Europe Leather Goods Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 71.94 Billion |
| Market Size (2029) | USD 84.86 Billion |
| CAGR (2024 - 2029) | 3.36 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Leather Goods Market Analysis
The Europe Leather Goods Market size is estimated at USD 71.94 billion in 2024, and is expected to reach USD 84.86 billion by 2029, growing at a CAGR of 3.36% during the forecast period (2024-2029).
Europe is a region with great potential for the leather products market because its major countries, especially Spain & Italy, have high and convenient access to European raw resources. In addition, a number of these nations are leading the way in terms of creating innovative and superior designs. Additionally, a lot of well-known fashion companies that frequently sell leather products have stores in this nation, which is favorable for further growth & demand. Innovations in design and the use of exotic leather to manufacture products have enabled manufacturers to cater to the demand of high-end and premium customers. Additionally, key market players are focused on designing personalized and customized leather goods to attract consumers to spend more on exclusive products. Manufacturers are employing cutting-edge technology like the automated cutting process to provide variety and customization options.
The adoption of omnichannel retailing will be a significant factor expected to drive the leather goods industry growth. Product improvement, use of social media platforms to increase consumer engagement and awareness about product launches, and adopting appropriate distribution channels are some of the strategies that leather handbag manufacturers adopt to promote their products. Furthermore, the leather goods market is also supported by the tourism sector. Europe is experiencing a sharp rise in tourism. European leather goods are more popular among tourists. The demand for personalized leather luggage, trolley bags, and backpacks is rising as a result of the booming travel and tourism sector and the new trend of travel vlogging. Additionally, the growing popularity of fashion shows that feature leather purses, jackets, pants, and shoes are providing manufacturers with attractive growth potential.
Europe Leather Goods Market Trends
This section covers the major market trends shaping the Europe Leather Goods Market according to our research experts:
Demand for Personalized Leather Goods Increasing Consumption
Increased demand for personalized, customized services focused on attracting high-end, premium customers is anticipated to boost the expansion of the leather goods market. With the trend of personalization and customization, market players have started designing customized leather goods to increase their customer base and sales. Key players are using customer interaction platforms to get customers' feedback regularly. Specializing in customization and personalization, major players have developed working relationships with individual and corporate customers across the region. All leather goods are made-to-order, tailored based on customers' choice of preferences, and can be personalized with their name, corporate logo, and monogram. Itlay is the largest market for customized shoes. Key market players are focused on designing personalized and customized leather goods to attract consumers to consume and spend more on exclusive products by using traditional vegetable-tanned, environment-friendly leather, further driving the demand for personalized leather goods.
The United Kingdom is Leading the European Leather Goods Market
The increased number of working professionals and young millennials is majorly driving the leather footwear market in the United Kingdom. Majorly driven by the fashion industry, European countries, such as the United Kingdom, France, and Italy, are witnessing an extensive dependency on leather goods, from production to trading in the footwear industry. The high-end, specialized manufacturers of upholstery, shoe uppers and soles, gloves, cushions, equestrian, and wet blue leather comprise the United Kingdom leather industry. In addition, to the rise in customer spending power, evolving lifestyles contribute to the market's growth. Also, in 2021, European Commission published a study stating that the leather footwear segment accounts for the major production share in the leather industry.
As the demand for flexible and lightweight products is growing rapidly, numerous innovations and technological advancements help surge the product demand in the United Kingdom. Leather footwear has high durability and stands strong even in heavy-duty work, along with casual, designer shoes. It can be used for indoor and outdoor applications, making it more popular among United Kingdom's consumers. The rising leather product popularity and rising online sales in the United Kingdom are anticipated to be driven the leather goods market in the future. It is also anticipated that the growing population of athletes and fitness enthusiasts will boost business expansion. The main distribution channels for leather goods in the United Kingdom are department stores, outlet stores, factory outlets, and e-commerce websites.
Europe Leather Goods Industry Overview
The leather goods market is highly competitive in the organized sector. The companies like Kering SA, LVMH, Chanel SA, Prada, and Herm猫s International SA are the most active among all the key players in the market. The major companies increasing their product line and expanding their presence in the European region. Expansion is the strategy preferred by companies to strengthen their leather goods market dominance. Major players are constantly trying to expand their production facilities or retail outlets to accommodate the growing demand, launch new designs, and strengthen their strategies for market development. For instance, in October 2022, Prada launched the new leather bag Supernova Handbags. New Supernova handbags include SLGs and leather purses made of smooth, brushed leather.
Europe Leather Goods Market Leaders
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LVMH
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Kering SA
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Herm猫s International S.A.
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Chanel SA
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Prada
*Disclaimer: Major Players sorted in no particular order
Europe Leather Goods Market News
- In September 2022, LVMH M茅tiers d'art announced major investments in two renowned Italian manufacturers: Robins and Ally Projects. The exotic leather tannery Ally Projects and the high-end leather ready-to-wear maker Robins has acquired by LVMH M茅tiers d'art. This is the most recent investment in a long progression.
- In February 2022, Hermes announced opening new leather goods factories in France to meet the demand for leather Birkin bags. The company intends to increase production capacity by opening new sites as products like the Birkin and Kelly bag have grown more difficult to find in stores.
- In January 2022, Chanel launched a new bag design called the CHANEL 22 Bag. It is composed of incredibly flexible yet durable leather and is designed to be both functional and lightweight. This bag is available in three sizes (small, medium, and large).
- In October 2021, British designer Anya Hindmarch was launching a collection of biodegradable leather bags. After two years of research and development, the London-based brand will debut the range in a bid to create pieces that are naturally biodegradable instead of recirculating items stopped from going into landfills in Spain.
- In March 2021, Herm猫s and Stella McCartney launched mushroom leather products. Both brands use vegan, sustainable, animal-free leather alternatives made from mycelium, the infinitely renewable underground root of fungi in France.
Europe Leather Goods Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Footwear
5.1.2 Luggage
5.1.3 Accessories
5.2 Distribution Channel
5.2.1 Offline Retail Stores
5.2.2 Online Retail Stores
5.3 Geography
5.3.1 United Kingdom
5.3.2 Germany
5.3.3 Spain
5.3.4 France
5.3.5 Italy
5.3.6 Russia
5.3.7 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 LVMH
6.3.2 Kering SA
6.3.3 Hermes International SA
6.3.4 Prada SpA
6.3.5 Chanel SA
6.3.6 Ralph Lauren Corporation
6.3.7 Michael Kors Holdings Ltd
6.3.8 Samsonite International SA
6.3.9 Capri Holdings Limited
6.3.10 Bata Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Leather Goods Industry Segmentation
Leather goods are products made from tanning hides and the skin of animals, mainly from cattle. The Europe leather goods market is segmented by type, distribution channel, and geography. Based on type the market is segmented into footwear, luggage, and accessories. Based on distribution channels, the market is segmented into offline and online retail stores. Based on geography, the market is segmented into the United Kingdom, Germany, Spain, France, Italy, Russia, and the Rest of Europe. For each segment, the market sizing and forecasts have been done based on value (in USD Million).
| Type | |
| Footwear | |
| Luggage | |
| Accessories |
| Distribution Channel | |
| Offline Retail Stores | |
| Online Retail Stores |
| Geography | |
| United Kingdom | |
| Germany | |
| Spain | |
| France | |
| Italy | |
| Russia | |
| Rest of Europe |
Europe Leather Goods Market Research FAQs
How big is the Europe Leather Goods Market?
The Europe Leather Goods Market size is expected to reach USD 71.94 billion in 2024 and grow at a CAGR of 3.36% to reach USD 84.86 billion by 2029.
What is the current Europe Leather Goods Market size?
In 2024, the Europe Leather Goods Market size is expected to reach USD 71.94 billion.
Who are the key players in Europe Leather Goods Market?
LVMH, Kering SA, Herm猫s International S.A., Chanel SA and Prada are the major companies operating in the Europe Leather Goods Market.
What years does this Europe Leather Goods Market cover, and what was the market size in 2023?
In 2023, the Europe Leather Goods Market size was estimated at USD 69.60 billion. The report covers the Europe Leather Goods Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Leather Goods Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Leather Goods Industry Report
Statistics for the 2024 Europe Leather Goods market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Europe Leather Goods analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
