Traditional Leather Market: Key Highlights
· Theglobal traditional leather market wasvalued at ~US$ 66.8 Bn in 2018 and is anticipatedto expand at a CAGR of ~3% during the forecast period
· Based onraw material, the bovine leather segment held a dominant share of the globaltraditional leather market in 2018, primarily due to high qualityand low price. It witnesses high demand from footwear and automobile segments.
· In terms ofend user, the footwear segment accounted for a major share of the globaltraditional leather market in 2018. There is a high demand fortraditional leather in footwear industries, due to its qualities such asdurability, rich look, and unique appearance.
· Based onfinishing type, the aniline segment constituted a significant share of theglobal traditional leather market in 2018, due to high demand fororiginal looking leather from consumers
· Thetraditional leather market in Asia Pacific is likely to expand at a substantialpace during the forecast period, owing to rapid urbanization andindustrialization in the region
Key Drivers of Traditional Leather Market
· Increasingdemand for traditional leather for its superior quality and appearance isboosting the demand for traditional leather across the globe. A key advantageof traditional leather is that it is unique, as no two hides are the same. Forinstance, cattle leather has unique marks, such as stretch marks, scars, andveins. Moreover, it has inconsistent pores, which give it a distinct look.However, synthetic leather is uniform and does not match with traditionalleather.
· Traditionalleather offers the advantage of durability. With proper care, traditionalleather can last for years without being damaged. Traditional leather is knownto sustain 25–30 years. However, life of synthetic leather is lower than thatof traditional leather. Traditional leather offers a luxurious look and issoft, comfortable, and lighter than synthetic leather. Synthetic leather is notbiodegradable, but traditional leather is biodegradable. This gives addedadvantage to traditional leather. Properties of traditional leather, such asluxurious feel, unique appearance, high durability, and biodegradability areexpected to drive the traditional leather market during the forecast period.
· Rise inutilization of waste from meat industry is expected to drive the globaltraditional leather market. In the past few years, the meat industry haswitnessed tremendous rise in meat consumption, due to more demand fromconsumers. This rise in demand for meat ultimately leads to higher productionof wastes, including skins and hides. The traditional leather industry recyclesskins and hides to produce leather. Thus, rising use of waste from the meatindustry is estimated to drive the global traditional leather market during theforecast period.
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Asia Pacific to Lead Traditional Leather Market
· AsiaPacific led the global traditional leather market in 2018, dueto rapid industrialization and presence of well-established manufacturing unitsof major automotive and footwear players in Asia Pacific. Consequently, theregion is anticipated to witness high demand for traditional leather during theforecast period.
· Countries,such as China, India, Japan, and Indonesia, are expected to drive thetraditional leather market in Asia Pacific, due to the presence of top globalleather manufacturers. Moreover, in recent times, Asia Pacific witnessedincreased per capita income and purchasing power in counties such as China andIndia, which has resulted in high demand for leather products.
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Traditional Leather Market: Competition Landscape
· Theglobal traditional leather market is led by multinational players operatingacross the globe
· Prominentplayers operating in the global traditional leather market are Rahman Group, Superhouse Group, Pakkar, KGLeathers, OzyUksel Leather Company, Koktaslar Leather, and Gruppo Mastrotto spa.
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