Luggage and Leather Goods Market

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LUGGAGE AND LEATHER GOODS MARKET ANALYSIS

• Luggage and Leather Goods Market, By Product Type
  (Leather Goods (Footwear, Clothing and Apparel,
  Clutches and Wallets, Upholstery (Furniture and
  Automotive), Leather Accessories, Others),
  Luggage (Rolling Luggage, Duffle Bags, Suitcases
  and Briefcases, Backpacks, Totes and
  Hand-luggage, Others)), By Sales Channel (General
  Retailers, Single Brand Stores, Specialty and
  Multi-brand stores, Unorganized small stores,
  Online, Others), and By Region (North America,
  Europe, Asia Pacific, Latin America, Middle East
  Africa) - Size, Share, Outlook, and Opportunity
  Analysis, 2019 - 2027

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• Luggage and leather goods are produced from
  leather which is made up of animal skin. These
  products are highly durable and offer aesthetic
  look to the products. Leather goods includes
  footwear, clutches and wallets, clothing, and
  apparel, upholstery (furniture and automotive),
  and leather accessories. Luggage leather
  includes, duffle bags, rolling luggage,
  backpacks, suitcases and briefcases, and totes
  and hand-luggage. Moreover, leather is elegant
  that adds quality to the style as these products
  can be carried anywhere. Moreover, leather is
  natural and it never goes out of fashion, apart
  from fashion leather is highly resistant to harsh
  weather conditions as it does not peel off or
  crack easily which increases durability.
• The global luggage and leather good market is
  projected to reach around US 418.5 billion by
  the end of 2027, in terms of revenue, growing at
  CAGR of 5.2 during the forecast period
  (2019-2027).
• Drivers
• Increasing demand for leather products due to its
  durable nature is expected to boost the market
  growth of luggage and leather goods. According to
  the Council for Leather Exports, the export of
  footwear, leather and leather products from India
  reached a value of US 5.69 billion during
  2018-19. India is the second-largest producer of
  footwear in the world, producing about 2.41
  billion pairs (2017). This is expected to fuel
  market growth.

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• Market Restraints
• The threat of substitutes such as counterfeit
  products, especially handbags, which are
  available at a cheaper rate is expected to hinder
  the market growth. Growing usage of rexine
  product instead of pure leather is another major
  factor adversely affecting the quality of
  the leather products. This is expected to
  restrict the adoption of leather product which in
  turn hindering the market growth.
• Weak distribution network across Sri Lanka,
  Brazil and others are expected to hamper the
  market growth of luggage and leather
  goods. Moreover, leather goods are comparatively
  more expensive than conventional products which
  are expected to hamper the market growth
  of luggage and leather goods over the forecast
  timeframe.

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Figure 1 Global Luggage and Leather Good Market,
Revenue Share (), By Region, 2018
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• Market Opportunities
• Growing demand for lightweight bags and luggage
  around the globe is projected to provide a
  potential opportunity for the manufacturer of
  leather. Due to this manufactures are highly
  engaged in the production of varieties of
  lightweight handbags and luggage with enhance the
  quality and aesthetic appeal. This offers an
  opportunity for organized and unorganized vendors
  to introduced luggage and leather goods in the
  lightweight segment with improved quality.
• Increasing middle-income group owing to the rapid
  development of the economy and changing lifestyle
  of the consumer is expected to propel the market
  growth. Moreover, the rising number of working
  population coupled with the increasing purchasing
  power on leather clothing and apparels are
  expected to foster the market growth of luggage
  and leather goods over the forecast period. 

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Global Luggage and Leather Good Market
Opportunity Analysis
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• Market Trends/Key Takeaways
• The growing manufacturer is focusing on producing
  men accessories such as leather bracelets,
  neckpieces, gloves, and man purses are expected
  to foster the market growth of luggage and
  leather goods. Evolving fashion trends around the
  globe are promoting the market players to
  introduced innovative, stylish, compact, and
  trendy products for men as well as women.
  Evolving fashion is projected to augment market
  growth.
• Growing demand for leather products from military
  sectors is expected to foster the market growth
  of luggage and leather goods.  Various products
  such as harness, belts, holsters, saddles, and
  footwear which are used in the military are
  expected to accelerate the marker growth of
  luggage and leather goods. Hence, growing demand
  for the leather product from the military sector
  will favor the market growth.

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Figure 3. Global Luggage and Leather Good Market
Value Chain Analysis
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• Competitive Section
• Key players operating in the global luggage and
  leather goods market are Knoll, Inc., American
  Leather, Inc., Aero Leather Clothing Ltd.,
  Samsonite International S.A., VIP Industries
  Ltd., LVMH Moët Hennessy Louis Vuitton SE,
  Timberland, Johnston Murphy, Woodland, and
  Hermes International SA
• Few Recent Developments
• American Leather, Inc.
• Key Developments
• In October 2016, the company launched an accent
  chair ottoman collection with antique brass and
  polished nickel finishing in order to offer its
  consumers eye-catching furniture with unique
  design aesthetics.
• In October 2016, the company launched a
  collection of exquisite specialty leathers with
  compelling textures and trendy colors in order to
  expand it alluring product portfolio.

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