Rising requirement for water-resistant luggage goods has directed towards an expansion in the requirement of leather amid the luggage makers. A rise in local as well as global visits has encouraged the development of the leather luggage and goods market. Individuals are picking simple to-deal with leather luggage bags. Frequent travelling requires leather luggage which can withstand harsh handling anytime. Thus, customers settle for better quality and premium leather luggage for favorable travelling.
The worldwide market for leather luggage and goods is considered to record a sluggish CAGR over the projection period 2017-2022. The overall market is also predicted to account for a market valuation of about US$ 525 Billion in revenue terms through the end of the forecast year 2022.
On the basis of product type, the overall market is categorized into wallets & belts accessories, business bags, casual bags, travel bags, gloves accessories, footwear accessories, neckpieces accessories leather bracelets accessories and purses. The travel bags are projected to grow steadily in terms of revenue by accounting for approximately US$ 35000 Million through 2022 end. The casual bags category is also likely to be a productive market as a result of growing demand for everyday travelling bags which has been causing makers to make furthermore casual bags. This category in comparison to other product types is considered to register the second highest expansion throughout the estimated period of 2017-2022.
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The major end users of these leather goods and luggage are unisex, women and men. The women category is projected to expand at a steady growth pace moreover is expected to account for close to US$ 66000 Million in terms of revenue in the worldwide market. Though, among men, the leather goods for example jackets, wallets also footwear are expected to expand steadily as a result of the increasing demand in the international market.
The leather luggage and goods are distributed by way of online stores, retail stores along with other channels. The sales of these goods via online stores channels are expected to exhibit a remarkable CAGR over the projection period 2017- 2022. Nevertheless, the retail store channel is considered to witness a high growth by more than US$ 95000 Million in terms of revenue over the conjecture time frame 2017-2022.
The market is analyzed across the six major regions, namely, APEJ, Japan, Europe, North America, Latin America and MEA. Among other regions, North America is expected to be the most lucrative region worldwide.
Key Market Players
The prominent players at present functional in the overall leather luggage and goods market include
- Christian Dior SE
- Knoll, Inc.
- LVMH Moët Hennessy
- Aero Leather Clothing Ltd.
- American Leather, Inc.
- Christian Dior SE
- Delsey S.A
- Prada S.p.A
- Johnston & Murphy
- VIP Industries Ltd.
- Louis Vuitton SE
- Hermes International SA
- Samsonite International S.A.