The global leather goods industry size stood at USD 468.49 billion in 2023. The industry is anticipated to expand to USD 738.61 billion by 2030, exhibiting a CAGR of 6.7% over the estimated period. The surge can be attributed to various types of leather such as synthetic and full-grain leather.
This information is provided by Fortune Business Insights™ in its research report, titled “Leather Goods Industry, 2024-2032”.
Top Companies Covered in the Leather Goods Industry
Information Source: https://www.fortunebusinessinsights.com/leather-goods-market-104405****
Segments:
Synthetic Leather to Gain Traction Owing to Increasing Costs
On the basis of source, the industry is subdivided into synthetic leather and full-grain leather. The synthetic leather segment is expected to register commendable expansion over the forecast period. The rise can be credited to the rising product demand in the footwear and apparel industry.
Footwear Segment to Record Substantial Growth Driven by Prevalence of Durable Footwear
Based on product, the industry for leather goods is segmented into luggage, apparel, footwear, and others. Of these, the footwear segment is slated to register appreciable growth throughout the estimated period. The surge can be attributed to the escalating demand for durable footwear.
Men Segment to Register Commendable Growth Due to Surging Demand for Luxury Footwear