Leather Goods Market Summary
As per Market Research Future Analysis, the Global Leather Goods Market was valued at USD 214.7 billion in 2021 and is projected to reach USD 390.9 billion by 2030, growing at a CAGR of 6.68% from 2022 to 2030. The market is driven by increasing demand for luxury goods, changing consumer attitudes, and the growth of e-commerce. The Asia-Pacific region accounted for the largest market share at 38.5% in 2021, with a CAGR of 7.16%. North America follows as the second-largest market, expected to grow at a CAGR of 6.80%. The footwear segment dominated the market in 2021, while store-based distribution channels held the majority share.
Key Market Trends & Highlights
Key trends driving the leather goods market include the rise in luxury demand and e-commerce growth.
- Luxury goods demand is increasing, contributing to market growth.
- Asia-Pacific held 38.5% market share in 2021, with a 7.16% CAGR.
- North America is expected to grow at a CAGR of 6.80% from 2022 to 2030.
- Footwear segment held the majority share in 2021.
Market Size & Forecast
2021 Market Size | USD 214.7 Billion |
2030 Market Size | USD 390.9 Billion |
CAGR from 2022 to 2030 | 6.68% |
Major Players
Key companies include Kering SA, Hermes, Samsonite, Tapestry Inc., Adidas, Prada, LVMH, Capri Holdings Limited, Nike Inc., and Fila Inc.