Luggage and leather goods are products that are produced from animal skins such as sheep, bovine, and goat skins. Leather goods composed of footwear, purses, wallets & belts, handbags, and other leather goods
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Luggage and leather goods market ppt
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2. LUGGAGE AND LEATHER GOODS
MARKET ANALYSIS
• Luggage and Leather Goods Market, By Product Type (Leather Goods
(Footwear, Clothing and Apparel, Clutches and Wallets, Upholstery
(Furniture and Automotive), Leather Accessories, Others), Luggage (Rolling
Luggage, Duffle Bags, Suitcases and Briefcases, Backpacks, Totes and Hand-
luggage, Others)), By Sales Channel (General Retailers, Single Brand Stores,
Specialty and Multi-brand stores, Unorganized small stores, Online, Others),
and By Region (North America, Europe, Asia Pacific, Latin America, Middle
East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
3. Luggage and Leather Goods Market 2017–2027
Luggage and leather goods are produced from leather which is made up of animal skin.
These products are highly durable and offer aesthetic look to the products. Leather goods
includes footwear, clutches and wallets, clothing, and apparel, upholstery (furniture
and automotive), and leather accessories. Luggage leather includes, duffle bags, rolling
luggage, backpacks, suitcases and briefcases, and totes and hand-luggage. Moreover,
leather is elegant that adds quality to the style as these products can be carried
anywhere. Moreover, leather is natural and it never goes out of fashion, apart from fashion
leather is highly resistant to harsh weather conditions as it does not peel off or crack easily
which increases durability.
The global luggage and leather good market is projected to reach around US$ 418.5 billion
by the end of 2027, in terms of revenue, growing at CAGR of 5.2% during the forecast period
(2019-2027).
4. Drivers
Increasing demand for leather products due to its durable nature is expected to boost the
market growth of luggage and leather goods. According to the Council for Leather Exports,
the export of footwear, leather and leather products from India reached a value of US$ 5.69
billion during 2018-19. India is the second-largest producer of footwear in the world,
producing about 2.41 billion pairs (2017). This is expected to fuel market growth.
The growing production of leather products is projected to foster market growth over the
forecast period. According to the Colourlock, in 2017 Mexico (28%), China and Italy (14%),
Austria (8%) a Germany, South Korea, South Africa and the United Kingdom (4%) produced
the highest share of finished leather items. Therefore, the rising production of leather
products is projected to accelerate the market growth.
On the basis of the region, Europe dominated the global luggage and leather good market
in 2018, accounting for 33.1% share in terms of value, followed by North America and Asia
Pacific.
5. Figure 1. Global Luggage and Leather Good Market, Revenue Share (%), By
Region, 2018
6. Market Restraints
The threat of substitutes such as counterfeit products, especially handbags, which are
available at a cheaper rate is expected to hinder the market growth. Growing usage of rexine
product instead of pure leather is another major factor adversely affecting the quality of
the leather products. This is expected to restrict the adoption of leather product which in turn
hindering the market growth.
Weak distribution network across Sri Lanka, Brazil and others are expected to hamper the
market growth of luggage and leather goods. Moreover, leather goods are comparatively
more expensive than conventional products which are expected to hamper the market
growth of luggage and leather goods over the forecast timeframe.
7. Market Restraints
The threat of substitutes such as counterfeit products, especially handbags, which are
available at a cheaper rate is expected to hinder the market growth. Growing usage of
rexine product instead of pure leather is another major factor adversely affecting the
quality of the leather products. This is expected to restrict the adoption of leather product
which in turn hindering the market growth.
Weak distribution network across Sri Lanka, Brazil and others are expected to hamper the
market growth of luggage and leather goods. Moreover, leather goods are comparatively
more expensive than conventional products which are expected to hamper the market
growth of luggage and leather goods over the forecast timeframe.
8. Figure 2. Global Luggage and Leather Good Market– Opportunity Analysis
9. Market Trends
The growing manufacturer is focusing on producing men accessories such as leather
bracelets, neckpieces, gloves, and man purses are expected to foster the market growth of
luggage and leather goods. Evolving fashion trends around the globe are promoting the
market players to introduced innovative, stylish, compact, and trendy products for men as
well as women. Evolving fashion is projected to augment market growth.
Growing demand for leather products from military sectors is expected to foster the market
growth of luggage and leather goods. Various products such as harness, belts, holsters,
saddles, and footwear which are used in the military are expected to accelerate the marker
growth of luggage and leather goods. Hence, growing demand for the leather product from
the military sector will favor the market growth.
10. Figure 3. Global Luggage and Leather Good Market, Revenue Share (%), By
Product Type, in 2018
On the basis of product type in 2018, leather goods segment has accounted the largest
market share of 91.6% in terms of value, followed by luggage.
11. Figure 4. Global Luggage and Leather Good Market– Value Chain Analysis
12. Competitive Section:
Key players operating in the global luggage and leather goods market are Knoll, Inc.,
American Leather, Inc., Aero Leather Clothing Ltd., Samsonite International S.A., VIP
Industries Ltd., LVMH Moët Hennessy Louis Vuitton SE, Timberland, Johnston & Murphy,
Woodland, and Hermes International SA
Few Recent Developments
American Leather, Inc.
Key Developments:
•In October 2016, the company launched an accent chair & ottoman collection with antique
brass and polished nickel finishing in order to offer its consumers eye-catching furniture with
unique design aesthetics.
•In October 2016, the company launched a collection of exquisite specialty leathers with
compelling textures and trendy colors in order to expand it alluring product portfolio.
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Reference: https://www.coherentmarketinsights.com/market-
insight/luggage-and-leather-goods-market-3707
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