Leather Goods Market Size, Share & Trends Analysis, 2025–2032

According to Fortune Business Insights, the global leather goods market was valued at USD 498.57 billion in 2024 and is expected to surge to USD 855.36 billion by 2032, registering a CAGR of 7.05% during the forecast period. Europe dominated the market in 2024, accounting for a significant 37.44% share. Meanwhile, the U.S. leather goods sector is projected to reach USD 220.08 billion by 2032, reflecting strong growth potential. This upward trend is driven by increasing consumer preference for high-quality, premium, and durable accessories across the globe.

List of Key Players Mentioned in the Report:

• Hermes International (France)

• LVMH Moët Hennessy Louis Vuitton (France)

• Kering (France)

• Prada (Italy)

• Capri Holdings (U.S.)

• Vf Corporation (U.S.)

• Kuraray Co., Ltd. (Japan)

• R. Polycoats Pvt. Ltd. (India)

• Adriano Di Marti (Mexico)

• Broke Mate (India)

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Segments:

Synthetic Leather Segment to Register Substantial Growth Driven by Soaring Costs

Based on source, the market for leather goods is segmented into full grain leather and synthetic leather. Of these, the synthetic leather segment is poised to record appreciable growth throughout the projected period. The surge is being impelled by the growing product demand in the apparel and footwear sector.

Footwear Segment to Depict Considerable Expansion Owing to the Benefit of Durability

On the basis of product, the market is fragmented into footwear, apparel, luggage, and others. The footwear segment is set to register commendable expansion over the analysis period. The rise is being driven by the benefit of durability offered by leather footwear.

Men Segment to Exhibit Notable Surge Impelled by Escalating Luxury Footwear Demand

Based on end-user, the market is subdivided into men, women, and kids. The men’s segment is slated to depict considerable growth throughout the projected period. The growth is being impelled by the increasing demand for jackets, leather shoes, formal wear, and other goods.

On the basis of geography, the market for leather goods has been studied across Asia Pacific, Europe, North America, the Middle East & Africa, and South America.

Report Coverage:

The report gives an in-depth analysis of the significant factors driving the business landscape across numerous regions. It further delves into the major aspects favoring market expansion over the forthcoming years. Some of the prominent aspects of the report comprise the crucial steps taken by key industry participants for strengthening their market position.

Drivers and Restraints:

Industry Value to Rise Owing to Escalating Demand for Luxury Goods

The leather goods market growth is being propelled by the growing product usage in fashion shows and the increasing prevalence of natural leather as a luxury product. Additional factor favoring business expansion is the surging demand for customized and handmade goods.

However, the industry growth could be hampered by the process of leather production from skins and animal hides.

Regional Insights:

Europe to Emerge as Leading Region Owing to the Presence of Large Manufacturers

The Europe leather goods market share is touted to impel commendable growth over the analysis period. The surge is being impelled by the presence of leading manufacturers and the escalating demand for footwear.

North America is slated to register appreciable expansion throughout the forecast period. The escalation is due to the rising luxury goods demand in the region.

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Competitive Landscape:

Leading Companies Ink Various Agreements for Increasing Product Penetration

Key industry participants are undertaking research activities for the development and rollout of new products. Many companies are focusing on the implementation of numerous initiatives such as the formation of alliances, merger agreements, and acquisitions. Furthermore, several companies are entering into partnership agreements for expanding product reach and increasing their geographical footprint.

Key Industry Development:

• January 2022 - Thrasio-Style Mensa Brands announced the acquisition of Estalon. The acquisition is to fulfill the rising demand for leather products, with the help of expanding the Thraiso-Style Mensa Brands footprint with the expertise of Estalon in data-based insights, digital marketing, and enhancing operational efficiencies.

• October 2021 - Roots announced the launch of new limited-edition leather jackets and handbags in collaboration with Révolutionnaire. The products are focused on inclusivity and social justice to cater to a larger audience.

• April 2021 - Adidas Ag announced the launch of its new shoes Stan Smith sneakers made from vegan leather for which a mushroom-based material is used. The new launch is a part of the company’s broader sustainability goals to fulfill the growing demand for sustainable products in the market.