Luxury Leather Goods Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

Leather fashion accessories are items made of leather generally worn with or are supplementary to other clothing items. They typically have a functional and aesthetic value. Leather accessories also typically have a longer life cycle than garments and non-leather fashion accessories, especially when it comes to high-end products that gain value over time. Luxury leather merchandise embraces styles of luggage, suitcases, wallets, apparel, footwear, and alternative accessories. Shopping for high-priced luxury animal skin merchandise has currently become an emblem of standing.
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Moreover, the rise in the trend to produce personalized and customized services to the high-end and premium customers, for attracting them which is further estimated to cushion the growth of the luxury leather goods market. On the other hand, increasing non-profit organizations that are working to protect against animal cruelty and killing is further projected to impede the growth of the luxury leather goods market.

According to UnivDatos Market Insights (UMI)’ research report “global luxury leather goods”, is expected to grow at a CAGR of around 5% during the forecast period (2021-2027). The luxury leather goods market is growing at an influential rate in past years and is expected to follow the same growth trend in the forecasted period as well. It is mainly owing to the rising consumer demand for the luxury product owing to the surging disposable income, the standard of living, and rise in the number of brand obsessed people are driving the market.

Major factors that are expected to boost the growth of the luxury leather goods market in the forecast period are the rise in the demand for purses, wallets, jackets, footwear, belts, and increasing alternative fashion accessories among men and women. Moreover, consumers are more inclined toward aesthetic factors, and the demand for premium range goods as a fashion statement has increased. Europe-based companies, such as Gucci, Gianni Versace, and Louis Vuitton, are the key players involved in manufacturing leather-based accessories.

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Based on Product, the luxury leather goods market is segmented into footwear, bag, accessories, and other. The footwear segment catered to significant demand in the luxury leather goods market. Leather shoes are popular among both genders for their status symbol and demand in a formal outfit. It is not only used in casual dresses but also for formal attire.

Based on grade trade, the luxury leather goods market is bifurcated into high-grade, mid-grade, low-grade. The high-grade segment holds a considerable market share in the luxury leather goods market. High-grade leather is considered the top layer of the hide, including the full thickness of the skin, and is not sanded or buffed to remove natural marks or imperfections. All the grain remains in full-grain leather, which allows fiber strength, durability, and breathability.

Europe to witness significant growth

Based on region, the report provides a detailed analysis of the overall adoption of Luxury leather goods in the major region including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), Rest of World. Europe holds an extensive market share owing to the strong presence of local and international players, product and technological innovations, rise in online retailing, and the use of social media platforms are some of the major factors driving the growth of the European market.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Luxury leather goods market are Prada Group, CHANEL, Burberry, Hugo Boss, Natuzzi, Michael Kors, Dior, Hermes, Tory Burch, Kate Spade. Several strategic decisions have been undertaken by these players to boost their presence in different regions. For instance:

·        In October 2019, as a part of the expansion strategy, Hermes decided to open a production site in France to improve the penetration of its products in the country and around the region.

“Global Luxury leather goods Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.        

Market Segmentations:

1.      By Product (Footwear, Bag, Accessories, and Other)

2.      By Grade-Type (High-Grade, Mid-Grade, and Low-Grade)

3.      By Distribution Channel (Offline Retail Store and Online Retail Store)

4.      By Application (Men and Women)

5.      By Region (North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)

6.      By Company (Prada Group, CHANEL, Burberry, Hugo Boss, Natuzzi, Michael Kors, Dior, Hermes, Tory Burch, Kate Spade)

Key questions answered in the study:

1.      What are the current and future trends of the global Luxury leather goods industry?

2.      How the industry has been evolving in terms of product, grade type, distribution channel, application?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global Luxury leather goods industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global Luxury leather goods suppliers across various region and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL LUXURY LEATHER GOODS MARKET COVID-19 IMPACT

6 GLOBAL LUXURY LEATHER GOODS MARKET REVENUE 2019-2027F

7 MARKET INSIGHTS BY PRODUCT

8 MARKET INSIGHTS BY GRADE TYPE

9 MARKET INSIGHTS BY DISTRIBUTION CHANNEL

10 MARKET INSIGHTS BY APPLICATION

11 MARKET INSIGHTS BY REGION

12 LUXURY LEATHER GOODS MARKET DYNAMICS

13 LUXURY LEATHER GOODS MARKET OPPORTUNITIES

14 LUXURY LEATHER GOODS MARKET TRENDS

15 LEGAL & REGULATORY FRAMEWORK

16 DEMAND AND SUPPLY SIDE ANALYSIS

17 VALUE CHAIN ANALYSIS

18 COMPETITIVE SCENARIO

19 COMPANY PROFILED

20 DISCLAIMER

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