Europe Leather Goods Market is Expanding at a CAGR of 6.8% from 2023 to 2030
The Europe Leather Goods market is expected to gain significant growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyzes that the market is growing with a CAGR of 6.8% in the forecast period of 2023 to 2030 and is expected to reach USD 235,552.22 million by Europe Leather Goods Market
The quickly growing fashion sector, which has significantly raised consumer demand for high-quality, premium, and luxury leather goods, is the main driver of market expansion. Customers choose high-end items to make a fashion statement and respect aesthetics.
Opportunities in the worldwide market for Europe Leather Goods are anticipated to arise from increased innovation in the form of new features and designs as well as the use of bio-based leather. However, the absence of expertise, technology, intermediate inputs, and processing machinery as well as growing public awareness of the negative impacts of unethical production methods for European leather goods are expected to impede market expansion.
The global Europe Leather Goods market report provides details of market share, new developments, and the impact of domestic and localized market players, analyzes opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market.
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Some of the prominent participants operating in the global Europe Leather Goods market are:
- TBL Licensing LLC (A Subsidiary of VF Corporation),
- CAPRI HOLDINGS LIMITED, Hermès,
- KERING, PRADA S.P.A., Kiton,
- Woodland Leathers, American Leather,
- JOHNSTON & MURPHY (A Subsidiary of Genesco),
- NAPPA DORI among others.
Global Europe Leather Goods Market Dynamics
Drivers
Increase in the demand for premium and high-quality luxury leather products
The rapidly expanding fashion industry has greatly increased consumer demand for high-quality, premium, and luxury leather products. Customers value aesthetics and seek high-end products to create a fashion statement.
Moreover, an increasing number of High-Net-Worth Individuals (HNWIs), coupled with the growing trend of designer and branded clothes in major markets, such as the U.S., France, and China, is boosting the demand for luxury leather products. Europe Leather Goods are exclusive and often premium priced.
Low-cost and heavy-duty construction of synthetic leather products
Synthetic leather, which is also known as Faux leather, is cheaper than real leather, animal-friendly, can be produced in virtually every color, can be manufactured to feature a high gloss finish, can be easily cleaned with a damp cloth, requires little maintenance, does not crack as easy as real leather, is UV fade resistant and does not have the real leather smell, which is expected to draw its demand in the forecast period. Faux Leather is a man-made product and is very durable.
These days Faux Leather is usually stronger than real leather. Artificial leather such as pleather, Naugahyde, vegan leather, barkcloth, cork, glazed cotton, and recycled PET polyester is available in the market. Pleather is commonly used to make artificial leather clothing. It is made from plastic and is less costly and lighter than genuine leather. Products made from pleather are available in a variety of colors. Another material used for leather is Naugahyde which looks similar to animal skin. All these factors and advantages offered by synthetic leather are expected to drive market growth.
The rise in the demand for comfortable, trendy, fancy leather apparel, footwear, and accessories
Europe Leather Goods come in various products like gloves, bags, footwear, watches, furniture, and many others. The increase in the demand for leather in the production of clothing is one of the major driving factors that may positively affect the market growth. Moreover, the special characteristics of leather, such as the fireproof, dustproof, and crack-proof nature and durability of Europe Leather Goods, are often preferred over other resources and materials, which has helped increase the demand and sales of the market.
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pportunities
Increase in innovation in Europe Leather Goods with new features and designs
Consumer behavior has changed substantially over the past decade. As the old technologies have been exploited more, especially in developing and marketing fashion products, companies are getting new possibilities for fulfilling customer needs with product varieties. The development of new surface finishes and embellishments with viable techniques is needed to develop innovative products and add uniqueness and value to the products.
With the fast evolution and changing lifestyle daily, and rising disposable income, consumers are more inclined toward fashionable products. Consumers are improving their living standards based on their disposable income and are consuming more fashionable products. So these kinds of consumer inclinations will create an opportunity for the market players operating in the market.
Global Europe Leather Goods Market Scope
Leather Type
- Full Grain Leather
- Split Grain Leather
- Faux Leather
- Bonded Leather
- Top Grain Leather
Product
- Footwear
- Handbags
- Apparel
- Others
Grade
- High-Grade
- Mid-Grade
Distribution Channel
- Specialty Stores
- Company Franchised Stores
- E-Commerce
- Supermarkets/Hypermarkets
- Others
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