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

Europe Luxury Leather Goods Market – Industry Trends and Forecast to 2030, By Product (High-Grade, Low-Grade, Mid-Grade), Application (Men, Women), Distribution Channel (Offline Retail Stores and Online Retail Stores) – Industry Trends and Forecast to 2030.

Europe 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 Europe luxury leather goods market which was USD  139,160.88  million in 2022, would rocket up to USD 235,552.22 million by 2030, and is expected to undergo a CAGR of 6.80% during the forecast period of 2023 to 2030. High Grade segment is expected to be the growing segment in this market due to rise in demand for purses, wallets, jackets etc. 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 behaviour.

Europe Luxury Leather Goods Market Scope and Segmentation

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.

Europe 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 European nations as a result of rapid urbanisation. Urban dwellers seek out expensive leather goods as a sign of status and fashion, which helps the market expand.

Opportunities

• Untapped market potential

The European 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 Europe

The rise in affluent tourists visiting Europe creates a favourable 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 European market. Brands may need to adapt and customise 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 Development

• On March 2022, The European Leather and Leather Products Institute and the Leather and Hide Council of America have joined forces to launch the Real Leather. Maintain your uniqueness. European 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 Europe

Europe Luxury Leather Goods Market Scope

The Europe luxury leather goods market is segmented on the basis of product, application and distribution channel. The growth amongst these segments will help you analyse 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.

PRODUCT

• High- Grade
• Low-Grade
• Mid-Grade

APPLICATION

• Men
• Women

DISTRIBUTION CHANNEL

• Offline Retail Stores
• Online Retail Stores

Europe Luxury Leather Goods Market Regional Analysis/Insights

Europe luxury leather goods market is analysed and market size insights and trends are provided by product, application, and distribution channel as referenced above.

The countries covered in the Europe luxury leather goods market report Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, and Rest of Europe

Germany is expected to dominate the Europe luxury leather goods market rapidly growing middle class and a large consumer market, making it an attractive destination for luxury brands. U.K. is expected to be the fastest growing country in this market due to rise in demand for purses, wallets etc., and increase in disposable income.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Europe Luxury Leather Goods Industry Growth and New Technology Penetration

The Europe luxury leather goods market also provides you with detailed market analysis for every country growth in Europe luxury leather goods industry, installed new production plant, impact of technology using life line curves and changes in Europe luxury leather goods regulatory scenarios and their impact on the Europe luxury leather goods market. The data is available for historic period 2015-2020.

Competitive Landscape and Europe Luxury Leather Goods Market Share Analysis

The Europe luxury leather goods market competitive landscape provides details by competitor. 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 the market.

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

• Burberry (United Kingdom),
• COACH IP HOLDINGS LLC (North America),
• DIOR (Paris),
• Goldlion(Hong Kong),
• GIVENCHY (France)