Europe Leather Goods Market Outlook, 2028

Europe is known for its high-quality leather goods, with many renowned fashion houses and luxury brands producing some of the most iconic leather products in the world. Leather goods are deeply embedded in European fashion culture, with people often willing to invest in quality leather products that can last a lifetime. Furthermore, the disposable income of people in Europe has been increasing, which has resulted in an increase in purchasing power. Consumers are now more willing to spend on high-end leather goods, which have boosted the demand for luxury leather goods. Moreover, one of the unique features of European leather goods is their use of vegetable-tanned leather. This traditional method of tanning involves using natural tannins found in plant matter, such as oak bark, instead of chemicals. Vegetable-tanned leather is prized for its durability, natural appearance, and eco-friendliness. Italy, in particular, is famous for its high-quality vegetable-tanned leather, which is used to make luxury leather goods like handbags, wallets, and shoes. In addition, there is a growing demand for leather goods made from sustainable materials, such as vegetable-tanned leather, recycled leather, and alternative materials like cork and Piatex (made from pineapple leaves). Consumers are becoming increasingly conscious of the environmental impact of their purchases and are seeking out eco-friendly options. Furthermore, leather goods are often associated with luxury and high fashion in Europe. For instance, some of the most famous luxury leather goods brands in Europe include Hermès, Gucci, Louis Vuitton, and Prada.

According to the research report, “Europe Leather Goods Market Outlook, 2028” the market was valued at USD 98.29 Billion in 2022. The leather goods market in Europe is not just limited to traditional leather products. Some companies are also experimenting with unconventional materials, such as fish skin or mushrooms, to create new and innovative leather-like materials. Furthermore, personalization is becoming increasingly popular, with many consumers looking for unique products that reflect their personal style. Some companies are now offering customized products, such as monogrammed bags and personalized wallets. Moreover, leather goods with smart features such as wireless charging and tracking devices are becoming more popular as consumers look for products that can be seamlessly integrated into their digital lives. In addition, with travel restrictions easing, there is an increasing demand for leather goods that are travel-friendly. Products such as passport holders, travel wallets, and luggage tags are becoming more popular, offering practical solutions for the modern traveler. Furthermore, art-inspired designs are a trend in the leather goods market, with products featuring bold and colorful designs inspired by famous artists such as Van Gogh and Mondrian. These products offer a unique and creative alternative to traditional leather goods. Furthermore, in 2021, Louis Vuitton collaborated with Swiss contemporary artist Urs Fischer on a limited-edition collection of leather goods featuring Fischer's whimsical illustrations. Moreover, Italian fashion house Prada collaborated with Belgian fashion designer Raf Simons in 2021 to create a collection of leather bags, backpacks, and small leather goods featuring a bold graphic print.

The genuine leather segment continues to lead in Europe due to a number of factors. Firstly, genuine leather is perceived as a high-quality and durable material, making it a preferred choice for luxury and high-end products. Consumers in Europe often associate genuine leather products with luxury brands and are willing to pay a premium for these products. Furthermore, the natural look and feel of genuine leather is highly valued by many consumers in Europe. Genuine leather is a natural material that develops a unique patina over time, giving each product a one-of-a-kind character. This uniqueness and authenticity appeal to many consumers who are looking for products that reflect their individual style and taste. In addition, the synthetic leather segment is expected to have a higher CAGR during the forecast period. Synthetic leather is generally more affordable than genuine leather, making it more accessible to a larger segment of consumers who are price-sensitive. This affordability factor is likely to increase demand for synthetic leather products, especially in the mid-market and fast fashion segments.

Footwear has the highest market share in the European leather goods market. Footwear is a necessity and a staple in most people's wardrobes, making it a highly demanded product. Europeans are known for their sense of fashion, and footwear is a crucial component of any outfit. Leather footwear is especially popular as it is durable, comfortable, and can be worn in a variety of settings. Furthermore, leather is a popular material for footwear as it is known for its durability, comfort, and breathability. Leather footwear is often perceived as high-quality and long-lasting, making it a preferred choice for many consumers, especially in the high-end and luxury segments. In addition, handbags are expected to have the highest CAGR during the forecast period. Handbags are a fashion accessory that is popular among a wide range of consumers, including men and women. Handbags are versatile and can be used for a variety of occasions, from work to leisure. In recent years, there has been a growing trend towards smaller, more compact handbags that are easier to carry, which has further increased their popularity.

Specialty stores are brick-and-mortar retailers that specialize in leather goods and related accessories, such as handbags, wallets, belts, and shoes. These stores often carry products from a variety of brands and offer a more personalized shopping experience than larger retailers. Specialty stores are typically found in urban areas or shopping malls, and they cater to a range of consumers, from budget-conscious shoppers to luxury buyers. In addition, online stores: Online stores are e-commerce platforms that sell leather goods through their website or mobile app. Online stores offer consumers the convenience of shopping from their own homes or mobile devices, and they typically offer a wider range of products and brands than brick-and-mortar retailers. Online stores may also offer personalized recommendations based on a consumer's browsing or purchase history. For instance, online stores that sells leather goods in the European market like Amazon, Zalando, ASOS, Farfetch, Luisa via Roma, Mytheresa, and more.

The increased number of working professionals and young millennials is majorly driving the leather footwear market in the United Kingdom. Furthermore, with a focus on high-quality and sustainable materials The market is dominated by a few major players, such as Burberry and Mulberry, but there are also a number of smaller and independent brands offering unique and innovative designs. The demand for luxury leather goods, such as handbags and wallets, is particularly strong in the UK market. In addition, the German leather goods industry has a strong focus on sustainability and environmental protection, with many companies using eco-friendly materials and manufacturing processes. For instance, many well-known leather goods brands, such as MCM, Montblanc, and Braun Büffel, are based in Germany. However, France is home to many prestigious leather goods schools, such as the École Nationale Supérieure des Arts Décoratifs and the Institut Français de la Mode, which train the next generation of designers and craftsmen. Furthermore, France is a popular destination for international leather goods trade fairs, such as Première Vision Leather and the Salon du Cuir et des Techniques, which attract visitors from all over the world. In addition, The French government provides support for the leather goods industry through various initiatives, including funding for research and development (R&D), as well as support for trade fairs and exhibitions.

• LVMH Métiers d'art announced major investments in two renowned Italian manufacturers, Robins and Ally Projects, in September 2022. LVMH Métiers d'art has acquired the exotic leather tannery Ally Projects and the high-end leather ready-to-wear maker Robins. This is the most recent investment in a long line of investments.
• Hermes announced the opening of new leather goods factories in France in February 2022 to meet the demand for leather Birkin bags. As products like the Birkin and Kelly bags have become more difficult to find in stores, the company intends to increase production capacity by opening new sites.
• Chanel debuted a new bag design called the CHANEL 22 Bag in January 2022. It is made of incredibly flexible yet durable leather and is intended to be functional as well as lightweight. This bag comes in three sizes: small, medium, and large.
• Anya Hindmarch, a British designer, was launching a collection of biodegradable leather bags in October 2021. After two years of research and development, the London-based brand will launch the collection in an effort to create pieces that are naturally biodegradable rather than recirculating items that were diverted from landfills in Spain.
• Hermès and Stella McCartney will release mushroom leather products in March 2021. In France, both brands use vegan, sustainable, and animal-free leather substitutes made from mycelium, the infinitely renewable underground root of fungi.

Major Companies present in the market:

Adidas AG, Nike, Inc, Puma SE, FILA Holdings Corporation, MillerKnoll Inc ( Formerly Herman Miller Inc), VF Corporation, Hermès International S.A., LVMH Moët Hennessy Louis Vuitton, Samsonite International S.A., New Balance Athletics, Inc., Prada S.p.A., Giorgio Armani S.p.A., Kering SA , Skechers Inc., Capri Holdings Limited, Tapestry, Inc., Ralph Lauren Corporation, LUCRIN Geneva, Compagnie Financière Richemont S.A.

Considered in this report

• Geography: Europe
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Europe Leather Goods market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type

• Genuine Leather goods
• Synthetic Leather goods

By Product Type

• Footwear
• Handbags
• Small Leather Goods/ Accessories
• Apparel
• Home Décor and Furnishing
• Pet Accessories
• Automotive Accessories
• Luggage & bags

By Distribution Channel

• Speciality Store
• Supermarkets and Hypermarkets
• Brand Outlets
• Online Stores
• Others (General retail, B2B, discount stores, flea markets, and specialty boutiques)

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this; the author has started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Leather Goods industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.