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Apparel and Leather Products Market Size, Share, Growth, and Industry Analysis, By Type (Leather And Allied Products, Apparel), By Application (Online Sales, Offline Sales), and Regional Forecast to 2034
Region: Global | Format: PDF | Report ID: PMI1010 | SKU ID: 24029326 | Pages: 94 | Published : November, 2023 | Base Year: 2024 | Historical Data: 2020-2023
APPAREL AND LEATHER PRODUCTS MARKET REPORT OVERVIEW
The global Apparel and Leather Products was valued is expected to rise to USD 2864.17 billion in 2025, eventually reaching USD 5677.96 billion by 2034, expanding at a CAGR of 7.9% from 2025 to 2034.
A textile created by knitting, felting, or weaving is referred to as apparel or leather products. On the other hand, leather products are strong, flexible, and durable materials derived from animal hides and skins that have undergone chemical treatment to stop deterioration.
Leather and associated products, as well as clothes, are the two main forms of apparel and leather products. Manufacturers of leather goods tan or cure skins to make leather before assembling them into completed items. They also create comparable products from other materials, such as rubber, polymers, or textiles (apart from clothing), which are substitutes for leather. Men, women, and children use the products, which are supplied through both offline and online sales channels.
COVID-19 Impact
Market Growth Restrained by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
COVID-19 caused significant losses in the 2022 leather and clothing market. Lockdowns and trade restrictions shattered supply chains, which reduced consumption. COVID-19 was first discovered in Wuhan, China, in 2019 and quickly spread over the world, affecting North America, Europe, and Asia. Government containment policies damaged economies and stopped manufacturing, resulting in lockdowns and commercial disruptions in 2021 and beyond. Forecasts, however, indicate that the market will eventually recover because COVID-19 was an unanticipated "black swan" event. In contrast to systemic market flaws, this crisis is thought to be transitory, suggesting that the leather and clothing industries may recover, and thus give hope for the upcoming forecast period.
LATEST TRENDS
Increasing Product Development and Innovation in Synthetic and Vegan Leather to Drive Market Expansion
The apparel and leather products business is experiencing market expansion due to the increasing innovation and development of items in synthetic and vegan leather. Numerous causes are driving this trend, such as the growing popularity of veganism, the growing desire for cruelty-free and sustainable products, and technological breakthroughs that are improving the durability, comfort, and style of synthetic leather.
APPAREL AND LEATHER PRODUCTS MARKET SEGMENTATION
By Type
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Leather and Allied Products: Leather and allied products account for around 35% of the global market, driven by luxury goods such as handbags, footwear, belts, and accessories. High-end leather goods remain in strong demand in North America and Europe, contributing more than 40% of luxury sales. Rising innovation in vegan and synthetic leather is also reshaping this segment, with eco-friendly alternatives expected to grow at more than 15% annually.
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Apparel: Apparel represents the dominant share of the market at approximately 65%, encompassing clothing items such as jackets, jeans, shirts, dresses, and sportswear. Growth is largely driven by fast fashion in Asia-Pacific, luxury apparel demand in Europe, and athleisure trends in North America. E-commerce penetration in apparel sales is above 20% annually, making it the fastest-growing channel in this segment.
Based on type the global market can be categorized into leather and allied products, apparel.
By Application
Based on application the global market can be categorized into online sales, offline sales.
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Online Sales: Online channels account for around 45% of the global apparel and leather products market, growing rapidly at over 18% annually due to the convenience of e-commerce platforms, mobile shopping apps, and social media-driven retail.
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Offline Sales: Offline channels dominate with about 55% of the market share, supported by brand outlets, department stores, and specialty retailers, as consumers still prefer in-store experiences for luxury and leather goods.
DRIVING FACTORS
Increasing Popularity of Online Shopping to help the Market Grow
The market for apparel and leather goods is expanding due in large part to the increasing popularity of internet shopping. Numerous factors, such as the ease of shopping from anywhere at any time, the capacity to compare goods and prices across a large number of retailers, and the availability of a wider selection of goods than are usually found in physical stores, are driving this shift in consumer behavior. E-commerce platforms are becoming more and more significant distribution channels for retailers of clothing and leather items as more customers choose to shop online. Retailers are making investments to improve their online shopping experiences, provide personalized product recommendations, and streamline checkout procedures in order to take advantage of this trend.
Growing Disposable Incomes are Driving Up Demand for the Market
Individuals' greater spending power has led to a rise in the demand for luxury products. These products frequently provide people with a sense of success and boost their self-esteem. Because their household incomes are higher, Europeans and North Americans are renowned for spending the most on luxury goods. This issue is also showing signs of improvement in the Asian region. One significant component of luxury goods is leather products. Rich people are drawn to luxury leather goods, such as high-end purses, shoes, and accessories. Within the personal luxury market, the fastest-growing product category that appeals to affluent consumers is leather products.
RESTRAINING FACTOR
A Negative Impact of Leather Production on the Environment to Limit Market Growth
The environmental effect of leather production is a major impediment to the apparel and leather products market growth. The tanning process, which is required to transform raw hides into usable leather, produces a considerable amount of hazardous waste, which includes chromium, formaldehyde, and other dangerous substances. These compounds have the potential to poison water supplies, harm aquatic life, and contribute to air pollution. Furthermore, raising cattle for leather manufacture necessitates a significant quantity of land, water, and feed, which can result in deforestation, water scarcity, and greenhouse gas emissions. Consumers are progressively migrating away from leather items in favor of more sustainable alternatives as they become more aware of the environmental impact of their purchase decisions.
APPAREL AND LEATHER PRODUCTS MARKET REGIONAL INSIGHTS
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North America
North America to Dominate the Market owing to Well-Established Industry Infrastructure
North America dominates the worldwide apparel and leather products market share, owing to a mix of factors such as strong consumer demand, a well-established industry infrastructure, and a favorable regulatory environment. The region's high discretionary income levels, fashion-conscious consumer base, and a wide network of retail outlets all contribute to North America's supremacy in this sector. Furthermore, the existence of major apparel and leather goods firms such as Nike, and Levi Strauss & Co., solidifies North America's position as a global leader in this industry.
KEY INDUSTRY PLAYERS
Key Industry Players Shaping the Market through Innovation and Market Expansion
Market players in the business place a premium on innovation and product development that is adapted to consumer needs, as well as sophisticated technical adaptability. To meet rising demand, manufacturers and developers are introducing new footwear, clothes, and purses. Nike, Adidas, and other leading fashion houses are changing the apparel and leather products market through a combination of innovation, sustainability, and strategic expansion.
List of Market Players Profiled
- Nike Inc. (U.S.)
- Christian Dior SE (France)
- Adidas AG (Germany)
- Kering SA (France)
- VF Corp (U.S.)
- Hanesbrands Inc (U.S.)
- Puma SE (Germany)
INDUSTRIAL DEVELOPMENT
January 2022: Mensa is a new menswear brand developed by Thraiso Group, a leading apparel and footwear manufacturer. The brand is positioned as a high-end, modern menswear label with an emphasis on quality, workmanship, and sustainability.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
Attributes | Details |
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Historical Year |
2020 - 2023 |
Base Year |
2024 |
Forecast Period |
2025 - 2034 |
Forecast Units |
Revenue in USD Million/Billion |
Report Coverage |
Reports Overview, Covid-19 Impact, Key Findings, Trend, Drivers, Challenges, Competitive Landscape, Industry Developments |
Segments Covered |
Types, Applications, Geographical Regions |
Top Companies |
Nike Inc., Christian Dior SE, Adidas AG |
Top Performing Region |
North America |
Regional Scope |
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Frequently Asked Questions
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What value is the Apparel and Leather Products expected to touch by 2034?
The Apparel and Leather Products is expected to reach USD 5677.96 billion by 2034.
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What CAGR is the Apparel and Leather Products expected to exhibit by 2034?
The Apparel and Leather Products is expected to exhibit a CAGR of 7.9% by 2034.
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What are the driving factors of the apparel and leather products market?
The driving factors of the apparel and leather products market are growing internet buying drives market development and growing disposable incomes are driving up demand for luxurious apparel and leather goods.
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What are the key apparel and leather products market segments?
The key market segmentation that you should be aware of, includes, by type leather and allied products, apparel, and by application online sales, and offline sales.
Apparel and Leather Products Market
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