The Worldwide Leather Goods Industry is Expected to Reach $703.5 Billion by 2027 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Leather Goods Market Size, Trends & Growth Opportunity, By Type, By Product, By Region and Forecast to 2027." report has been added to ResearchAndMarkets.com's offering.

The global Leather Goods market was valued at USD 400 billion in 2021 which expected to reach USD 703.5 billion by 2027 at a CAGR 8.78 % from 2021-2027.

Companies Mentioned

• Adidas AG
• Nike Inc.
• Puma SE
• Fila Inc.
• New Balance Athletics Inc.
• Knoll Inc.
• Samsonite International S.A.
• VIP Industries Ltd.
• Timberland LLC
• Johnston & Murphy

Leather goods are articles or materials created from leather. Full-grain leather, top grain leather, rectified grain leather, bonded leather, and more forms of leather exist. Gloves, garments, bags, footwear, watches, furniture, and other items made of leather are examples of leather goods. One of the primary driving factors influencing market expansion is an increase in the demand for leather in the creation of garments.

Market Drivers

Rising consumer disposable income, increasing living standards, changing fashion trends, and more domestic and international travel are the primary drivers of the market. Rising demand for comfortable, contemporary, and fancy leather garments, footwear, and accessories, as well as increased brand awareness, are likely to benefit the sector.

COVID-19 Impact on the Leather Goods Market

The COVID-19 pandemic has had a significant influence on the leather industry as a whole, including footwear, clothes, and accessories. Retailers suffered significant losses in the first two quarters of 2020. According to World Footwear, footwear sales in the United States fell by about 32% at the conclusion of the first two quarters of 2020.

Low demand for footwear in general is projected to reduce the sales of leather shoes. Many industrial producers have historically relied on China for finished goods as well as raw materials utilized in the production of various leather items. The epidemic, on the other hand, has interrupted the supply chain, resulting in significant losses in terms of product shipment and on-time delivery.

Market Segmentation

By Type

• Genuine Leather
• Synthetic Leather
• Vegan Leather

By Product

• Handbags
• Small Leather Goods/ Accessories
• Apparel
• Footwear
• Home Decor And Furnishing
• Pet Accessories
• Automotive Accessories

By Region

• North America
• Latin America
• Europe
• China
• Asia Pacific
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Leather Goods Market?
• What will be the growth rate from 2020 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?

For more information about this report visit https://www.researchandmarkets.com/r/jeim1