Leather Luggage Market by Product and Geography - Forecast and Analysis 2021-2025

The leather luggage market share is expected to increase by USD 22.93 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5%.

The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentation by product (travel bags, casual bags, and business bags) and geography (APAC, North America, Europe, South America, and MEA).

The leather luggage market report also offers information on several market vendors, including Bellroy Pty Ltd., Hermes International, Hidesign, Kering SA, Leatherology, LVMH Moet Hennessy - Louis Vuitton, MAHI Leather Ltd., Samsonite International SA, Tapestry Inc., and VIP Industries Ltd. among others.

Hidesign - The company offers key products such as Pop fiction and Bolide leather bags. The leather goods and saddlery segment of the company deals with producing and selling bags for men and women, clutches, briefcases, luggage, small leather goods, diaries and writing objects, saddles, bridles and a full range of equestrian products, and clothing.

What will the Leather Luggage Market Size be During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global leather luggage market as a part of the global apparel, accessories, and luxury goods market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the leather luggage market during the forecast period.

Leather Luggage Market: Key Drivers, Trends, and Challenges

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Leather Luggage Market Driver

• One of the key factors driving growth in the leather luggage market is the increasing number of product launches.
• Product launches increase the revenues and market share of vendors. They also enable vendors to retain customers and expand their customer base.
• In April 2019, LVMH Moet Hennessy - Louis Vuitton launched its new leather luggage called Horizon Soft. The new variant is light in weight and has a high interior volume.
• In March 2019, Bellroy Pty Ltd. launched its new luxury leather line.
• In February 2019, Hidesign launched new luggage products made from East Indian leather.
• The availability of new variants of leather luggage products will increase sales and drive the growth of the global leather luggage market. 

Key Leather Luggage Market Challenge

• The wide availability of leather-free luggage products will be a major challenge for the leather luggage market during the forecast period.
• The demand for leather-free luggage products is increasing, owing to the emphasis on animal welfare.
• The demand for leather alternatives is also increasing due to the toxicity, waste generation, and pollution associated with the tanning of leather. Hence, vendors use artificial leather; leatherette, which is made by overlying fabric with plastic; microfiber, which is made using the industrial scraping of materials; PVC; and other natural materials such as jute, hemp, and bamboo.
• Companies also use eco-friendly materials to produce luggage products to reduce the use of leather. Some companies are launching new products in the non-leather luggage category. 
• These factors will increase the demand for leather-free materials and encourage vendors to offer leather-free luggage, which will hinder the growth of the global leather luggage market during the forecast period. 

This leather luggage market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Leather Luggage Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the leather luggage market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Leather Luggage Market?

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50% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for leather luggage in APAC. Market growth in this region will be faster than the growth of the market in the North American regions.

China was the largest producer of leather luggage in APAC in 2020. Labour cost in the leather industry is comparatively lower in India than in China, Bangladesh, and Vietnam. The rising cost of labour in the leather industry in China is encouraging investors to shift their focus toward India. In India, the Council of Leather Exports (CLE) is focusing on increasing the export of leather products to Europe and the Americas. Vendors are trying to increase the sales of leather luggage by expanding their retail store networks. This will facilitate the leather luggage market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What is the Fastest-Growing Product Segment in the Leather Luggage Market?

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The leather luggage market share growth by the travel bags segment will be significant during the forecast period. Travel bags are convenient to carry clothes and other essentials when travelling from one place to another. Travel totes, duffel bags, weekenders, rolling luggage, and travel packs are some types of travel bags that are available in the market. The popularity of spinner luggage products that are made of polycarbonate materials is increasing. However, the popularity of travel bags made of other materials may negatively impact the sales of leather travel bags during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the leather luggage market size and actionable market insights on the post-COVID-19 impact on each segment. 

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What are the Key Data Covered in this Leather Luggage Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive leather luggage market growth during the next five years
• Precise estimation of the leather luggage market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the leather luggage industry across APAC, North America, Europe, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive analysis of factors that will challenge the growth of leather luggage market vendors

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