Global Leather Goods Market 2018-2022| Technological Advances in Manufacture of Leather Goods to Boost Growth| Technavio

The global leather goods market is expected to post a CAGR of close to
5% during the period 2018-2022, according to the latest market research
report by Technavio.

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Technavio has published a new market research report on the global leather goods market from 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is the perception of
luxury associated with leather goods. Leather has been considered and
promoted as a luxury product for quite a long time now. Additionally, as
leather offers a premium feel that is not provided by synthetic
products, it has become aesthetically appealing to several customers.
The high durability of leather also attracts customers as they prefer
goods that offer value for the money spent. Innovations in design and
use of exotic leather to manufacture products have enabled manufacturers
to cater to the demand of high-end and premium customers. In addition,
key competitors are designing personalized and customized leather goods
to attract customers.

This market research report on the global
leather goods market 2018-2022 also provides an analysis of the
most important trends expected to impact the market outlook during the
forecast period. Technavio classifies an emerging trend as a major
factor that has the potential to significantly impact the market and
contribute to its growth or decline.

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In this report, Technavio highlights the technological advances in the
manufacturing process as one of the key emerging trends in the global
leather goods market:

Global leather goods market: Technological
advances in the manufacturing process

Key players in the industry are coming up with several technologies to
enhance the properties of leather goods. In addition to this, since
transforming leather into finished goods involves many processes,
manufacturers are trying to optimize the quality and yield at low costs
while reducing environmental pollution. For instance, Florida-based
Graphix on Finishes has launched 2D and 3D printing technology for
enhancing leather. This leather is waterproof, fade-resistant, and
highly durable. Similarly, LANXESS, a specialty chemicals company has
developed LEVOTAN W, a functionalized silicone-containing microemulsion
to produce waterproof leathers. Such developments are expected to boost
the global leather goods market during the forecast period.

According to a senior analyst at Technavio for retail goods and services
research, “Growing disposable incomes have led to an increase in
demand for aesthetically appealing and durable leather goods.
Innovations in design and the use of exotic leather are enabling
manufacturers to cater to the demands of high-end and premium customers.”

Global leather goods market: Segmentation
analysis

This market research report segments the global leather goods market by
product (footwear, luggage, bags, wallets, and purses; and others) and
geographical regions (the Americas, EMEA, and APAC).

The Americas led the market in 2017 with a market share of more than 38%
of the market share, followed by APAC and EMEA respectively. The market
share of APAC is expected to witness the maximum increase in its market
share over the forecast period, while the Americas and EMEA will see a
decrease in their market shares.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

About Technavio

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View source version on businesswire.com: https://www.businesswire.com/news/home/20180712005868/en/

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