The North America Leather Goods Market refers to the industry that produces and sells a variety of leather products such as bags, wallets, belts, footwear, and other accessories in the North American region. The market is influenced by factors such as consumer demand, fashion trends, and material costs, and is served by both large and small manufacturers and retailers. It is a significant market within the global leather goods industry and is expected to continue to grow in the coming years.
Increasing innovation in North America Leather Goods with new features and designs and introducing bio-based leather are expected to provide opportunities in the global North America Leather Goods market. However, rising awareness regarding the detrimental effects of unethical practices in producing North America Leather Goods and lack of skills, technology, intermediate inputs, and processing equipment is projected to challenge the market growth.
The global North America 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.
The North America 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 6.6% in the forecast period of 2023 to 2030 and is expected to reach USD 213,227.84 million by 2030. The major factor driving the market growth is the rapidly expanding fashion industry that has greatly increased consumer demand for high-quality, premium, and luxury leather products.
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Competitive Landscape and Global North America Leather Goods Market Share Analysis
Some of the prominent participants operating in the global North America 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 North America 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.
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.
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pportunities
Increase in innovation in North America 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.
Global North America 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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