Leather Market - How Big Is It?

Image's Source: Pixabay

Is the Demand for Leather High?

Leather and leather goods’ market continue to show increasing buying trends owing to rising consumer demands for products such as shoes, boots, bags, briefcases, jackets, chaps, furniture, belts, wallets, and other accessories which are beautifully crafted or manufactured and strongly stitched from quality grading industrial threads.

International market demand for quality skins and hides tend to increase by the tanneries which are responsible in providing quality finished leather to the manufacturers that is used to construct elegant leather goods for meeting consistently growing customers’ requirements on global basis.

Goods made from leather are durable, long lasting, sturdy, elegant, eye-catching, smooth, attractive, glossy, beautifully designed, elegantly crafted, and strongly stitched from supreme quality threads.

Leather products are long-term money investment choices for customers and will continue to broaden their market worldwide because of lasting durability, sturdiness, material comfort, flexibility, longevity, and natural breathability which these naturally contain.

Customers tend to wear and use leather products for the longest span of time, so, that is why men, women, conscious buyers, and all fashion lovers highly demand for leather goods all over the world.

Fashion Demand

Leather products adequately satisfy changing fashion appetite of people, so, they love to buy leather goods in expressing their modern lifestyle and stylish persona because goods made of leather provide them convenience, comfort, mental peace, and body protection whenever they wear and use them in their social circles, friends' gatherings, and other social events.

Demand for Leather Shoes

Market-based demands for leather shoes have been rising on consistent basis globally because well-informed and intelligent customers know it very well that leather shoes show elegant styles, attractive appearance, glossy surface; contain soft lining, comfortable footbed, airy upper surface, comfy insole, midsole, sturdy backstay, prominent tongue, nice toplines, stacked heels,  and strongly stitched outer sole.

Demand for Leather Jackets

Market constituted demands for leather jackets tend to increase with the with the passage of time since these provide wearers comfort, convenience, and a sense of modernism because men, women, and all fashionistas look smart, trendy, noticeable, stylish, modern, and extrovert when they move in their social circles, friends’ gatherings and attending social parties while wearing their nicely sewn attires, elegantly designed and strongly constructed leather jackets.

How Big is the Leather Goods Market?

With the continuous increase in population, fast-paced modern urbanization and emerging new trends in clothing, fashion and lifestyle amongst rich, higher income bracket and middle income families, the demands for leather and leather goods market tend to expand with the passage of time.

Goods constructed from natural leather are durable, sturdy, long lasting, attractive, eye-catcher, beautifully crafted, strongly stitched and profoundly fascinating to the men and women who love to buy leather products, dress up and use in different social occasions, and happily keep them in their wardrobes. 

Consumers' purchasing demands for leather goods continue to expand size of the markets because of their buying choices and demand pressures for the leather fashion clothing, footwear, jackets, and other accessories.

Leather products are manufactured or crafted all over the world because of their likeability, supreme quality, durability, longevity, sturdiness, and deep fascination for new trends of fashion and lifestyle. 

Leather and leather goods such as shoes, boots, jackets, bags, gloves, and other accessories are heavily traded all over the globe and the exporters of leather goods maximise their revenues and profits by exporting their products to USA, European countries, Canada, Asian nations and African countries.

Impacting Fashion Industry

Fashion industry is one of the major promoters of stylish, trendy, and beautiful leather garments, footwear and bags which are used in fashion shows on a large scale. 

Prominent celebrities, movie stars, film actresses, leaders, adventurers, sportsmen, sportswomen, and corporate leaders love to wear and use leather goods and accessories in open public which tends to promote and expand leather industry worldwide.

Future Estimate

According to the study of IMARC Group, the global leather goods market size reached US$ 370.5 Billion in 2022 and IMARC Group expects the market to reach US$ 505.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during year 2023 to year 2028. 

The increasing fashion consciousness among the masses, rising focus on sustainability, and improving living standards of individuals represent some of the key factors driving the market.

Who is the Largest Producer of Leather?

When you calculate the numerical facts about the country which is the largest producer of leather and leather goods then China still ranks a number one position in the world. 

China produces high quality hides and skins which are obtained from animal sources such as bovine, buffaloes, cows, sheep and goats and the country produces over 6.0 billion square feet leather per year. 

Chinese manufactures and entrepreneurs engaged in leather-crafting businesses produce leather goods in different segments such as shoes, boots, sandals, bags, briefcases, furniture, belts, wallets, and numerous products belonging to the accessories. As the leading exporter of leather products, Chinese exporters benefit significantly from the trade and earn considerable foreign exchange for the country. 

Luxury Leather Goods Market

Luxury leather goods are constructed from superior quality hides and skins of which full grain leather is of the highest quality in all leather grades, so, the footwear, bags, jackets and other accessories made from full grain leather are sturdy, long lasting, attractive, breathable, and long-term investment choices for the consumers because they continue to wear and use leather products made of full grain leather for the longest span of time.

Image's Source:  Pixabay

Goods made from full grain leather are expensive but these are more sturdy, durable, long lasting than the products which are made of other leather grades such as top grain, genuine, suede, bonded leathers and faux leather. 

Full grain leather develops attractive and beautiful patina with aging and tends to show natural scars and imperfections on the surface of hides or skins, so, the attractiveness and sturdiness go side by side.

According to the research of Statista, the global revenue of leather luxury goods amounted to US$48 billion in 2019 and is expected to increase to US$64 billion by 2025. 

It is revealed from the study of Business Wire, the global leather wallets and purses market will touch around US$ 53.8 billion by 2027.

International Leather Market

On international level, leather industry is directly linked with the meat industry, farmers, butchers, customers, raw material suppliers, and intermediaries of raw skins and hides which are tanned and processed at factory level. Tanneries tan and meticulously process hides through multiple stages, so, as a good result, high quality leather is produced and distributed to the manufacturers of leather goods.

The major players of international leather market include China, Brazil, Russia, India, Italy, Korea, Argentina, United Stats of America, Mexico and Turkey. 

Unless the continuous growth in changing fashion trends and styling habits among customers to wear and use high-end and quality leather products such as shoes, boots, jackets, bags, luggage, belts, wallets, and other accessories continue, you will never see an end point in international leather market in the days to follow.

Hope you have enjoyed this reading material! 😊