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The global leather goods market was valued at US$ 350.2 Billion in 2021.
We expect the global leather goods market to exhibit a CAGR of 6.1% during 2022-2027.
The rising usage of leather in manufacturing sports equipment and automotive upholstery as it is long-lasting as well as provide resistance to fire, crack, and dust, is primarily driving the global leather goods market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of leather goods.
Based on the product, the global leather goods market has been segmented into footwear and leather products, where footwear currently holds the majority of the total market share.
Based on the material, the global leather goods market can be divided into genuine leather and synthetic leather. Currently, genuine leather exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global leather goods market include Adidas AG, American Leather Holdings LLC, Capri Holdings Limited, Hermès International S.A., Kering S.A., LVMH, Prada S.p.A. (Prada Holding S.P.A), Puma SE, Tapestry Inc., VIP Industries (Piramal Group), and Woodland (Aero Group).
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