Leather Goods Market Size is projected to reach USD 720.8 Billion by 2030, growing at a CAGR of 6.2%: Straits Research

The Global Leather Goods Market size was valued at USD 419.5 billion in 2021 and is expected to expand at a CAGR of 6.2% from 2022 to 2030 and reach around USD 720.8 billion. With the highest revenue share, Europe has surpassed Asia as the leading region in the global leather goods market.

New York, United States, Aug. 22, 2022 (GLOBE NEWSWIRE) -- Purses, wallets, and belts, as well as footwear, handbags, and other leather goods, are included in the leather goods segment. The leather luggage and goods market are growing due to factors such as rising disposable income, increased domestic and international travel, and rising living standards. Global market players are constantly releasing new and stylish leather goods to meet changing consumer demand. Furthermore, market players' stylish and compact luggage products provide consumers with convenience and ease while traveling. Consumers are more likely to choose premium and high-quality leather products as their per capita income rises.

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Market Dynamics


Fashion Trends are changing.

Globally changing fashion trends have encouraged market players to introduce innovative and trendy products in order to meet consumer demands and maintain a loyal customer base. Furthermore, consumers prefer leather goods and luggage that are both compact and stylish. Men's accessories, such as leather bracelets, necklaces, and gloves, have become popular as fashion trends change. As a result, shifting fashion trends will help the market grow in the coming years.

Domestic and international tourism are both increasing.

The growth of various industries has been aided by an increase in domestic and international tours. People prefer leather luggage bags that are easy to handle. Extensive travel necessitates leather luggage that can withstand rough handling at any time. As a result, for more convenient travel, consumers choose premium and higher-quality leather luggage.

Report Scope

Report MetricDetails
Market SizeUSD 720.8 Billion by 2030
CAGR6.2% (2020-2030)
Historical Data2019-2020
Base Year2021
Forecast Period2022-2030
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredProduct, Distribution Channel, Region
Geographies CoveredNorth America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/VendorsAdidas AG, Nike, Inc., Puma SE, Louis Vuitton SE, Fila, Inc., New Balance Athletics, Inc., Knoll, Inc., Timberland LLC, Johnston and Murphy, Woodland, PRADA Spa, Hermès International SCA
Key Market OpportunitiesDevelopment of Fashionable Leather Goods at a Reasonable Cost
Key Market DriversLifestyle Changes Are Occurring Will Drive the Market
Living Standards are Improving

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The availability of cheaper leather goods and the shortage of leather goods worldwide.

There are some kinds of leather goods available in the market which have low costs. It will be hampering the supply and demand of good quality leather products and their price as well. However, the worldwide shortage of leather goods is driving up the price. As a result, European buyers are on the lookout for low-cost suppliers who can produce leather from exotic animals like pythons and alligators. These are the factors restraining the growth of the leather goods market.

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Evolution of budget-friendly, stylish and comfortable leather goods.

Handling goods are the most frequently purchased category, followed by belts. Handbags and wallets are still the most popular carrying products, and travel bags are the fastest-growing products in the leather goods market. As we all know, lifestyles are changing all the time, and as consumers' disposable income rises, they are becoming more interested in fashionable goods. Consumers are improving their standard of living by purchasing more fashionable and trendy goods with their disposable income. As a result, consumer preferences like these will provide market participants with an opportunity.

Segmental Insights

The leather goods segments of the market are separated by product type. Travel bags, casual bags, and business bags are divided into the leather segment, while purses, wallets & belts, handbags, footwear, and other products are divided into the leather goods segment. Men and women are divided into two categories in this market. The women's segment dominated the market, while the men's segment grew in popularity due to men's increased interest in leather products such as wallets, handbags, and footwear.

Regional Insights

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa are the four regions that make up the market.

  • The leather goods market in North America is the largest.
  • The leather goods market in Europe is the second-largest in the world.
  • The fastest-growing regional market is the Asia Pacific. Rising demand for premium and luxury goods is driving the Asia Pacific regional market, which is led by China and India.
  • With the highest revenue share, Europe has surpassed Asia as the leading region in the global leather goods market.
  • The product's growing popularity and the region's growing online sales would help the regional market growth.

Key Players

  • Adidas AG
  • Nike, Inc.
  • Puma SE
  • Louis Vuitton SE
  • Fila, Inc.
  • New Balance Athletics, Inc.
  • Knoll, Inc.
  • Timberland LLC
  • Johnston and Murphy
  • Woodland
  • PRADA Spa
  • Hermès International SCA

Market Segmentation

By Product

  • Footwear
  • Luggage
  • Accessories
  • Clothing and Apparel

By Distribution Channel

  • Store-Based Retail
    • Hypermarket and Supermarket
    • Specialty Store
    • Exclusive Store
  • Online Retail

By Region

North America

  • The U.S.
  • Canada


  • Germany
  • France
  • Italy
  • The U.K.
  • The Rest of Europe


  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Singapore
  • The Rest of APAC

Central and South America and the Caribbean

  • Brazil
  • Argentina
  • The Rest of Central and South America and the Caribbean

The Middle East and Africa

  • Saudi Arabia
  • The UAE
  • Iran
  • Kuwait
  • The Rest of MEA


1          Introduction
1.1       Market Definition
1.2       Market Scope
2          Research Methodology
2.1       Primary Research
2.2       Research Methodology
2.3       Assumptions & Exclusions
2.4       Secondary Data Sources
3          Executive Summary
4          Market Overview
4.1       Report Segmentation & Scope
4.2       Value Chain Analysis: Leather Goods Market
4.2.1   Vendor Matrix
4.3       Key Market Trends
4.3.1   Drivers
4.3.2   Restraints
4.3.3   Opportunities
4.4       Porter’s Five Forces Analysis
4.4.1   Bargaining Power of Suppliers
4.4.2   Bargaining Power of Buyers
4.4.3   Threat of Substitution
4.4.4   Threat of New Entrants
4.4.5   Competitive Rivalry
4.5       Environmental & Regulatory Landscape
4.6       Forecast Factors & Relevance of Impact
4.7       Macro-Economic & Geopolitical Scenario
4.8       Parent Market Overview
4.9       Technology Landscape
4.10    Market Share Analysis
4.11    Potential Venture Analysis
4.12    Regional Price Trends
4.13    Raw Material Trends
4.14    Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
5          Product Overview
5.1       Introduction
5.1.1   Market Size & Forecast (Value & Volume)
5.2       Footwear
5.2.1   Market Size & Forecast (Value & Volume)
5.3       Luggage
5.3.1   Market Size & Forecast (Value & Volume)
5.4       Accessories
5.4.1   Market Size & Forecast (Value & Volume)
5.5       Clothing and Apparel
5.5.1   Market Size & Forecast (Value & Volume)
5.6       Others
5.6.1   Market Size & Forecast (Value & Volume)
6          Distribution Channel Overview
6.1       Introduction
6.1.1   Market Size & Forecast (Value & Volume)
6.2       Store-Based Retail
6.2.1   Market Size & Forecast (Value & Volume)
6.2.2   Hypermarket & Supermarket            Market Size & Forecast (Value & Volume)
6.2.3   Specialty Store            Market Size & Forecast (Value & Volume)
6.2.4   Exclusive Store            Market Size & Forecast (Value & Volume)
6.3       Online Retail
6.3.1   Market Size & Forecast (Value & Volume)
7          Regional Overview
7.1      Introduction
7.1.1   Market Size & Forecast (Value & Volume)
7.2      North America
7.2.1   Economic Overview
7.2.2   Market Scenario
7.2.3   The U.S.            By Product            By Distribution Channel
7.2.4   Canada            By Product            By Distribution Channel
7.2.5   Mexico            By Product            By Distribution Channel
7.3      Central and South America and the Caribbean
7.3.1   Economic Overview
7.3.2   Market Scenario
7.3.3   Brazil            By Product            By Distribution Channel
7.3.4   Argentina            By Product            By Distribution Channel
7.3.5   Columbia            By Product            By Distribution Channel
7.3.6   The Rest of Central and South America and the Caribbean            By Product            By Distribution Channel
7.4      Europe
7.4.1   Economic Overview
7.4.2   Market Scenario
7.4.3   Germany            By Product            By Distribution Channel
7.4.4   France            By Product            By Distribution Channel
7.4.5   The U.K.            By Product            By Distribution Channel
7.4.6   Italy            By Product            By Distribution Channel
7.4.7   The Rest of Europe            By Product            By Distribution Channel
7.5      Asia-Pacific (APAC)
7.5.1   Economic Overview
7.5.2   Market Scenario
7.5.3   China            By Product            By Distribution Channel
7.5.4   Japan            By Product            By Distribution Channel
7.5.5   India            By Product            By Distribution Channel
7.5.6   Australia            By Product            By Distribution Channel
7.5.7   South Korea            By Product            By Distribution Channel
7.5.8   Rest of APAC            By Product            By Distribution Channel
7.6      The Middle East
7.6.1   Economic Overview
7.6.2   Market Scenario
7.6.3   Saudi Arabia            By Product            By Distribution Channel
7.6.4   The UAE            By Product            By Distribution Channel
7.6.5   Qatar            By Product            By Distribution Channel
7.6.6   Oman            By Product            By Distribution Channel
7.6.7   Turkey            By Product            By Distribution Channel
7.6.8   The Rest of MEA            By Product            By Distribution Channel
7.7      Africa
7.7.1   Economic Overview
7.7.2   Market Scenario
7.7.3   Nigeria            By Product            By Distribution Channel
7.7.4   South Africa            By Product            By Distribution Channel
7.7.5   The Rest of Africa            By Product            By Distribution Channel
8          Competitive Landscape — Manufacturers & Suppliers
8.1      Competition Dashboard
8.2      Industry Structure
8.3      Adidas AG
8.3.1   Business Overview
8.3.2   Financial Performance
8.3.3   Recent Developments
8.3.4   Product Portfolio
8.4      Nike, Inc.
8.4.1   Business Overview
8.4.2   Financial Performance
8.4.3   Recent Developments
8.4.4   Product Portfolio
8.5      Puma SE
8.5.1   Business Overview
8.5.2   Financial Performance
8.5.3   Recent Developments
8.5.4   Product Portfolio
8.6      Louis Vuitton SE
8.6.1   Business Overview
8.6.2   Financial Performance
8.6.3   Recent Developments
8.6.4   Product Portfolio
8.7      Fila, Inc.
8.7.1   Business Overview
8.7.2   Financial Performance
8.7.3   Recent Developments
8.7.4   Product Portfolio
8.8      New Balance Athletics, Inc.
8.8.1   Business Overview
8.8.2   Financial Performance
8.8.3   Recent Developments
8.8.4   Product Portfolio
8.9      Knoll, Inc.
8.9.1   Business Overview
8.9.2   Financial Performance
8.9.3   Recent Developments
8.9.4   Product Portfolio
8.10    Timberland LLC
8.10.1 Business Overview
8.10.2 Financial Performance
8.10.3 Recent Developments
8.10.4 Product Portfolio
8.11    Johnston & Murphy
8.11.1 Business Overview
8.11.2 Financial Performance
8.11.3 Recent Developments
8.11.4 Product Portfolio
8.12    Woodland
8.12.1 Business Overview
8.12.2 Financial Performance
8.12.3 Recent Developments
8.12.4 Product Portfolio
8.13    PRADA Spa
8.13.1 Business Overview
8.13.2 Financial Performance
8.13.3 Recent Developments
8.13.4 Product Portfolio
8.14    Hermes International SCA
8.14.1 Business Overview
8.14.2 Financial Performance
8.14.3 Recent Developments
8.14.4 Product Portfolio
9          Conclusion & Recommendation
10        Acronyms & Abbreviations

Table of Content and Figure https://straitsresearch.com/report/leather-goods-market/toc

Recent Developments

18-MAY-2022 adidas and Pharrell Williams Launch New Core Black Colorway.

12 April-2022 FILA and USTA Foundation Collaborate to Launch “Spirit of Tennis Scholarships”

05April-2022 Barneys New York and FILA Debut Limited-Edition Footwear Collection

News Media

Rising Awareness Regarding Leather Goods and Surging Spending Power Drives the Leather Goods Market

Global Leather Goods Market to Grow at a Healthy CAGR During Estimated Period

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