Leather and Allied Products Market Size, Share, Growth, and Industry Analysis, By Type (Top-grain Leather, Split Leather, Patent Leather, & Others), By Application (Automotive, Furniture, Clothing & Accessories, & Others) and Regional Forecast to 2032

LEATHER AND ALLIED PRODUCTS MARKET REPORT OVERVIEW

The global Leather and Allied Products Market Size was USD 483701.7 million in 2024 and the market is projected to touch USD 881641.2 million by 2032, exhibiting a CAGR of 8.8% during the forecast period.

Leather and allied products are manufacturing businesses for various products. They transform rawhides into leather by using tanning or curing methods. Then produce ultimate products with the processed leather. The steps involved are cleaning, soaking, and stretching. This final leather is used for production of apparel, footwear, and other leather goods.

Increasing popularity through social media influencers is encouraging market expansion. Online selling proposal is opening avenues to increase sales by developing innovative products and increasing market reach.

COVID-19 Impact: Market Growth Hampered by Pandemic due to Supply Chain Disruption

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Supply chain disruption and lockdown people are restricted from going outside and constrained on traveling. The production units were closed which has declined demand significantly. Customers reduced their spending on unnecessary products such as upholstery and fashionable accessories. However, the pandemic has increased demand for products of leather and other accessories.  Online shopping has increased demand for products and supported market growth.

LATEST TRENDS

"Incorporation of Vegan Leather Enhances Market Expansion"

Current trend in the market which is propelling the market growth is the incorporation of vegan leather. Vegan leather extracted from plants which include cacti, pineapple leaves, apple scrapes, mycelium, and others. Vegan products are becoming famous and increasing demand from customers. It is also helpful to save animals and acts as a replacement.

LEATHER AND ALLIED PRODUCTS MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Top-grain Leather, Split Leather, Patent Leather, & Others

• Top-grain Leather: Top-grain is special quality leather and offers durability and has natural appearance and it is used in quality products such as luxury accessories and furniture.
• Split Leather: Split leather is created from lower layers of the hide and is used in upholstery, accessories, and apparel.
• Patent Leather: Patent leather is sleek and coated with a glossy finish and it is utilized in production of formal shoes, handbags and other.
• Others: There are other types of leather such as embossed, bonded, exotic, and other and they are used in various applications.

By Application

Based on application the market can be categorized into Automotive, Furniture, Clothing & Accessories, & Others

• Automotive: Automotive sector related to vehicles and their components that incorporate design, sales, and manufacturing.
• Furniture: Furniture segment which covers residential, commercial, and institutional furnishing handles items such as chairs, sofas, tables, and storage units.
• Clothing & Accessories: Clothing and accessories covers retail segments including apparel, jewelry, footwear, handbags, and other personal ornaments.
• Others: There are many other types of segments covering a wide range of products and services.

DRIVING FACTORS

"Growing Demand for Footwear Impels Market Expansion"

One of the attributes for the Leather and Allied Products Market Growth due to increasing demand for footwear is enhancing the market expansion. Leather is vastly used for manufacturing footwear because of its properties such as enduring material, comfortable, and stylized look. Furthermore, increasing demand for fashion and interior designing products are propelling the market growth. Manufacturers are producing unique and a variety of clothing, furniture and other items are encouraging demand for leather and hence, supporting market expansion.

"Rising Demand for e-Commerce Shopping Propels Market Advancement"

Another growing factor that is propelling the market growth is increasing demand for online shopping globally. It is a convenient way of purchasing goods. Easy to order and search for varieties of products, and smooth product delivery are attracting customers. Manufacturers are able to cater large numbers of customers and able to sell their product on a larger platform are encouraging market growth.  Social media and e-commerce platforms are promoting products and increasing sales are encouraging market expansion.

RESTRAINING FACTOR

"Rising Environmental Concerns and High Labor Cost Impede Market Growth"

Limiting factors for the market growth which are hindering their progress includes rising concern of the environment and increasing labor cost. The leather manufacturing process generates environmental pollution in the process of tanning. Increasing awareness about environmental issues in the public has decreased demand for products made of leather material. This factor is hindering the market growth significantly. Rising labor cost due to the various steps involved in leather manufacturing as well as inclusion of various chemicals increases the price of leathers. Presence of counterfeit products which hampers the original products visibility is hampering the market progress.

LEATHER AND ALLIED PRODUCTS MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"Asia Pacific Dominates the Market due to Improving Purchasing Power"

The Asia Pacific region is dominating the Leather and Allied Products Market Share due to the improvement in purchasing power of the population. Rising awareness about branded and originals products and increasing reach of international and premium products are encouraging the market growth. Increasing fashion industry and organization of fashion events are enhancing the market expansion. China, India, and Bangladesh are major contributors to increase market share. Additionally, urbanization of developing countries and growing manufacturing units are boosting market expansion.

KEY INDUSTRY PLAYERS

"Key Players Transforming the Leather and Allied Products Landscape through Product Innovation and Strategy Partnership"

Many prominent industry players are operating in this market focused on expanding the market through product innovation. There are many companies in the market that use some techniques such as merger, acquisitions, partnership and using new advanced technologies for producing and developing new products and stay ahead in the market.

List of Market Players Profiled

• Nike (U.S.)
• Gap (U.S.)
• Christian Dior (France)
• Adidas (Germany)
• Ralph Lauren (U.S.)
• Kering (France)
• Levis (U.S.)
• Prada (Italy)
• Michael Kors (U.S.)
• Asics (Japan)

INDUSTRIAL DEVELOPMENT

September 2024: ECCO launched a novel product ‘ECCO Leather Goods’. These products include an ECCO bag and accessory that furnish ultramodern and sustainably created leather goods.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global leather and allied products market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.