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Africa Luxury Leather Goods Market – Industry Trends and Forecast to 2030

FMCG

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Africa Luxury Leather Goods Market – Industry Trends and Forecast to 2030

  • FMCG
  • Upcoming Report
  • Jul 2023
  • Country Level
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Africa Luxury Leather Goods Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 93,521.19 USD Million
Diagram Market Size (Forecast Year) USD 164,326.57 USD Million
Diagram CAGR %

Major Markets Players

  • Okapi
  • MaXhosa Africa
  • Loin Cloth & Ashes
  • Kumesu
  • Malian Collection

Africa Luxury Leather Goods Market – Industry Trends and Forecast to 2030, By Product (High-Grade, Low-Grade, Mid-Grade), Application (Men and Women), Distribution Channel (Offline Retail Stores and Online Retail Stores), Country (Nigeria, Egypt, South Africa, Algeria, Morocco and Rest of Africa) – Industry Trends and Forecast to 2030.

Africa Luxury Leather Goods Market Analysis and Size  

Wallets, suitcases, clothing, shoes, and other accessories are all available in luxurious leather. Buying expensive luxury goods made of animal skin is now a sign of social standing. Customers continue to pay exorbitant prices for premium animal skin products from well-known brands because they believe they are of higher quality and can satisfy their shallowness.

Data Bridge Market Research analyses that the Africa luxury leather goods market which was USD    93,521.19 million 2022, would rocket up to USD 164,326.57 million by 2030, and is expected to undergo a CAGR of 7.3% during the forecast period of 2023 to 2030. Increasing disposable income is one of the driving factors for the luxury leather goods market in Africa. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behavior.

Africa Luxury Leather Goods Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Pricing in USD

Segments Covered

By Product (High-Grade, Low-Grade, Mid-Grade), Application (Men and Women), Distribution Channel (Offline Retail Stores and Online Retail Stores)

Countries Covered

Nigeria, Egypt, South Africa, Algeria, Morocco and the Rest of Africa

Market Players Covered

Okapi (South Africa), MaXhosa Africa (South Africa), Loin Cloth & Ashes ( Kenya), Kumesu ( Kenya ), Malian Collection (Mali ), AAKS ( Ghana ), Sindiso Khumalo (South Africa), Laurenceairline (Ivory Coast), Mantsho ( South Africa ), Adèle Dejak (Kenya)

Market Opportunities

  • Untapped market potential
  • Increasing tourism In Africa

Market Definition

Handbags, luggage, and briefcases are included in the category of luxury leather goods, as well as smaller items like wallets. The market definition roughly aligns with the Accessories section of the Consumer Market Outlook's segment, Luggage and Bags. Luxury Leather Goods only cater to the luxury market, which is the only distinction.

Africa Luxury Leather Goods Market Dynamics

Drivers

  • Rising disposable income

The demand for upscale leather goods is being driven by the rising disposable income of the continent's middle class. People can purchase more expensive goods as their purchasing power increases.

  • Growing urbanization

A middle class that is interested in fashion has emerged in African nations as a result of rapid urbanization. Urban dwellers seek out expensive leather goods as a sign of status and fashion, which helps the market expand.

Opportunities

  • Untapped market potential

The African luxury leather goods market is underserved, presenting significant growth opportunities for international luxury brands. Luxury brands can expand their presence and capture market share with a large consumer base and growing demand.

  • Increasing Tourism in Africa

The rise in affluent tourists visiting Africa creates a favorable market for luxury leather goods. Tourists frequently seek out unique and authentic luxury products, providing an opportunity for brands to meet this demand.

Restraints/Challenges

  • Cultural presence

Local preferences for traditional and handmade products may pose a challenge for luxury leather goods brands looking to establish a presence in the African market. Brands may need to adapt and customize their offerings to meet cultural preferences and local craftsmanship traditions.

  • Availability of counterfeit products

The industry for genuine luxury leather goods is challenged by the availability of fake products on the market. In addition to damaging brand reputation and consumer trust, counterfeit products can cost legitimate manufacturers money.

Recent Developments

  • On March 2022, The African Leather and Leather Products Institute and the Leather and Hide Council of America joined forces to launch the Real Leather. Maintain your uniqueness. African Talent Leather Design Showcase 2023. The new partnership, which commits to educating the next generation of creatives, aims to reshape education around the production and use of sustainable leather across Africa.
  • On August 2021, Leather handbags were a part of Winston Leather's heritage, not just a statement fashion accessory. He told Insider that he is descended from a long line of leather suppliers in Kano, Nigeria, a city in the country's northern region known as a leather manufacturing capital.

Africa Luxury Leather Goods Market Scope

The Africa luxury leather goods market is segmented on the basis of product, application and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

By Product

  • High- Grade
  • Low-Grade
  • Mid-Grade

By Application

  • Men
  • Women

By Distribution Channel

  • Offline Retail Stores
  • Online Retail Stores

Competitive Landscape and Africa Luxury Leather Goods Market Share Analysis

The Africa luxury leather goods market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Africa luxury leather goods market.

Some of the major players operating in the Africa luxury leather goods market are:

  • Okapi (South Africa)
  • MaXhosa Africa (South Africa)
  • Loin Cloth & Ashes ( Kenya)
  • Kumesu ( Kenya )
  • Malian Collection (Mali )
  • AAKS ( Ghana )
  • Sindiso Khumalo (South Africa)
  • Laurenceairline (Ivory Coast)
  • Mantsho ( South Africa )
  • Adèle Dejak (Kenya)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The Africa Luxury Leather Goods Market will be worth USD 164,326.57 million by 2030.
The Africa Luxury Leather Goods Market Growth rate is 7.3% during the forecast period.
Growing urbanization and Rising disposable income are the Growth Drivers of the Africa Luxury Leather Goods Market .
The product, application, and distribution channel are the factors on which the Africa Luxury Leather Goods Market research is based.
The Leather handbags were a part of Winston Leather's heritage, not just a statement fashion accessory The African Leather and Leather Products Institute and the Leather and Hide Council of America joined forces to launch the Real Leather. Maintain your uniqueness are the latest developments in the Africa Luxury Leather Goods Market.
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