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iCrowdNewswire Jan 15, 2021 3:00 AM ET

Leather Care Products Market By Production, Manufacturer, Growth, Supply, Demand, SWOT Analysis Forecast To 2025

iCrowd Newswire - Jan 15, 2021

Leather Care Products Market – 2019-2025

Report Description:

The global leather goods market size was valued at USD 414.0 billion in 2017 and is anticipated to progress at a CAGR of 5.4% in the coming years. The market growth is mainly driven by growing disposable income, improved living standards, changing fashion trends, and growing domestic and international tourism. Rising demand for comfortable, trendy, and fancy footwear along with growing brand awareness is expected to have a positive impact on the footwear market.

A growing number of working individuals and resultant rise in the disposable income levels will also boost the market growth in the years to come. In the footwear segment, sneakers sales have grown the most due to the increasing demand for comfortable and trendy footwear. There is intense competition in the sneaker segment as high-end fashion brands, such as Balenciaga, Gucci, and Prada are entering the market and are up against well-established athletic brands, such as Nike and Puma.

E-commerce retail channels play a very important role in the leather goods market. A significant portion of revenue is generated through this channel and is contributing more each year. Online sales channels make it easy for consumers to browse through billions of products at once without having to physically visit retail stores. The trend of online customizations is being driven by millennials since such products are unique. In addition, few websites allow customers to add their own prints on the shoe.

This trend is further expected to fuel e-commerce retail channels. Moreover, rising usage of the internet in various emerging regions, such as Asia Pacific, will drive the segment growth. All these factors together will have a positive impact on the demand for leather goods in Asia. However, the adverse effects associated with the use of Polyvinyl Chloride (PVC) and Polyurethane (PU) in synthetic leather production is expected to constrain the market growth to certain extent.

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The following manufacturers are covered:
Leather Honey
Armor All
Agar Cleaning Systems

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Segment by Regions
North America
Southeast Asia

Segment by Type
Leather Care Liniment
Leather Cleaner
Water Protectant

Segment by Application
Car Interior
Household Leather

Distribution Channel Insights

E-commerce held a significant market share in 2017 and is expected to emerge as the fastest-growing distribution channel segment over the forecast period. Ascending a number of internet users across the globe is likely to propel the segment growth. In addition, trend of online shopping is on the rise on account of the ease of accessibility offered by these websites, which will drive the segment further.

All the major companies in the market offer their products online, either through their own websites or on other online retail stores. Retail stores can be of various types and can be set up in different locations, such as strip shopping centers, indoor shopping malls, and commercial and residential areas. Consumers usually prefer shopping from retail stores due to better consumer-product interaction. This will impel the segment growth over the next few years.

Material Insights

Genuine leather was estimated as the largest material segment in 2017. This segment includes leather obtained from hides of animals, such as goats, pigs, calves, and cows. However, it has adverse effects on the environment. For instance, a majority of the leather produced in U.S. is chrome-tanned. This results in the generation of waste with chromium content and is thus considered hazardous by the EPA. Thus, various types of footwear products, such as slippers, casual sneakers, army boots, and sports shoes are usually made using textiles and tropical fibers. Rising popularity of sports leisure or athleisure trend has resulted in companies introducing innovative products that suit customer requirements.

The sales of running-inspired and casual athletic sneakers have been on the rise owing to changing fashion trends. On the other hand, the ongoing trend of clear shoes is expected to fuel the demand for plastic in shoe manufacturing. Rubber shoes, such as crocs, are also considered to be trendy and comfortable and are coming back in style, thereby competing with sneakers category. Following the trend, high-end fashion houses are coming up with designer shoes of their own. For instance, high-fashion brand Balenciaga released their own version of crocs, which was priced at USD 850.

Product Insights

On the basis of product, the market has been categorized into footwear, leather goods, and others. Increasing popularity of casual shoes, such as sneakers, owing to the comfort and support offered by them will boost the footwear segment. Currently, the demand for casual shoes is huge as this product category offers a wide range of footwear with a variety of designs and colors to choose from.

Regional Insights

The U.S. represents the largest market in North America and is expected to dominate the regional market over the forecast period. Growing consumer spending in the country is expected to be the major factor in driving product demand. Rapidly expanding the e-commerce sector in the U.S. fashion market will boost the demand further. The popularity of online shopping is increasing constantly due to a rising number of digital payment options, such as PayPal, Alipay, and Apple Pay, and ease of payments offered by these platforms. Led by China, Indonesia, India, and Bangladesh, the Asia Pacific region is expected to register the fastest growth over the forecast period owing to rising consumer disposable income levels and improving standards of living in emerging economies. Rapid development of construction and automotive manufacturing industries is also boosting the product demand in the APAC market.

Leather Goods Market Share Insights

The market is characterized by the presence of well-established companies, such as Adidas AG; Nike, Inc.; Puma SE; Fila, Inc.; New Balance Athletics, Inc.; Knoll, Inc.; Timberland LLC; Johnston & Murphy; and Woodland. Small- and medium-sized manufactures in the global market are well-versed with the local markets as well as the product demand, which gives them a competitive edge over others. These companies cater to the local demands and are able to reach their customers faster than their global counterparts.

Table of Content:

1 Study Coverage

2 Executive Summary 

3 Breakdown Data by Manufacturers 

4 Breakdown Data by Type 

5 Breakdown Data by Application 

11 Company Profiles 

12 Future Forecast 

13 Market Opportunities, Challenges, Risks and Influences Factors Analysis 

14 Value Chain and Sales Channels Analysis 

15 Research Findings and Conclusion

16 Appendix 

Continued …

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About the Author :

Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports understand how essential statistical surveying information is for your organization or association. Therefore, we have associated with the top publishers and research firms all specialized in specific domains, ensuring you will receive the most reliable and up to date research data available. We also provide COTS (Commercial off the Shelf) business sector reports as custom exploration agreeing your particular needs.

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