The Middle East and Africa leather goods market is expected to gain significant growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyzes that the market is growing with a CAGR of 6.0% in the forecast period of 2023 to 2030 and is expected to reach USD 53,660.54 by 2030. The major factor driving the market growth is the increasing demand for premium and high-quality luxury leather products and low-cost and heavy-duty construction of synthetic leather products is expected to propel market growth.
Increasing innovation in Middle East and Africa Leather Goods with new features and designs and introducing bio-based leather are expected to provide opportunities in the global Middle East and Africa Leather Goods market. However, rising awareness regarding the detrimental effects of unethical practices in producing Middle East and Africa Leather Goods and lack of skills, technology, intermediate inputs, and processing equipment is projected to challenge the market growth.
The global Middle East and Africa Leather Goods market report provides details of market share, new developments, and the impact of domestic and localized market players, analyzes opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market.
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Global Middle East and Africa Leather Goods Market Dynamics
Drivers
Increase in the demand for premium and high-quality luxury leather products
The rapidly expanding fashion industry has greatly increased consumer demand for high-quality, premium, and luxury leather products. Customers value aesthetics and seek high-end products to create a fashion statement.
Moreover, an increasing number of High-Net-Worth Individuals (HNWIs), coupled with the growing trend of designer and branded clothes in major markets, such as the U.S., France, and China, is boosting the demand for luxury leather products. Middle East and Africa Leather Goods are exclusive and often premium priced.
Competitive Landscape and Global Middle East and Africa Leather Goods Market Share Analysis
Some of the prominent participants operating in the global Middle East and Africa Leather Goods market are:
TBL Licensing LLC (A Subsidiary of VF Corporation),
CAPRI HOLDINGS LIMITED, Hermès,
KERING, PRADA S.P.A., Kiton,
Woodland Leathers, American Leather,
JOHNSTON & MURPHY (A Subsidiary of Genesco),
NAPPA DORI among others.
Low-cost and heavy-duty construction of synthetic leather products
Synthetic leather, which is also known as Faux leather, is cheaper than real leather, animal-friendly, can be produced in virtually every color, can be manufactured to feature a high gloss finish, can be easily cleaned with a damp cloth, requires little maintenance, does not crack as easy as real leather, is UV fade resistant and does not have the real leather smell, which is expected to draw its demand in the forecast period. Faux Leather is a man-made product and is very durable.
The rise in the demand for comfortable, trendy, fancy leather apparel, footwear, and accessories
Middle East and Africa Leather Goods come in various products like gloves, bags, footwear, watches, furniture, and many others. The increase in the demand for leather in the production of clothing is one of the major driving factors that may positively affect the market growth. Moreover, the special characteristics of leather, such as the fireproof, dustproof, and crack-proof nature and durability of Middle East and Africa Leather Goods, are often preferred over other resources and materials, which has helped increase the demand and sales of the market.
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pportunities
Increase in innovation in Middle East and Africa Leather Goods with new features and designs
Consumer behavior has changed substantially over the past decade. As the old technologies have been exploited more, especially in developing and marketing fashion products, companies are getting new possibilities for fulfilling customer needs with product varieties. The development of new surface finishes and embellishments with viable techniques is needed to develop innovative products and add uniqueness and value to the products.
Global Middle East and Africa Leather Goods Market Scope
Leather Type
Full Grain Leather
Split Grain Leather
Faux Leather
Bonded Leather
Top Grain Leather
Product
Footwear
Handbags
Apparel
Others
Grade
High-Grade
Mid-Grade
Distribution Channel
Specialty Stores
Company Franchised Stores
E-Commerce
Supermarkets/Hypermarkets
Others