 2016 were through retail stores.

Key Takeaways from the report:

  • Rubber & plastic material segment in the footwear market is expected to witness the highest growth rate over the forecast period

  • E-commerce distribution channel in North America was estimated as the largest segment of the leather goods market in 2017

  • China was the largest market. The Asia Pacific region is expected to be the fastest-growing regional market during the estimated period.

U.S. leather goods market size, by distribution channel, 2014 - 2025 (USD Billion)

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Global footwear market share, by product, 2017 (%)

The major reasons driving the sale included age, gender, and location. In the footwear product segment, casual shoes like sneakers, slippers, and flats are gaining popularity, which is expected to boost the segment growth in the coming years. The market for formal shoes is expected to witness a significant growth over the forecast period owing to constant innovations, in terms of products and designs. In the sports shoes category, major manufacturers in the market including Adidas AG; Nike, Inc.; New Balance Athletics, Inc.; and Sketchers USA, Inc. are increasingly focusing on developing innovative technologies to enhance the stability of sports shoes and make them more comfortable.

Application of leather in manufacturing bags and wallets has increased significantly in the recent years. Among all types of leather, synthetic leather has attained tremendous popularity as it is softer than conventional leather and offers high durability. The growth of casual footwear segment coupled with increasing online purchases is expected to drive the leather goods market in North America over the forecast period. Furthermore, rising number of athletes in the region and awareness about the benefits of staying active and fit are anticipated to fuel the market growth.

Grand View Research has segmented the global leather goods market on the basis of basis of distribution channel, material, product, and region:

Leather Goods Distribution Channel Outlook (Volume, Million Units; Revenue, USD Billion, 2014 – 2025)

  • E-Commerce

  • Retail Stores

  • Supermarkets/Hypermarkets

  • Others

Leather Goods Material Outlook (Volume, Million Units; Revenue, USD Billion, 2014 – 2025)

  • Footwear

    • Genuine Leather

    • Textiles & Tropical Fibers

    • Rubber & Plastic

    • Other

  • Leather Products

    • Genuine Leather

    • Synthetic Leather

    • Bio-based Leather

Leather Goods Product Outlook (Volume, Million Units; Revenue, USD Billion, 2014 – 2025)

  • Footwear

    • Military Shoes

    • Casual Shoes

      • Slippers & Sandals

      • Sneakers

      • Others

    • Formal Shoes

    • Sports Shoes

    • Others

  • Leather products

    • Upholstery

    • Luggage

      • Trunks

      • Suitcases

      • Others

    • Accessories

    • Clothing & Apparel

    • Bags, Wallets, & Purses

      • Handbags

      • Coin Purses

      • Others

    • Others

Leather Goods Regional Outlook (Volume, Million Units; Revenue, USD Billion, 2014 – 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Netherlands

  • Asia Pacific

    • China

    • India

    • Japan

    • Malaysia

    • Indonesia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • UAE

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: Switzerland
Website: www.grandviewresearch.com/industry-analysis/leather-goods-market

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