Luxury Leather Goods Industry

The global luxury leather goods market size is projected to reach usd 49550 million by 2026 from usd 42600 million in 2020 at a cagr of 2 6 during 2021 2026.

Luxury leather goods industry.

Europe luxury leather goods market is expected to project a healthy cagr of 3 8 in the forecast period of 2018 to 2025. Increase in demand for luxury handbags made of eco friendly materials the growing demand for leather goods has increased the use of tanning agents for leather and the. The luxury leather goods in canada market research report includes. Rising demand for attractive leather products as a symbol for status as well as the inclination of luxury consumers towards various international brands is driving the demand for luxury leather products.

The worldwide revenue of us 48 billion in 2019 is expected to increase to us 64 billion by 2025. Luxury leather goods cover handbags suitcases and briefcases as well as small leather goods such as wallets. The luxury leather goods offers a wide range of applications in leathers shoes belts wallets jackets and handbags. Global luxury leather goods scope and market size.

Analysis of key supply side and demand trends. The global luxury leather goods market size was valued at usd 48 0 billion in 2018 and is expected to expand at a healthy cagr over the forecast period. Detailed segmentation of international and local products. In addition leather accessories are not just limited to a general need.

Luxury leather goods market is segmented by region country players by type and by application. Luxury leather goods continued to see a strong performance in 2019 witnessing the second highest current value growth within personal luxury. The segment luxury leather goods accounted for 15 of the luxury goods revenue in 2019. The category continued to benefit from a rise in both local and international purchases although international purchases saw higher growth as the number of tourists visiting the country continued to increase.

The consumers are more inclined toward aesthetic factors and demand premium range goods as a fashion statement. Europe based companies such as gucci gianni versace and louis vuitton are the key players involved in the manufacturing of leather based luxury goods.