Leather Goods Market Size, Share & Trends Analysis Report By Type (Genuine Leather, Synthetic Leather, Vegan Leather), By Product, By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the leather goods market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for leather goods market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of leather goods market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Leather Goods Market Categorization:

The leather goods market was categorized into four segments, namely type (Genuine Leather, Synthetic Leather, Vegan Leather), type by product (Genuine Leather, Synthetic Leather, Vegan Leather), product (Handbags, Small Leather Goods/ Accessories, Apparel, Footwear, Home Décor and Furnishing, Pet Accessories, Automotive Accessories), and regions (North America, Europe, Asia Pacific, Central and South America, Middle East & Africa).

Segment Market Methodology:

The leather goods market was segmented into type, type by product, product, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The leather goods market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central and South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eight countries, namely, the U.S.; Germany; the UK.; France; Italy; China; India; Brazil

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Leather goods market companies & financials:

The leather goods market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Adidas AG: incorporated in 1924, Adidas AG was previously known as Dassler Brothers Shoe Factory and was renamed as Adidas AG in June 1949. The company, along with its subsidiaries, designs, produces, and markets sports & athletic lifestyle products. It is the largest sportswear manufacturer in Europe and the second-largest in the world. The company sells its products through two major brands-Reebok and Adidas. The products sold by these companies include footwear, clothing, and accessories for men, women, and children. 

• Nike, Inc.: Nike, Inc., established in 1964, is a public company, headquartered in Oregon, U.S. It designs, manufactures, markets, and distributes sports & casual apparel, footwear equipment, and accessories. The company operates through the following segments-North America, Europe, Middle East & Africa; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate. The company sell its products under the brand names-Nike Inc., Jordan, Hurley International LLC, and Converse Inc. The company also focuses on seven key performance and lifestyle categories-running, basketball, football, men's training, women's training, Nike sportswear, and action sports. 

• Puma SE: Puma SE was founded in 1948 and is headquartered in Herzogenaurach, Germany. The French luxury group Kering holds 16% of the company shares and is Kering's largest shareholder and Artemis SA owns 29% of the share capital of Puma SE. Puma manufactures casual & athletic footwear, apparel, and accessories for men, women, and children. It sells its products through the brand names Puma, Dobotex, and Cobra Puma Golf. Its product portfolio includes shoes, clothing, and accessories. 

• Fila, Inc.: Fila, Inc. is a sporting goods manufacturer based in Seoul, South Korea. The company was founded in 1911 in Italy but was taken over by Fila Korea in 2007. Until 1970, it manufactured underwear and later moved on to sportswear, which helped the company gain recognition in the market. The company manufactures sports footwear and apparel for men, women, and children. The products manufactured by the company are sold under three major segments-sports, style, and Milano. 

• New Balance Athletics, Inc.: New Balance Athletics, Inc. is headquartered in Massachusetts, U.S. The company was established in 1906 as New Balance Arch Support Company and changed its name to New Balance Athletics, Inc. in September 2015. It has a manufacturing facility in the U.S. and the UK, and designs and sells sports & athletic products such as footwear, apparel, and accessories. 

• Knoll, Inc.: Knoll, Inc. was founded in 1938 and is headquartered in Pennsylvania, U.S. The company designs and produces textile, tables & desks, seating products, office systems, files & storage, and accessories for use in homes, offices, and educational institutions. The company’s customers include government agencies, public & private companies, and other medium & large-sized organizations across varied industries, including accounting, healthcare & hospitality, finance, education, and legal. 

• American Leather Holdings, LLC: American Leather Holdings, LLC was founded in 1990 and is headquartered in Texas, U.S. The company is engaged in manufacturing and selling luxury furniture. Its product portfolio includes sofas, reclining chairs, chairs, benches, ottomans, beds & headboards, and private theatre recliners. The company sells its products through a chain of retailers, dealers, and stores across the U.S. It offers a wide range of products; for instance, the company offers a sofa beds in seven sizes-king, queen plus, queen, full, twin, cot, and double cot. The customer can choose between any of these sizes and color and fabric options. 

• Samsonite International S.A.: Samsonite International S.A. was founded in 1910 and is headquartered in Hong Kong. The company is the world’s largest travel luggage manufacturer, with a product portfolio that includes luggage, computer bags, business bags, casual bags, outdoor bags, and women’s bags, as well as travel accessories & slim protective cases for personal electronic devices. The company markets its products through various brands like Samsonite, American Tourister, Kamiliant, Tumi, High Sierra, Hartmann, Speck, Gregory, and Lipault. 

• VIP Industries Ltd.: VIP Industries Ltd. was founded in 1971 and is headquartered in Maharashtra, India. The company is the world’s second largest and Asia’s largest luggage maker. It sells its products through a range of brands including Aristocrat, Alfa, Caprese, Carlton, VIP, and Skybags. 

• Timberland LLC: Timberland LLC was founded in 1928 and is headquartered in New Hampshire, U.S. The company is a retailer and manufacturer of footwear, clothing, and accessories and specializes in the manufacturing of footwear. The company’s portfolio also includes watches, backpacks, wallets, belts, sunglasses, hats, and keychains.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Leather Goods Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Leather Goods Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.