According to a new report ‘Non-leather Products – Global IndustryAnalysis, Size, Share, Growth, Trends, and Forecast, 2018–2026, published byTransparency Market Research (TMR) the global non-leather products market was valued at around US$250 Bn in 2017 and is anticipated to expand at a CAGR of 5.61% from 2018 to2026. Rise in demand for cost-effective and stylish products is driving theglobal market. In terms of value, the market in Asia Pacific is expected toexpand at a CAGR of 6.4% during the forecast period.
Footwear Segment to Dominate Global Non-leatherProducts Market
Footwear is the major segment of the non-leather products market. It isestimated to propel the non-leather products market during the forecast period.Non-leather products are preferred over traditional leather products. Footwearis made up of synthetic leather, vegan leather, composites, rubber, etc.Handbags and wallets also accounts for key share of the global non-leatherproducts market. The handbags and wallets segment is driven by the rise indemand for these in the fashion industry. Women are the prominent users ofhandbags and wallets. Handbag is an integral part of a woman’s outfit.Different Handbags and wallets are used for different occasions. Non- leatherproducts look good, and are available in large variety and colors. The luggagebags segment also constitutes important share of the non-leather productsmarket.
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Wide Customer Base in Developing Countries toPresent Growth Opportunities
Based on region, the global non-leather products market has been dividedinto North America, Europe, Asia Pacific, Latin America, and Middle East &Africa. North America and Asia Pacific hold major share of the globalnon-leather products market, as most of the companies in these regions are wellestablished and export almost 90% of their products. Asia Pacific constitutessignificant share of the global market. Rise in disposable income of the peopleand presence of major players in developing economies such as China, Japan, andIndia are projected to boost the market in Asia Pacific during the forecastperiod. The non-leather products market in Europe is estimated to expand at asignificant pace during the forecast period, led by the increase in demand forvegan products in countries in the region. The non-leather products market inLatin America and Middle East & Africa is expected to expand at a moderatepace in the near future.
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Key players operating in the global non-leather products market are PouChen Corporation, Nike, Inc., PUMA SE, Adidas AG, ASICS Corporation, SamsoniteInternational S.A., The LVMH Group, VF Corporation, VIP Industries Ltd.,Gabriel A/S, Inditex Group, Dicitex Furnishing, Kvadrat A/S, MATT & NAT,Delsey SA, and Decathlon Group.
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