Luxury Leather Goods Market Current Analysis and Forecast (2021-2027)
Emphasis on Product (Footwear, Bag, Accessories, and Other); Grade-Type (High-Grade, Mid-Grade, and Low-Grade); Distribution Channel (Offline Retail Store and Online Retail Store); Application (Men and Women); and Region and Country
Global Luxury leather goods are expected to grow at a CAGR of around 5% during the forecast period (2021-2027). The luxury leather goods market is growing at an influential rate in past years and is expected to follow the same growth trend in the forecasted period as well. It is mainly owing to the rising consumer demand for the luxury product owing to the surging disposable income, the standard of living, and rise in the number of brand obsessed people are driving the market.
Major factors that are expected to boost the growth of the luxury leather goods market in the forecast period are the rise in the demand for purses, wallets, jackets, footwear, belts, and increasing alternative fashion accessories among men and women. Moreover, consumers are more inclined toward aesthetic factors, and the demand for premium range goods as a fashion statement has increased. Europe-based companies, such as Gucci, Gianni Versace, and Louis Vuitton, are the key players involved in manufacturing leather-based accessories.
Luxury leather goods Product 2020
Some of the major players operating in the market are Prada Group, CHANEL, Burberry, Hugo Boss, Natuzzi, Michael Kors, Dior, Hermes, Tory Burch, Kate Spade. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst products, footwear segment holds the major share”
Based on product, the luxury leather goods market is segmented into footwear, bag, accessories, and others. The footwear segment catered to significant demand in the luxury leather goods market. Leather shoes are popular among both genders for their status symbol and demand in a formal outfits. It is not only used in casual dresses but also for formal attire.
“Amongst grade-type, high-grade segment holds the major share”
Based on grade type, the luxury leather goods market is bifurcated into high-grade, mid-grade, low-grade. The high-grade segment holds a considerable market share in the luxury leather goods market. High-grade leather is considered the top layer of the hide, including the full thickness of the skin, and is not sanded or buffed to remove natural marks or imperfections. All the grain remains in full-grain leather, which allows fiber strength, durability, and breathability.
“Europe represents one of the extensive market shares of global luxury leather goods Market”
For a better understanding of the market adoption of luxury leather goods, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), and Rest of World. Europe holds an extensive market share owing to the strong presence of local and international players, product and technological innovations, rise in online retailing, and the use of social media platforms are some of the major factors driving the growth of the European market.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global luxury leather goods market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global luxury leather goods market were the three major steps undertaken to create and analyze the adoption of luxury leather goods in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global luxury leather goods market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Seek More Details About Research Methodology
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of luxury leather goods market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the luxury leather goods market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product, grade type, distribution channel, application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Luxury leather goods market. Further, we conducted factor analysis using dependent and independent variables such rising demand for luxury products and increasing disposable income. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Luxury leather goods market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global luxury leather goods market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of luxury leather goods market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global luxury leather goods market in terms of category offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global Luxury leather goods market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, grade-type, distribution channel, application in the global luxury leather goods market.
The main objective of the Global Luxury leather goods Market Study
The current & future market trends of global Luxury leather goods market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Luxury leather goods market in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product, grade-type, distribution channel, application.
- Define and analysis of the regulatory framework for the luxury leather goods market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the luxury leather goods market for the major region.
- Major regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the luxury leather goods market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry
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