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The leather luggage market size is estimated to grow at a CAGR of 5.59% between 2022 and 2027. The leather luggage market size is forecast to increase by USD 3,893.82 million. The growth of the market depends on several factors, including the rising number of initiatives, the growing prominence of online shopping, and the growing global travel and tourism industry augmenting its growth.
This leather luggage market report extensively covers market segmentation by product (travel bags, casual bags, and business bags), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising number of initiatives is notably driving the market growth, although factors such as the wide availability of leather-free luggage products may impede the market growth. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising number of initiatives is notably driving market growth. The availability and production of leather are directly influenced by the demand from manufacturers of leather luggage. As a result, there is now more leather available for the manufacture of leather luggage due to the growing demand of leather goods in various nations around the world. New policies are being developed by some organizations in various nations to advance the leather market.
For instance, in February 2019, TMCMAXI SRL (TMCMAXI) and ITALPROGETTI Spa (ITALPROGETTI), which are companies that are based in Italy, announced their plan to enter the leather market in Tanzania to take advantage of the large quantities of rawhides and skins produced in the country. TMCMAXI offers machinery for leather processing, and ITALPROGETTI produces tanned leather. Both businesses intended to build a new facility in Tanzania to produce tanned leather. These initiatives will increase the supply of tanned leather for the manufacture of luggage as well as its production. Hence, such factors will increase the production and sales of leather luggage, which, in turn, will drive the growth of the global market during the forecast period.
The increasing demand for eco or organic leather and bio-fabricated leather is an emerging trend in the market. Traditional leather tanning is bad for people and disrupts the environment. As a result, there is an increasing need for eco-friendly and organic leather. The National Organic Program of the US Department of Agriculture ensures that animals are raised on organic feeds and that the leather they produce is tanned in an organic tannery.
Eco-leather is organically tanned, and the tanning procedure makes use of smoke, plant tannins, and vegetable tannins. Naturally, organic leather, which provides leather materials for goods manufacturing in the UK, only sources leather that has been certified from particular British farms. The leather has been certified by the German certification body TUV Rheinland to be free of harmful substances, environmentally friendly, and chrome. Additionally, businesses are phasing out hazardous PVC from their products. Modern Meadow, a Brooklyn-based startup in the US, is creating bio-fabricated leather that can be produced without harming animals in an effort to protect animals and go organic. To create bio-fabricated leather, the company creates collagen proteins from animal cells that are still alive. The protein is then organized into a substance that resembles natural leather. Thus, such factors are expected to drive the growth of the global market during the forecast period.
The wide availability of leather-free luggage products is a major challenge impeding the market growth. Due to the emphasis on animal welfare, there is an increasing demand for luggage products without leather. The toxicity, waste production, and pollution linked to leather tanning are also driving up demand for leather substitutes. Vendors, thus use synthetic leather, leatherette, made by covering the fabric with plastic, microfiber, made by industrially scraping materials, PVC, and other organic materials like jute, hemp, and bamboo.
Some microfibers are light in weight, tear and abrasion resistant, antibacterial, anti-mildew, and mothproof. They are also very strong in tensile tests. To lessen the use of leather, businesses also make luggage from environmentally friendly materials. For example, various government programs and initiatives support the growth of the jute market. Additionally, they want to increase jute-made luggage production and sales. Hence, these factors will hinder the growth of the global market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Leather Luggage Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
DELSEY - The company offers suitcases, bags, accessories, and others. The key offerings of the company include leather luggage solutions.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the travel bags segment will be significant during the forecast period. When traveling from one location to another, travel bags are useful for carrying clothing and other necessities. There are many different kinds of travel bags on the market, including travel totes, duffel bags, weekenders, rolling luggage, and travel packs.
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The travel bags segment was valued at USD 5,287.23 million in 2017 and continued to grow until 2021. The type of leather used, the amount of storage space, and the bag's design all affect how much leather travel bags cost. Many vendors let customers customize their purchases by picking the color, type of leather, and special appearances. People who prefer to carry leather bags to work or play and are fashion-conscious tend to be big consumers of such products. For instance, the Marcus Leather backpack with a zebra front pocket is a travel bag offered by Modern and Tribal CC that allows for customer customization. Customers can choose the color and type of leather for this travel bag. By releasing new variations of leather travel bags, some retailers are also attempting to diversify their product lines. Therefore, product expansions can increase sales and drive the growth of the market during the forecast period.
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APAC is estimated to contribute 49% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
APAC was the largest producer of leather luggage in APAC in 2020. By expanding the network of their retail stores, vendors are attempting to boost the sales of leather luggage. For instance, Hidesign declared in March 2020 that it would be opening six new physical stores throughout India in the upcoming years. Through new online retail platforms, some global vendors are also attempting to increase their sales in APAC. During the forecast period, the vendors' efforts to increase their online retail presence in APAC will boost online sales and fuel market expansion in the region. Samsonite International, VIP Industries, and Hidesign are three well-known suppliers of leather luggage in APAC.
China was one of the major markets for leather handbags in APAC in 2020. The rise of the middle class, rising disposable income, rising demand for luxury goods in lower-class cities, and an increase in travelers all have an impact on the Chinese market. Population growth and exposure to new fashions and trends have caused the market to expand significantly. The emergence of online retail in APAC has made shopping easier, which is also anticipated to fuel the market growth during the forecast period.
Furthermore, numerous domestic and international leather luggage manufacturers have been inspired to launch new product lines to complement the evolving lifestyles and fashion trends. As a result, luxury leather luggage companies like Hermes International, Kering SA, and LVMH Moet Hennessy - Louis Vuitton have been able to flourish in the region. Moreover, in order to increase their customer base and market share, vendors in APAC are actively developing new products and diverse product lines. Therefore, such factors will drive the growth of the market in the region during the forecast period.
In 2020, the outbreak of COVID-19 negatively impacted the growth of the market in APAC. However, the initiation of large-scale vaccination drives across APAC led to the lifting of lockdown restrictions in 2021. This resulted in the resumption of operations in different industries, including those manufacturing leather luggage. Moreover, the restrictions on travel and tourism activities were also lifted in 2021, which increased the demand for leather luggage in the region. Additionally, vendors are promoting online sales through third-party e-commerce players, such as Amazon.com and eBay Inc, to stay in the competition. Such factors are expected to drive the growth of the market in APAC during the forecast period.
The leather luggage market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global leather luggage market as a part of the global household products market. The global household products market covers non-durable household products, including detergents, soaps, diapers, and other tissue and household paper products. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Leather Luggage Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.59% |
Market growth 2023-2027 |
USD 3,893.82 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.78 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 49% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Bellroy Pty Ltd., Capri Holdings Ltd., Compagnie Financiere Richemont SA, DELSEY, Fossil Group Inc., Goldlion Group Co. Ltd., Hermes International SA, Hidesign, Kering SA, Leatherology, LVMH Moet Hennessy Louis Vuitton SE, MAHI Leather Ltd., NAPPA DORI Pvt. Ltd., Prada S.p.A, Samsonite International S.A., Tapestry Inc., Tucano Srl, VIP Industries Ltd., Zhejiang Jinluda Leather Goods Co. Ltd., and Kenneth Cole Productions Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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