MEA Leather Goods Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.06 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
MEA Leather Goods Market Analysis
Middle East & Africa Leather Goods Market is forecasted to reach USD 21.23 billion by 2025growing at a CAGR of 7.06% during the forecast period (2020- 2025).
- Innovationin design and the use of exotic leather to manufacture products have enabled manufacturers to cater to the demand for high-end and premium customers. Also, key market players are focused on designing personalized and customized leather goods for attracting consumers to spend more on exclusive products.
- The adoption of omnichannel retailing all over middle east & africa will be one of the significant factors that are expected to drive leather goods industry growth. Product improvement, use of social media platforms to increase consumer engagement and awareness about product launches, and the adoption of appropriate distribution channels are some of the strategies adopted by leather handbag manufacturers to promote their products.
MEA Leather Goods Market Trends
This section covers the major market trends shaping the MEA Leather Goods Market according to our research experts:
Specialized Leather Processing Hub leading to an Increase in Production and Exports
Global leather manufacturers and brands can evaluate potential acquisitions at the Middle East and identify key business opportunities to control supply, costs, and quality of raw leather products and supplies, as the Middle East is expected to become the hub for leather manufacturing in the future, thus, aiding in the increased production of quality leather goods. Manufacturers are also looking to outsource the production of value-added processed goods and labor-intensive production to improve price competitiveness. For instance, In one of the UAE companies, such as Al Khaznah Tannery, production is about two thousand pieces, and the annual production is one and a half million feet. Moreover, its exports are increasing in India, East Asia, China, and Europe. The source of the graph provided is from General Authority for Statistics (Saudi Arabia) showing the operating revenue from leather and related products manufacturing.
Saudi-Arabia Remains the Fastest Growing Country
In Saudi Arabia, companies, such as Saudi Leather Industries Company, a specialized company in all leather product categories, offering a wide range of leather footwear and other safety shoes use vamp leather to ensure protection. Consumers in the region prefer luxury goods over conventional ones, owing to their high purchasing power and sustainable demand for these products that reflect their social status. Such factors have led companies, such as MCM (Mode Creation Munich), to open their first boutique in Saudi Arabia to tap the market potential. The boutique offers a wide range of luxury leather goods and accessories, such as bags, purses, and wallets. The country also exports many leather products globally, due to the presence of large number of tanneries, such as Al-Ahli Leather Factory Company Ltd., that use high-end technology from European companies that are renowned for their leather processing industry.
MEA Leather Goods Industry Overview
Middle East leather goods market is hugely influenced by expansion of international players in the region. The companies, like Kering SA, LVMH , Chanel SA, and Hermès International SA are the most active among all the key players in the market and the key players with better net sales performance and expansion investment plans are gaining more market share in this region. The key leather goods players are embarking on mergers and acquisitions, and entering into partnerships /agreements as one of their key strategies to achieve consolidation and optimize their offerings. Moreover, these players merge or acquire the leather tanneries to inflate the production procedures and achieve dominance in the leather goods market.
MEA Leather Goods Market Leaders
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LVMH
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Kering SA
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Herm猫s International SA
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Chanel S.A
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Capri Holdings Ltd
*Disclaimer: Major Players sorted in no particular order
MEA Leather Goods Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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3.1 Market Overview
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porters 5 Force Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Footwear
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5.1.2 Luggage
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5.1.3 Accessories
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5.2 By Distribution Channel
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5.2.1 Offline Retail Stores
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5.2.2 Online Retail Stores
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5.3 Geography
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5.3.1 Middle East & Africa
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5.3.1.1 United Arab Emirates
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5.3.1.2 Saudi Arabia
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5.3.1.3 Egypt
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5.3.1.4 Turkey
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5.3.1.5 South Africa
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5.3.1.6 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Company Profiles
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6.3.1 Adidas AG
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6.3.2 LVMH
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6.3.3 Ralph Lauren Corporation
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6.3.4 Michael Kors Holdings Ltd.
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6.3.5 Hermes International S.A.
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6.3.6 Prada S.p.A.
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6.3.7 Capri Holdings Ltd
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6.3.8 Louis Vuitton
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6.3.9 Kering S.A.
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
MEA Leather Goods Industry Segmentation
Middle East leather goods market has been segmented by type, distribution channel, and geography. By type, the market can be segmented into footwear, luggage, and accessories, and by distribution channel, the market can be segmented into offline and online retail stores.
| By Type | |
| Footwear | |
| Luggage | |
| Accessories |
| By Distribution Channel | |
| Offline Retail Stores | |
| Online Retail Stores |
| Geography | ||||||||
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MEA Leather Goods Market Research FAQs
What is the current Middle East & Africa Leather Goods Market size?
The Middle East & Africa Leather Goods Market is projected to register a CAGR of 7.06% during the forecast period (2024-2029)
Who are the key players in Middle East & Africa Leather Goods Market?
LVMH, Kering SA, Herm猫s International SA, Chanel S.A and Capri Holdings Ltd are the major companies operating in the Middle East & Africa Leather Goods Market.
What years does this Middle East & Africa Leather Goods Market cover?
The report covers the Middle East & Africa Leather Goods Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Middle East & Africa Leather Goods Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
MEA Leather Goods Industry Report
Statistics for the 2024 MEA Leather Goods market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. MEA 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.
