What Can Leather And Allied Products Market Players And Technology Firm Partnerships Produce Together?
November 25, 2021
The Business Research Company’s Leather And Allied Products Global Market Report 2021 - COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, November 25, 2021 /EINPresswire.com/ -- Technological advances in the field of wireless technologies have enabled leather product manufacturers to integrate wearable technology into their products. Leading fashion designers are partnering with technology firms to produce trendy wearables and luxury products as the market is adopting this concept broadly. For instance, Ralph Lauren introduced the ‘Ricky Smart Bag’ made from premium leather that enables users to charge their phone by lifting one of the flaps that activates an internal light.
The global leather and allied products market size is expected to grow from $291.11 billion in 2020 to $336.21 billion in 2021 at a compound annual growth rate (CAGR) of 15.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $468.93 billion in 2025 at a CAGR of 9%.
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Increasing demand for online shopping is expected to drive the leather and allied products market. Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically driving the growth of the leather and allied products market. In countries such as India, for instance, e-commerce portals have boosted the sales of these products by giving larger exposure to producers who were confined to one geography.
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Major players covered in the global leather and allied products market are NIKE Inc, Gap Inc, Christian Dior SE, Adidas AG, Kering SA.
TBRC’s global leather and allied products market is segmented by type into leather footwear, non-leather footwear, leather luggage, hand bags and other goods, non-leather luggage, hand bags and other goods, leather tanning, by application into automotive, furniture, consumer goods, by type of leather into top-grain leather, split leather, patent leather, bonded leather, by distribution channel into retail stores, online stores.
Leather And Allied Products Global Market Report 2021 - By Type (Leather Footwear, Non-Leather Footwear, Leather Luggage, Hand Bags And Other Goods, Non-Leather Luggage, Hand Bags And Other Goods, Leather Tanning), By Application (Automotive, Furniture, Consumer Goods), By Type Of Leather (Top-Grain Leather, Split Leather, Patent Leather, Bonded Leather), By Distribution Channel (Retail Stores, Online Stores), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides leather and allied products market overview, forecast leather and allied products market size and growth for the whole market, leather and allied products market segments, and geographies, leather and allied products market trends, leather and allied products market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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