High Demand for Comfortable and Trendy Leather Goods to Fuel Sales

04 July 2019 : The leather goods consist of products used in daily life such as wallets, clothing, footwear, etc. Some innate characteristics of these products include qualities such as durability, crack resistance, and dustproof nature. This has resulted in high demand for comfortable and trendy bags, wallets, and other products fueling the growth of the market. Consumers prefer comfy yet stylish products due to changing fashion trends. This has also led to a rise in demand for accessories such as neckpieces, bracelets, and gloves. 

Changing Fashion Trends to Upscale the Sale of These Goods

The major material type variants in the leather goods market include Footwear (rubber and plastic, genuine leather, textiles and tropical fibers, etc.) and Leather Products (bio-based, genuine, and synthetic).

The genuine leather segment accounted for the largest share in the market and will continue its dominance over the forthcoming period. They comprise of leather obtained from hides of animals such as, pigs, goats, cows, and calves. Several categories of footwear products, such as casual sneakers, slippers, sports shoes, and army boots are typically made using tropical and textiles fibers. 

Increasing acceptance of sports athleisure or leisure trend has resulted in companies presenting novel products that suit user’s necessities. The sales of casual, athletic, and running-inspired sneakers have been on the increase due to shifting fashion trends. However, the constant trend of clear shoes is anticipated to drive the demand for plastic in shoe manufacturing. 

In addition, rubber shoes, like crocs, are similarly considered to be comfortable and trendy and are coming back in fashion, thus challenging sneakers. The emerging trend in the leather goods is high-end fashion brands coming up with stylish shoes of their own. For example, the high-fashion brand Balenciaga came out with their own crocs valued at USD 850.

Market Insights

Small- and medium- sized manufacturers in the market are familiar with the local markets along with the product demand, which gives them an inexpensive superiority over others. These key players provide substantially to the local demands and can reach their customers earlier than their global counterparts. 

Leading players operating in the leather goods market include Nike, Inc.; Adidas AG; Puma SE; New Balance Athletics, Inc.; Fila, Inc.; Knoll, Inc.; Johnston and Murphy; Woodland; and Timberland LLC.