The main findings of the report also show that North America and Europe together will dominate the global market for luggage and leather goods. On the contrary, according to a new report by Global Bags Market Research, demand for leather bags in Europe and the US market will increase by 5.3% over the next five years.
On the other hand, the Asia-Pacific region will record the highest growth rate in demand for leather bags over the next five years. However, it is forecast to be the fastest growing region over the forecast period.
The global luxury bag market was classified and forecast based on a variety of factors including market size, market share, growth rate, demand, trends and trends. The global luxury bag market is analyzed and forecast in terms of value and volume. This is due to the increasing purchasing power of consumers and changing fashion trends in the market.
The global leather bag market is made available to customers and includes a product overview and a total scope, with the most important terms defined. QY Research provides a detailed analysis of the global leather bag market in Europe and the US, by region.
The global leather luggage market is expected to grow moderately over the forecast period. The report provides a detailed analysis of the global leather bag market in Europe and the US, broken down by region. Thus, awareness of branded products would promote the demand for leather bags on the market, as well as the growth of leather bags on this market.
The market is segmented by product types, which include leather luggage and leather goods. The leather bag segment is divided into luxury, premium and non-luxury leather products. Luxury leather offers a wide range of properties, such as high quality leather, leather accessories, luxury accessories and accessories for men, women and children.
Europe's luxury leather market is divided into two remarkable segments, product and application. The leading market segments are segments based on application, product type and geography. It is expected to forecast a healthy CAGR of 3.8% over the forecast period from 2018 to 2025.
Analysts also assessed the growing investment in the leather industry in Europe and the US, which is expected to have an impact on the global leather bag market.
This section of the report highlights that the regions covered in the global leather bag market are North America, Europe, China and Japan. The European region will experience the highest growth rate for the leather bag market in the next five years. In this context, the regional segment provides the market outlook and forecasts for the global leather bag market.
In 2015, tannery was one of the largest suppliers of leather in Europe, and in 2016 Italy accounted for 18% of global leather exports. Europe's tanneries produce more than half of all leather bags in the world. Europe is responsible for more than half of all leather bag exports from North America and China, as it is the world's largest trading region and had a market share of over 40% in 2015.
In addition, the fashion industry is the largest market for leather bags in Europe and the second largest in the world after the United States.
The Asia-Pacific region is currently the largest market for artificial leather, followed by Europe in terms of value. It is characterised by high demand for leather bags due to its high quality and high quality leather products and is expected to be one of the fastest growing synthetic leather markets, supported by strong demand from the fashion industry in the region and the high growth rate of leather bag manufacturers.
The high demand for leather bags in emerging markets such as India, China and South Korea is also driving the artificial leather market in the region.
In 2014, the Asia-Pacific region generated the largest share of the global market for synthetic leather bags in terms of sales. This report provides a detailed analysis of the market growth and trends in the synthetic leather bags market for 2014-2020.
In order to maintain intense competition in the market, prominent companies in the market have pursued various strategies such as partnerships, mergers and acquisitions, product launches and joint ventures. It also supplies the leather travel bag market, which is known for its high-quality leather bags and leather products. This market research report also provides a detailed analysis of the global leather bag market for niche sectors.
The leather travel bag market is expected to grow at a significant pace over the forecast period from 2020 to 2025. The leather luggage market is expected to generate $94.7 billion by 2020, which translates into a CAGR of 5% over the forecast period from 2015 to 2020.
The growth of the leather luggage market is being supported by rising disposable incomes, increasing domestic and international travel and an improved standard of living. Leather luggage includes trolley bags and suitcases that are used for transporting personal belongings, while leather goods segment includes leather travel bags, trolleys, luggage racks, leather handbags and other leather accessories.
