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Technavio’s market research analysts have envisaged that the leather and allied products market in Bosnia and Herzegovina will witness steady growth and will post a CAGR of close to 4% over the forecast period. The proximity of Bosnia and Herzegovina to major textile and leather markets, such as France, Germany, Italy, and Spain, as well as the ability of its manufacturers to accept orders at short notice and deliver finished products quickly are factors that will boost the growth prospects of this market in the coming years. Moreover, the country has an abundant supply of cheap labor, which makes it a favorable destination for foreign investments.
An increase in the production capacity of leather tanning industry is one of the emerging trends driving the growth of this market. The production capacity of the leather tanning industry has fluctuated markedly since 2010. Between 2010 and 2014, revenue generated from tanning of furs and skins grew from less than USD 1 million to reach USD 50 million. It has been observed that the periods of significant growth in the leather industry coincided with the periods of increase in foreign investments as a result of improvements in the business environment in the country. The production capacity of leather tanning industry is anticipated to increase drastically during the predicted period, which will have a positive impact on this market’s prospects over the next four years.
During 2015, the tanned and dressed leather segment dominated the market and accounted for a market share of close to 88% in terms of revenue. Fresh foreign and domestic investments primarily from apparel and footwear brands have led to an increase in tanning activities, which will contribute to the growth of this segment in the coming years.
The leather and allied products market in Bosnia and Herzegovina is highly fragmented owing to the presence of over 300 manufacturers, including manufacturers of footwear. Currently, the leather and allied products market in the country is characterized by fluctuations in output, as manufacturers have access to limited resources. Over the past few years, multiple foreign brands have either acquired existing enterprises or established independent businesses in the country. A driving force behind this has been the privatization of state-owned enterprises, which has allowed for operational flexibility and enabled these companies to adapt to the current trends in the market as well as the requirements of foreign clients
Key vendors in this market are -
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This is preliminary content. The table of contents is subject to change.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
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