Fashion and Garment Leather Market

Fashion and Garment Leather Market was valued at USD 167.2 billion in 2022 and is forecast to touch USD 232.4 billion in 2030, and the market is expected to grow at a CAGR of 4.2% from 2023-2030

Fashion and Garment Leather Market Overview

Leather is considered as one the most popular fabric globally for the fashion and garment industry. Different types of leather are being used to manufacture everyday products such as apparel, shoes, bags, and other accessories. Furthermore, rising disposable income and consumer’s spending on fashion and clothing is supplementing the demand for leather products globally.

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Major Fashion and Garment Leather Market Drivers

Surging demand on fashion and leather goods from the emerging economies continues to be one of the major growth drivers. For instance, according to the International Monitory Fund (IMF), an estimated global consumer class of around 4 billion people spends approximately USD 55 Trillion per year. It includes spending on clothing, apparel, and other additional accessories. Therefore, growing spending has propelled the fashion and garment leather market growth. Furthermore, growing brand awareness supported by rising disposable income has further accelerated the market for premium leather goods. Companies such as Louis Vuitton, Prada, Gucci are some of the popular fashion brands in the luxury leather products market

Owing to the growing demand for leather products globally, leading manufacturers are adopting several strategies for launching new leather products with an innovative design through mergers and acquisitions, and expansion of the production capacity. For instance, in 2018, the Richemont Swiss luxury group’s leather goods business expanded the production of accessories such as wallets, handbags, belts, and travel goods for its portfolio of luxury brands.

Restraint in the Fashion and Garment Leather Market

However, presence of alternatives such as cotton, rubber and other plant-based leather products act as a market restraint. These alternative products are eco-friendly and have a low cost compared to other animal-based leathers. Increasing adoption of cotton for the fashion industry due to the surge in cotton production around the globe has hampered the fashion and garment leather market growth. Furthermore, cotton is responsible for the generation of USD 3 trillion revenue for the global fashion industry, including clothing with unique designs from reputed brands.

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Product – Segment Analysis

Based on the product, footwear segment dominated the market in 2020 occupying highest market share and is expected maintain its dominance over the forecast period. For instance, according to the Footwear Distributors and Retailers of America in 2020, an estimated around 25 million pairs were annually made in the United States. Furthermore, increase in import-export activities of leather footwear is further contributing to market growth. For instance, according to the Leather India Organization in 2020, the footwear leather and leather products export from India was valued USD 3.68 Billion.

Animal Type – Segment Analysis

Based on animal type, the bovine segment occupied the largest share in the market and is expected to grow at fastest rate during the forecast period. The easy availability of raw material and presence of huge livestock in the developing economies is a major factor responsible for the growth of bovine segment during the forecast period. Moreover, bovine is popular for the manufacturing of footwear in developed and developing countries such as India, China, the United States, Germany, and many other European countries, thereby contributing to the growth of the global fashion and garment leather market during the forecast period.

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Regional – Segment Analysis:

Based on region, the APAC market is expected to witness fastest growth in the coming years owing to increasing spending on fashion and leather products among populous countries such as China and India. Furthermore, increasing production facility, rising import and export activities and favourable government initiatives will further propel the demand in the coming years. China stands to be one of the largest manufacturer of the leather and leather products due to availability of the raw materials and growing population demand for the fashion and apparels.

Top Market Players

Various notable players operating in the market include Adidas AG, Hermes, Puma SE, Louis Vuitton, Prada, Woodland Worldwide, among others. 

Key Developments:

• • In, 2021, Louis Vuitton launched Women’s Spring-Summer 2021 Collection at Samaritaine Show in Paris.  A collection includes selection of bags entirely with new designs as well as reinterpretations of iconic models.
  • In 2021, Louis Vuitton in collaboration with JD.com, has planned to expand the reach of the products in China through online channel. This tactical partnership can be considered as a creative approach for China’s online luxury fashion trade
  • In 2020, Hermes stated that the company will bulk up leather goods production with the new production unit in France. This expansion was strategically for expanding the leather goods product portfolio like handbags and others

Segments covered in the Report:

The global fashion and garment leather market has been segmented on the basis of product, animal type, finish, end-user, type and key regions. Based on product, the market is segmented into clothing, footwear, accessories, and others. Based on animal type, the market is segmented into bovine, goat, sheep, pig and others. Based on finish, the market is segmented into nappa, split, suede, waxy and others. By End-User, the market is segmented into men, women and kids. Based on type, the market is segmented into full grain, top grain, genuine and bonded leather.   

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Market Segmentation

Global Fashion and Garment Leather Market by Product

• • Clothing & Apparel
  • Footwear
  • Accessories
  • Others

Global Fashion and Garment Leather Market by Animal Type

• • Bovine
  • Goat
  • Sheep
  • Pig
  • Others

Global Fashion and Garment Leather Market by Finish

• • Nappa
  • Split
  • Suede
  • Waxy
  • Others

Global Fashion and Garment Leather Market by End-User

• • Men
  • Women
  • Kids

Global Fashion and Garment Leather Market by Type

• • Full Grain
  • Top Grain
  • Genuine
  • Bonded Leather

Global Fashion and Garment Leather Market by Region

• • North America Fashion and Garment Leather Market (Option 1: As a part of the free 25% customization)

    • by Product
    • by Animal Type
    • by Finish
    • by End-User
    • by Type
    • US Market All-Up
    • Canada Market All-Up

  • Europe Fashion and Garment Leather Market (Option 2: As a part of the free 25% customization)

    • by Product
    • by Animal Type
    • by Finish
    • by End-User
    • by Type
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Fashion and Garment Leather Market (Option 3: As a part of the free 25% customization)

    • by Product
    • by Animal Type
    • by Finish
    • by End-User
    • by Type
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Fashion and Garment Leather Market (Option 4: As a part of the free 25% customization)

    • by Product
    • by Animal Type
    • by Finish
    • by End-User
    • by Type
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up