Middle East Luxury Leather Goods Market, By Product (High-, Low-Grade, Mid-Grade), Application (Men and Women), Distribution Channel (Offline Retail Stores and Online Retail Stores), Country (Saudi Arabia, UAE, Iran, Israel, Qatar, Rest of Middle East) Industry Trends and Forecast to 2027
The demand for luxury leather goods in Middle East is projected to grow at a CAGR of 3.2% in the forecast period of 2020 to 2027. The luxury leather goods market report analyses the growth currently rising due to the demand for customized and personalized leather goods to cater high-end and premium customer segment.
Luxury leather goods include varieties of bags, suitcases, wallets, apparel, footwear, and other accessories. Buying expensive luxury leather products has now become a symbol of status. Customers agree to spend limitlessly to buy the premium leather goods of big brands as they think that expensive products are of better quality and can satisfy their self-esteem. The luxury leather goods segment caters only to high-income customers. Customers also prefer leather goods because of its quality of dustproof, fireproof, crack-proof, and durability. The consumers in countries such as Saudi Arabia in the Middle East prefer luxury goods over conventional ones, due to their high purchasing power.
The fashion industry is flourishing the market of leather goods, as the demand for handbags, wallets, jackets, footwear, belts, and other fashion accessories are continuously increasing among men and women. Due to this increased demand brands are expanding their product portfolio to provide and attract their customers with a wide range of products.
Now it’s become a trend to provide personalized and customized services to the high-end and premium customers, for attracting them. Owing to these customized services there are ample opportunities for the leather industry to increase their business. Also, the latest technologies such as 3D printing and robotics are helping the companies to produce fine leather in less time. The working professionals and millennial population in the Middle East region are richer than average and their willingness to buy luxury leather goods is stronger which will drive the growth of this market in the future.
However, most leather is produced by animal skins, which are attracting the attention of the people who work for the environment and animal. And rising concerns towards animal killing have certainly affected the demand for the leather goods market.
Also, the main challenge that Middle East players face is the lack of luxury leather brand awareness among the consumers. Also, the consumers in Middle East are now paying more attention towards the worth of the product rather than the brand name.
This luxury leather goods market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on luxury leather goods market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Luxury Leather Goods Market Scope and Market Size
Luxury leather goods market is segmented on the basis of product, distribution channel, and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product, the luxury leather goods market is segmented into low-grade, high-grade and mid-grade
- Based on distribution channel, the luxury leather goods market is segmented into offline retail stores and online retail stores
- On the basis of application, the luxury leather goods market is segmented into men and women
Luxury Leather Goods Market Country Level Analysis
Luxury leather goods market is analysed and market size, volume information is provided by country, product and application as referenced above.
The countries covered in the Middle East luxury leather goods market report are Saudi Arabia, UAE, Iran, Israel, Qatar, rest of Middle East.
Saudi Arabia and Iran are the largest producers of leather in the Middle East region. The demand for luxury leather goods is rising due to the increase in the number of working professionals and the millennial population in the Middle East region. Their willingness to buy luxury leather goods is stronger. UAE is one of the most attractive countries in the Middle East and due to urbanization it holds a significant market share of the luxury leather goods market in the region. Abu Dhabi and Dubai are also holding a significant market share of this market.
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 such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Middle East 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.
Competitive Landscape and Luxury Leather Goods Market Share Analysis
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 luxury leather goods market.
The major players covered in the luxury leather goods market report are Burberry, COACH IP HOLDINGS LLC, DIOR, Goldlion, GIVENCHY, Guccio Gucci S.p.A, Kate Spade, Longchamp, Mulberry, Michael Kors, CAPRI HOLDINGS LIMITED, 31 Phillip Lim, Proenza Schouler, Stella International Holdings Limited, River Light V, L.P., Valentino S.p.A, Derek Alexander Leather, LVMH, Hermès, PRADA SPA, Charlotte Olympia Holdings Limited, Dolce and Gabbana S.r.l among other domestic and global players. Market share data is available for global, North America, Middle East, Asia-Pacific (APAC), Middle East and Middle East (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Middle East Luxury Leather Goods Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.