Leather and Allied Products Market in Serbia 2016-2020

Outlook of the leather and allied products market in Serbia

Extensive research carried out by the analysts at Technavio has shown that the leather and allied products market in Serbia is expected to grow at a modest rate and will post a CAGR of more than 2% over the forecast period. Manufacturers of leather and allied products in Serbia are increasingly focusing on branding their products to differentiate themselves from their competitors. Moreover, many medium and large-scale manufacturers are also playing an active role in marketing their own brands to enhance visibility in a highly fragmented market. For instance, The Manual Co is one such manufacturer of leather products that focusses on branding and marketing its own products. With increasing focus on branding and marketing by the manufacturers, the leather and allied products market in Serbia is anticipated to have a positive outlook over the next four years.

One of the emerging trend spurring the growth prospects for this market is the rise in exports to trading partners in Europe. Italy and Germany are leading export destinations in the EU for the leather and allied products manufactured in Serbia. While the exports to Italy increased by nearly 21% between 2010 and 2014, exports to Germany nearly quadrupled during the same period. Other leading export destinations in Europe include Bosnia and Herzegovina, Montenegro, and Russia, which are also anticipated to witness significant growth and will impel this market’s growth over the next four years. 

Segmentation by product type and analysis of the leather and allied products market in Serbia

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

During 2015, the luggage, handbags, saddlery, and harnesses segment led the leather and allied products market in Serbia and accounted for nearly 77% of the market shares in terms of revenue. Although the demand for saddlery and harnesses has slumped over the years, the augmented demand for gloves, mittens, belts, bandoliers, handbags, and luggage will contribute to this market segment’s growth in the coming years.

Competitive landscape and key vendors

Manufacturers of leather and allied products in Serbia produce high-quality products, meet strict delivery deadlines, and are flexible in their order intake. Due to the presence of over 250 leather and allied products manufacturers in the country, the market is perceived to be highly fragmented. The majority of manufacturers are micro, small, and medium-sized enterprises that primarily cater to the domestic market. They do not focus much on branding and tend to rely on long-term contracts. However, the leaders in the market focus on branding and have a strong international presence, especially in countries in the EU and the US, Russia, and Turkey.

Key vendors in this market are -

• Biromat
• BKG
• Dafar
• GMS
• Luxurt Tannery
• Mona
• Olea
• Pentaks
• Princ Leather
• Ra Vero
• Slide Group
• STIM-IMPORT
• The Manual Company
• Tilly Group
• Visage Commerce

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 Serbia?
• What are the key market trends impacting the growth of the leather and allied products market in Serbia?
• What are the challenges to market growth?
• Who are the key vendors in the leather and allied products market in Serbia?
• What are the market opportunities and threats faced by the vendors in the leather and allied products market in Serbia?
• What are the trending factors influencing the market shares of Serbia?
• What are the key outcomes of the five forces analysis of the leather and allied products market in Serbia?

Technavio also offers customization on reports based on specific client requirement.

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• Global Leather Goods Industry 2015-2019
• Leather Chemicals Market in Europe 2015-2019
• Handbags Market in Europe 2015-2019