Luxury Leather Goods Market Growth & Trends
The global luxury leather goods market size is expected to reach USD 140.55 billion by 2030, expanding at a CAGR of 5.4%. Rising demand for luxury products among consumers to showcase their status, increasing disposable income and purchasing power of consumers, and rise in the number of brand obsessed people are driving the market.
Rising fashion consciousness among men, along with women, is attracting various brands to expand their product portfolio in the men’s segment. Apart from the traditional luxury brand, recent affordable luxury brands are also gaining importance in the market. Various startups have come up with customized lavish products as per the demand of consumers. For instance, 1Atelier allows customers to customize the color and hardware of their leather hand bags. The strong brand recognition, along with high unit price, is driving the sales of these products in the market.
Asia Pacific has been witnessing rapid growth over the past few years on account of increasing buying pattern of lavish goods. India, China, and Japan are some of the leading markets in Asia Pacific, responsible for triggering the market growth in this region. China is one of the biggest markets for luxury leather products. As per the survey, a lot of Chinese people who travel to overseas countries save on food and hotels but spend on purchasing lavish products. Moreover, the luxury consumers of China are younger than the world average, thereby making it one of the largest markets for luxury leather products in the world.
Based on product, the market is divided into footwear, bags, accessories, and others. The leather shoes are popular among both the genders for its status symbol and demand in formal outfit. It is not only used in casual dresses but also for formal attire. Luxury footwear are more of a fashion statement and footwear shoppers spend more and buy more frequently as compared to other leather products, thereby driving the segment.
Luxury Leather Goods Market Report Highlights
- By product, small leather accessories is anticipated to grow at a CAGR of 5.8% over the forecast period
- The handbags & purses dominated the market and accounted for a share of 33.3% in 2023
- U.S., Germany, U.K., China, Japan, and Turkey are the major countries with the largest market in their respective regions.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Luxury Leather Goods Market Variables, Trends, & Scope
Chapter 4. Luxury Leather Goods Market: Product Estimates & Trend Analysis
Chapter 5. Luxury Leather Goods Market: Distribution Channel Estimates & Trend Analysis
Chapter 6. Luxury Leather Goods Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
Companies Mentioned
- Louis Vuitton Malletier SAS
- Guccio Gucci S.p.A.
- Hermès
- Prada S.p.A.
- Chanel S.A.
- Burberry Group plc
- Tapestry, Inc.
- Michael Kors Holdings Limited
- Salvatore Ferragamo S.p.A.
- Fendi S.r.l.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 97.2 Billion |
| Forecasted Market Value ( USD | $ 140.55 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
