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Leather and Allied Products Market in Bulgaria 2016-2020

  • Published: Dec 2016
  • Pages: 50
  • SKU: IRTNTR10117
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This market research report presents a detailed analysis of the leather and allied products market in Bulgaria and identifies players like Aiko-8, Ariescommerce, Bodrost, Bulstars, Chaika – 95, Daks, Fotev, Fulmax, Joralti, Prince, Sana, and Taxidermy to be the key manufacturers in this market space. It also segments the market by product and includes sub-segments like luggage, handbags, saddlery, and harnesses and tanned and dressed leather, and dressed and dyed fur.

Outlook of the leather and allied products market in Bulgaria

Technavio’s market research analysts have estimated the market for leather and allied products in Bulgaria to grow at a slow but moderate CAGR of almost 1% by 2020. The rising demand from domestic market will aid in the growth of this market over the next few years. In this region, there has been a rise in the demand for leather and allied products from the domestic market due to a rise in the per capita income of Bulgarians. As per the World Bank data, in 2014, the per capita income of households increased by 2.3%, compared to 1.6% the previous years. Generally, Bulgarians are very fashion conscious and, as a result, they are spending more on luxury goods and fashion products like travel bags made from leather. This increase in the demand for luxury goods and travel bags have led to a rise in sales of leather goods in the domestic market.

Another critical factor impelling the prospects for growth in this market is the augmented demand for leather from the automotive industry. In this region, the automotive industry is one of the major end users of leather products. Leather is used in the manufacture of automotive interiors and upholstery. The recent growth of the automotive industry in Bulgaria will subsequently result in the entry of foreign vendors in the market. For example, in 2012, ALC, a South Africa-based company, invested $5 million in a project in Musachevo. The company is known for producing leather upholstery and other leather products for the automotive industry. Similarly, in 2013, China-based Great Wall Motors entered the market via a joint venture with Litex Motor.

Competitive landscape and key vendors

The market for leather and allied products in Bulgaria is characterized by the presence of a large number of regional manufacturers. Consumers in this end-use segment have a high degree of confidence in retail stores and e-commerce sites; as a result, key manufacturers are focusing on enhancing sales through these channels. This strategy was initially employed by foreign players but was later adopted by regional players.

Top vendors in the market are -

  • Aiko-8
  • Ariescommerce
  • Bodrost
  • Bulstars
  • Chaika – 95
  • Daks
  • Fotev
  • Fulmax
  • Joralti
  • Prince
  • Sana
  • Taxidermy

Product-based segmentation and analysis of the leather and allied products market in Bulgaria

  • Luggage, handbags, saddlery, and harnesses
  • Tanned and dressed leather, and dressed and dyed fur

During 2015, the luggage, handbags, saddlery, and harnesses segment dominated this market by accounting for an impressive market share of more than 85%. The tanning industry in Bulgaria flourished under the communist rule owing to the low cost of petrol that was being imported from the Soviet Union. However, in the early 1980s, privatization forced most of these companies to close. In 1989, the leather industry experienced a significant transformation with the emergence of numerous SMEs, which helped the tanning industry to recover. Consequently, the Bulgarian government is making concerted efforts to help in this recovery by implementing various initiatives to facilitate market growth.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the leather and allied products market in Bulgaria?
  • What are the key market trends impacting the growth of the leather and allied products market in Bulgaria?
  • What are the challenges to market growth?
  • Who are the key vendors in leather and allied products market in Bulgaria?
  • What are the market opportunities and threats faced by the vendors in the leather and allied products market in Bulgaria?
  • Trending factors influencing the market shares of Bulgaria.
  • What are the key outcomes of the five forces analysis of leather and allied products market in Bulgaria?

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This is preliminary content. The table of contents is subject to change.

PART 01: Executive summary

  • Highlights

PART 02: Scope of the report

  • Market overview
  • Top-vendor offerings

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights

PART 05: Market landscape

  • Market size and forecast
  • Five forces analysis

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

  • Competitive landscape
  • Other prominent vendors

PART 14: Key vendor analysis

PART 15: Appendix

  • List of abbreviation

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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