Leather Goods Market Size, Share, Growth Analysis, By Material Type(Genuine, Synthetic), By Product(Footwear, Home Decor, Apparel, Others), By Region - Industry Forecast 2024-2031

Leather Goods Market size was valued at USD 413.14 billion in 2019 and is poised to grow from USD 440.64 billion in 2023 to USD 738.61 billion by 2031, growing at a CAGR of 6.7% in the forecast period (2024-2031).

The market is primarily driven by improving living standards, changing fashion trends, rising consumer disposable income, and expanding domestic and international tourism. It is anticipated that the market will benefit from the rising demand for stylish, trendy, and comfortable leather clothing, accessories, and footwear. Beautiful and expensive leather goods are frequently seen as status symbols and fashion statements. The demand for various leather goods, including clothing, footwear, and accessories, is being driven by the rising demand for modern designs offered by well-known international brands like Giorgio Armani, Burberry, Prada, and Dolce & Gabbana.

Designers all over the world use fashion shows and other events to introduce new clothing, which encourages more people to buy leather clothing. On leather clothing and other elegant dresses, numerous design techniques are frequently used, including applique, Lamé, and brocade. For instance, Shanghai, China hosted the Forever Leather Fashion show in September 2020. A range of contemporary style jackets, cross-stitched trench coats, travel bags, leather sneakers, duffel bags, and ankle boots were among the leather goods on display at the show. Numerous manufacturers, buyers, and designers of leather from various provinces come together in such situations.

US Leather Goods Market is poised to grow at a sustainable CAGR for the next forecast year.