Asia-Pacific Leather Goods Market is Growing with a CAGR of 7.3% by 2023 to 2030

The Asia-Pacific leather goods market is a large and diverse market that includes a wide range of products such as leather bags, wallets, footwear, and accessories. The market is driven by factors such as increasing disposable income, growing fashion consciousness, and changing lifestyles. Major players in the market include companies like Samsonite, Kering SA, and Hermès International S.A. China, India, and Japan are some of the key markets in the region, and the market is expected to continue to grow in the coming years due to increasing demand from both domestic and international customers.

The global Asia-Pacific Leather Goods market report provides details of market share, new developments, and the impact of domestic and localized market players, analyzes opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market.

The Asia-Pacific Leather Goods market is expected to gain significant growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyzes that the market is growing with a CAGR of 7.3% in the forecast period of 2023 to 2030 and is expected to reach USD 164,326.57 million by 2030. The major factor driving the market growth is the rapidly expanding fashion industry which has greatly increased consumer demand for high-quality, premium, and luxury leather products.

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Global Asia-Pacific Leather Goods Market Dynamics

Drivers

Increase in the demand for premium and high-quality luxury leather products

The rapidly expanding fashion industry has greatly increased consumer demand for high-quality, premium, and luxury leather products. Customers value aesthetics and seek high-end products to create a fashion statement.

Moreover, an increasing number of High-Net-Worth Individuals (HNWIs), coupled with the growing trend of designer and branded clothes in major markets, such as the U.S., France, and China, is boosting the demand for luxury leather products. Asia-Pacific Leather Goods are exclusive and often premium priced.

Low-cost and heavy-duty construction of synthetic leather products

Synthetic leather, which is also known as Faux leather, is cheaper than real leather, animal-friendly, can be produced in virtually every color, can be manufactured to feature a high gloss finish, can be easily cleaned with a damp cloth, requires little maintenance, does not crack as easy as real leather, is UV fade resistant and does not have the real leather smell, which is expected to draw its demand in the forecast period. Faux Leather is a man-made product and is very durable.

These days Faux Leather is usually stronger than real leather. Artificial leather such as pleather, Naugahyde, vegan leather, barkcloth, cork, glazed cotton, and recycled PET polyester is available in the market. Pleather is commonly used to make artificial leather clothing. It is made from plastic and is less costly and lighter than genuine leather. Products made from pleather are available in a variety of colors. Another material used for leather is Naugahyde which looks similar to animal skin. All these factors and advantages offered by synthetic leather are expected to drive market growth.

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pportunities

Increase in innovation in Asia-Pacific Leather Goods with new features and designs

Consumer behavior has changed substantially over the past decade. As the old technologies have been exploited more, especially in developing and marketing fashion products, companies are getting new possibilities for fulfilling customer needs with product varieties. The development of new surface finishes and embellishments with viable techniques is needed to develop innovative products and add uniqueness and value to the products.

With the fast evolution and changing lifestyle daily, and rising disposable income, consumers are more inclined toward fashionable products. Consumers are improving their living standards based on their disposable income and are consuming more fashionable products. So these kinds of consumer inclinations will create an opportunity for the market players operating in the market.

Global Asia-Pacific Leather Goods Market Scope

Leather Type

• Full Grain Leather
• Split Grain Leather
• Faux Leather
• Bonded Leather
• Top Grain Leather

Product

• Footwear
• Handbags
• Apparel
• Others

Grade

• High-Grade
• Mid-Grade

Distribution Channel

• Specialty Stores
• Company Franchised Stores
• E-Commerce
• Supermarkets/Hypermarkets
• Others

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https://www.databridgemarketresearch.com/reports/asia-pacific-leather-goods-market Competitive Landscape and Global Asia-Pacific Leather Goods Market Share Analysis

Some of the prominent participants operating in the global Asia-Pacific Leather Goods market are:

• TBL Licensing LLC (A Subsidiary of VF Corporation),
• CAPRI HOLDINGS LIMITED, Hermès,
• KERING, PRADA S.P.A., Kiton,
• Woodland Leathers, American Leather,
• JOHNSTON & MURPHY (A Subsidiary of Genesco),
• NAPPA DORI among others.