The leather goods market can be segmented based on type: genuine leather, synthetic leather, and vegan leather. Genuine leather holds the largest share of the market, followed by synthetic leather. Vegan leather is gaining popularity due to growing consumer awareness of animal welfare and sustainability concerns. Recent developments include: In October 2022, Dior unveiled its Cruize 2023 collection, which comprised leather accessories and products restructuring the traditional Andalusian spirit paired with latest and chic designs by Dior. , In July 2022, Nike introduced five novel sneakers, which includes the Air Force 1 Low '07' 'Fresh, Air Max 97 Coconut Milk and Black, and Air Trainer 1 'Midnight Navy, which are manufactured from various kinds of leather such as premium leather. , In April 2021, Adidas Ag declared the introduction of its new shoes, Stan Smith sneakers, which are manufactured from vegan leather. A mushroom-based material was used to produce these shoes. This new unveiling is a crucial plan of the company’s wider sustainability objectives to fulfill the surging demand for sustainable items in the market. . Key drivers for this market are: Increasing consumer awareness of fashion trends. Potential restraints include: Rising raw material costs. Notable trends are: Rising disposable income.

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Leather Goods Market Size 2024-2028

The leather goods market size is forecast to increase by USD 105.8 billion at a CAGR of 6.78% between 2023 and 2028.

The market encompasses a range of products including handbags, wallets, footwear, luggage, and furniture. Key market trends include the adoption of innovative marketing strategies and the introduction of different leather varieties. Apple's influence on the industry is notable, with consumers increasingly seeking high-quality, durable, and sustainable leather goods. 
Operational costs continue to fluctuate due to factors such as outsourcing production to countries like China and Vietnam, as well as the rising cost of raw materials like mushroom leather. Digital marketing and influencer partnerships are also driving growth In the sector. In the US market, apparel categories like handbags and sneakers are experiencing significant demand, with consumers prioritizing functionality, style, and affordability.
The use of plastic alternatives is gaining traction due to environmental concerns, but leather remains a preferred material for many consumers due to its durability and classic appeal.

What will be the Size of the Leather Goods Market During the Forecast Period?

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The market encompasses a wide range of products, including apparel, footwear, and accessories. Driven by rising living standards and evolving fashion trends, the market has experienced significant growth in recent years. Fancy leather apparel and intricately designed handbags, belts, wallets, footwear, and other accessories continue to gain popularity due to their versatility and durability. 
Leather manufacturers employ advanced automated machinery and processing techniques to create complex designs, such as digital cutting and mushroom leather, enhancing the appeal of these products. Brand awareness plays a crucial role In the market, with designers and world-renowned labels driving demand for high-quality leather goods.
The leather material is used not only for fashion items but also for saddles, furniture, and various industrial applications. The market is expected to maintain its momentum, reflecting the enduring appeal of this versatile material.

How is this Leather Goods Industry segmented and which is the largest segment?

The leather goods industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product

  Footwear
  LBWP
  Others


Distribution Channel

  Offline
  Online


Geography

  APAC

    China
    Japan


  North America

    US


  Europe

    UK
    France


  South America



  Middle East and Africa

By Product Insights

The footwear segment is estimated to witness significant growth during the forecast period.

The market encompasses a wide range of consumer products, including footwear, apparel, accessories, and leather-covered furniture. This industry is driven by factors such as rising demand for fashionable and durable leather consumer goods, as well as the versatility and luxurious appeal of genuine leather. Brands and designers continue to innovate, introducing complex designs and sustainable alternatives like synthetic type materials such as polyurethane and polyvinyl chloride. Consumers, particularly UHNWIs, seek out high-end, branded goods from companies who offer a variety of leather footwear, luggage, apparel, and accessories. Leather manufacturers utilize automated machinery and advanced processing techniques to create intricate designs and digital cutting patterns.

Despite the popularity of leather goods, there are concerns regarding the environmental impact and animal welfare issues associated with animal-based leather production. As a result, there is a growing trend towards sustainable plant-based materials like PLA corn plastic, PET, and PV-based coatings. In conclusion, the market continues to thrive due to its durability, versatility, and luxury appeal, with a focus on sustainable and ethical production methods.

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The Footwear segment was valued at USD 135.50 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 49% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in APAC is experiencing significant growth due to increasing living standards, fashion trends, and a rising consumer base. Key countries, including China, Japan, and South Korea, contr

Global Leather Goods Market Report is Segmented by Product Type (Footwear, Luggage, and Accessories), Distribution Channel (Offline and Online Retail Stores), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The Report Offers the Market Size and Forecast of Leather Goods in Value (in USD Million) for all the Above-Mentioned Segments.

The U.S. offline retail market of luxury leather goods was valued at approximately **** billion U.S. dollars in 2018. In comparison, the luxury leather goods online retail market amounted to around **** billion U.S. dollars. Bags, hand bags, shoes, and wallets are some examples of products within the luxury leather goods market.

Luxury Leather Goods Market Outlook 2032

The global luxury leather goods market size was valued at USD 18.48 Billion in 2023 and is likely to reach USD 34.15 Billion by 2032, expanding at a CAGR of 7.06 % during 2024 – 2032. The market's growth is attributed to the rising desire for premium and exclusive handbags and wallets.



Increasing desire for premium and exclusive handbags and wallets is expected to boost the global luxury leather goods market. Premium handbags and wallets are made up of high-quality luxury leather and craftsmanship, as luxury leather offers greater durability, quality, and luxurious appeal to these wallets and handbags. Therefore, rising preference for premium handbags and wallets is propelling the market. For instance,

• 
  

  According to a published report, the average online order value (AOV) of luxury handbags was approximately USD 564.5 in the second quarter of 2023, up from USD 556.8 in the previous quarter.

  
  
  
  
  

The demand for luxury leather goods is rapidly increasing among men and women, as they are highly durable, versatile, comfortable, beautiful, and luxurious. Additionally, these goods are an environmentally friendly option as compared to synthetic materials, as leather is able to break down naturally over time, and are recyclable. Moreover, luxury leather goods are symbols of power and protection, which enhances their adoption among people.



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The Leather Good and Luggage Manufacturing industry has recently experienced an upswing in revenue despite growing competition from international markets. The influx of foreign manufacturers, particularly from nations with lower production costs, has created a challenging environment for domestic producers. Still, US-based manufacturers have held their ground and expanded in some sectors, largely because of successful differentiation strategies, superior quality and a strong domestic consumer base. Industry revenue has boosted at a CAGR of 1.5% over the past five years and is expected to total $3.5 billion in 2024, when revenue will drop by an estimated 0.2%. After years of offshoring and outsourcing, some companies are considering bringing production back to the United States to avoid tariffs on imported products, rising labor prices in China and the increasingly high overhead costs associated with manufacturing abroad. Reshoring would also result in shorter turnaround times between production and sales and greater control over manufacturing operations. To combat the increased pressure from intense price-based external competition, manufacturers have increasingly specialized in manufacturing premium leather goods, which typically command higher selling prices. In addition to large companies, some niche businesses are replacing struggling manufacturers who can no longer survive. Looking towards the next five years, despite increasing foreign competition, the outlook for the industry remains positive. Demand for manufactured leather goods will remain sturdy because of a loyal domestic customer base and a growing global appreciation for American-made products. However, manufacturers must continue producing high-quality, differentiated products and explore cost-reduction strategies to keep up with foreign competition. Also, increasing efforts to boost online sales and expand globally could open new opportunities for manufacturers. Revenue is expected to hike at a CAGR of 1.1% over the five years through 2029 to $3.7 billion.

The global leather luggage and goods market is estimated at US$ 295.4 billion in 2024 and is projected to reach US$ 524 billion by 2034-end, expanding at a CAGR of 5.9%.

Report Attributes	Details
Leather Luggage and Goods Market Size (2024E)	US$ 295.4 Billion
Forecasted Market Value (2034F)	US$ 524 Billion
Global Market Growth Rate (2024 to 2034)	5.9% CAGR
North America Market Value (2034F)	US$ 124.7 Billion
East Asia Market Value (2024E)	US$ 114.9 Billion
Sales of Leather Goods (2034F)	US$ 297.1 Billion
Key Companies Profiled	American Leather, Inc. Lear Corp. VIP Industries Ltd. Timberland Woodland Knoll, Inc. Nappa Dori Johnston & Murphy VF Corp. Fila, Inc. CHIBA Louis Vuitton Coach, Inc., Christian Dior SE Aero Leather Clothing Ltd.

Country-wise Insights

Attribute	China
Market Value (2024E)	US$ 56.2 Billion
Growth Rate (2024 to 2034)	5.7% CAGR
Projected Value (2034F)	US$ 98.1 Billion

Attribute	United States
Market Value (2024E)	US$ 31 Billion
Growth Rate (2024 to 2034)	6.2% CAGR
Projected Value (2034F)	US$ 56.9 Billion

Category-wise Insights

Attribute	Leather Goods
Market Value (2024E)	US$ 164.2 Billion
Growth Rate (2024 to 2034)	6.1% CAGR
Projected Value (2034F)	US$ 297.1 Billion

Attribute	Offline Sales
Market Value (2024E)	US$ 108 Billion
Growth Rate (2024 to 2034)	6.5% CAGR
Projected Value (2034F)	US$ 204 Billion

The leather goods industry is expected to expand from its estimated value of USD 493.58 billion in 2025 to USD 904.41 billion in 2035, at a CAGR of 5.6%. Factors such as growth in demand for high-quality accessories, rising disposable income, and changing fashion demands are fueling the growth.

Metric	Value
Industry Size (2025E)	USD 493.58 billion
Industry Value (2035F)	USD 904.41 billion
CAGR (2025 to 2035)	5.6%

Country-wise Analysis of the Leather Goods Market 2025 to 2035

Countries	Estimated CAGR (2025 to 2035)
The USA	5.5%
UK	4.8%
France	4.5%
Germany	4.3%
Italy	4.0%
South Korea	6.0%
Japan	3.8%
China	7.5%
Australia	5.0%
New Zealand	4.5%

Competitive Outlook

Company Name	Estimated Market Share (%)
Adidas AG	15%
Nike, Inc.	14%
Hermès International S.A.	12%
Louis Vuitton Malletier	11%
Puma SE	10%
Other Companies	38%

This statistic shows the market value of the leather goods market worldwide from 2016 to 2021. In 2016, the global market value of leather goods was worth approximately ****** billion U.S. dollars.

USA leather goods market is projected to reach a market size of above USD 106 Billion by 2028, due to increase in fashion trends

Luxury Leather Goods Market size is expected to be worth around USD 167.2 Billion by 2033, from USD 97.60 Billion in 2023, at a CAGR of 5.5%.

Unlock data-backed intelligence on the USA Leather Goods Market, size at USD 50 billion in 2023, featuring key players, growth potential, and market dynamics.

Market Size statistics on the Leather Good & Luggage Manufacturing industry in the US

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The leather goods market industry report identifies increased spend on personal goods as one of the primary drivers propelling the growth of the market. This driver is expected to create several growth opportunities and entice market vendors to make significant investments.

The leather goods market report also provides several other key information including:

CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will drive leather goods market growth during the next five years
Precise estimation of the leather goods market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the leather goods market industry across APAC, North America, Europe, South America, and MEA
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of leather goods market vendors

Table of Contents

• Leather Goods Market Scope:

The report on Leather Goods Market offers in-depth analysis on market trends, drivers, restraints, opportunities etc. Along with qualitative information, this report include the quantitative analysis of various segments in terms of market share, growth, opportunity analysis, market value, etc. for the forecast years. The global leather goods market is segmented on the basis of type, application, and geography.

The global Leather Goods market was valued at US$ XX.X Mn in 2018 and is projected to increase significantly at a CAGR of x.x% from 2019 to 2028. Read More

The global revenue in the 'Luxury Leather Goods' segment of the luxury goods market was forecast to continuously increase between 2024 and 2029 by in total 18.4 billion U.S. dollars (+25.46 percent). After the ninth consecutive increasing year, the revenue is estimated to reach 90.8 billion U.S. dollars and therefore a new peak in 2029. Find more in-depth information regarding the revenue concerning the luxury jewelry segment of the luxury goods market in China and the average revenue per user (ARPU) concerning the prestige cosmetics segment of the luxury goods market worldwide. The Statista Market Insights cover a broad range of additional markets.

Snapshot img { margin: 10px !important; } The global leather goods market has the potential to grow by USD 72.36 billion during 2019-2023. The growth momentum will accelerate throughout the forecast period, and the market will grow at a CAGR of over 5%.

The growing demand for luxury handbags made of eco-friendly materials and the increased spending on personal goods are some of the major factors driving market growth. The US, China, and Japan are currently significant markets for leather goods.

Leather Goods Market Report - Key Insights

Scope of this Report

The report provides a detailed analysis of the market by distribution channel, product, and geography. Also, the report analyzes the market’s competitive landscape and offers information on several market vendors.

Browse TOC and LoE with selected illustrations and example pages from leather goods market report

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Market Segmentation

Leather Goods Market by Distribution channel

Offline
Online

Leather Goods Market by Product

Footwear
Luggage, bags, wallets, and purses
Others

Leather Goods Market by Region

APAC
Europe
North America
South America
MEA

Market Competitive Analysis

The leather goods market is fragmented, and the degree of fragmentation will increase during the forecast period. To enhance their customer base, vendors are adopting various marketing strategies, including celebrity endorsements. Moreover, vendors are also focusing on providing a personalizes shopping experience to customers and are adopting AI and AR technologies. Adidas AG, Capri Holdings Ltd., and Compagnie Financière Richemont SA are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the fluctuating operational costs will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The report provides information on the production, sustainability, and prospects of several companies, including:

adidas AG
Capri Holdings Ltd.
Compagnie Financière Richemont SA
Hermès
Kering SA
LVMH Moët Hennessy - Louis Vuitton
Nike Inc.
PRADA Spa
Tapestry Inc.
VF Corp.

Leather Goods Market: Key Drivers and Trends

With the growing fashion consciousness, there is an increasing customer spending on personal goods. The evolving lifestyle and the penetration of smartphones have increased customer awareness about the availability of unique leather goods designs. The growing number of working women and their increasing spending power are driving the demand for personal goods like footwear and handbags, especially in the luxury segment.

As a result, vendors in the personal goods industry are focusing on offering a wide assortment of products in different styles, designs, and colors. Fashion designers are also concentrating on introducing trending designs, particularly in the luxury goods segments. Such factors, coupled with the popularity of online shopping platforms, will increase the demand for leather goods over the next few years.

Leather goods market trends, such as the increase in demand for luxury handbags made of eco-friendly materials, will also influence market growth.
There is a growing importance of using eco-friendly materials for luxury handbags, especially in countries such as China, US, and Japan.
To cater to the growing demand, companies are phasing out harmful PVC from their products to raise the demand and supply of organic leather goods.
For instance, one of the critical companies Kering SA has already started using eco-friendly and organic leather for its finished products.
Such factors will drive leather goods market growth at a CAGR of over 5% during 2019-2023.

Leather Goods Market: Segmentation by Region

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APAC is one of the significant markets for leather goods. The rising fashion awareness among consumers and the increasing demand for unique designs in luxury handbags are driving market growth in the region. The increase in spending by millennials on personal luxury leather goods and the economic growth in the region will also fuel the growth of the market.

During the forecast period, over 39% of the overall market growth will originate from APAC, and market growth in this region will be faster than the growth of the market in other regions.

Leather Goods Market: Segmentation by Distribution Channel

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The offline segment includes specialty stores such as exclusive brand stores; apparel stores; and -

Luggage And Leather Goods Market size is estimated to be valued at US$ 496.03 Bn in 2025 and is expected to expand CAGR of 5.3% reaching US$ 712.04 Bn by 2032

The U.S. leather goods & luggage market was USD 52.2 billion in 2024 and will hit USD 85.4 billion by 2032, growing at a CAGR of 6.5% during 2025-2032.

North America Leather Goods comes with extensive industry analysis of development components, patterns, flows, and sizes. The report calculates present and past market values to forecast potential market management during the forecast period between 2025 - 2033.