Products made from leather, which is valued for its strength, adaptability, and visual appeal, are referred to as leather goods. Usually, these products consist of purses, belts, wallets, shoes, jackets, and accoutrements like briefcases and gloves. Products made of leather are prized for their classic elegance, which frequently denotes wealth, refinement, and fine craftsmanship. Beyond its visual appeal, leather goods are prized for their durability and usefulness. Well-made items can endure for decades or even longer with the right maintenance.
Europe Leather Goods Market Driving Factors and Challenges
Drivers:- The market for leather goods is expected to grow as a result of a rise in demand for specialized services that cater to the needs of high-end, luxury consumers. Market participants have been creating personalized leather goods in response to the trend of personalization and customization in an effort to grow their clientele and revenue. Every leather product is created to order, customized to the specifications provided by the client, and available with a monogram, company logo, or name added. The biggest market for personalized shoes is in Israel. Leading industry players are concentrating on creating personalized and customized leather goods utilizing conventional vegetable-tanned, environmentally friendly leather in order to draw customers in and encourage them to spend more on high-end items. This will increase consumer demand for personalized leather goods.
Challenges:- There are currently several environmental issues associated with the process of producing leather from animal hides and skins, including gas emissions, deforestation, and water waste. Further contributing to climate change is the clearance of certain forests, such the Amazon, for the purpose of raising cattle and producing leather. Due to the fact that a larger proportion of production units still employ chromium tanning, the tanning process is one of the major causes of environmental pollution during production. This would hamper the market expansion.
Impact of COVID-19 on Europe Leather Goods Market
The COVID-19 epidemic has had a major effect on the European leather products business. The implementation of lockdown processes and mobility constraints has resulted in a decrease in revenue for numerous leather goods manufactures and shops. This is because these measures have decreased client spending and store foot traffic. Production delays and increased raw material prices resulting from disruptions in the global supply chain are adding to the industry's burden. However, some relief has been provided by the pandemic's shift to online shopping, as many businesses have made investments in e-commerce infrastructure to engage with customers online.
Europe Leather Goods Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; Bata Corporation, Capri Holdings Limited, Chanel SA, Hermes International SA, Kering SA, LVMH, Michael Kors Holdings Ltd, Prada SpA, Ralph Lauren Corporation, Samsonite International SA, Others.
Europe Leather Goods Market Segmentation:
By Type: Based on the Type, Europe Leather Goods Market is segmented as; Footwear, Luggage, Accessories.
By Distribution Channel: Based on the Distribution Channel, Europe Leather Goods Market is segmented as; Offline Retail Stores, Online Retail Stores.
By Region: This research also includes data for Germany, France, Italy, Spain, UK, Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.