Apparel or clothing is a term for items worn on the body which is made by fabrics or textiles. Apparel products include various products such as shirts, hosiery & socks and sweaters etc. They also include cut-and-sew clothing items like suits, dresses, and trousers. Leather is a durable & flexible material which is considered as a luxury product including footwear, bags, luggage, wallets & purses, and other accessories. The price of leather products are high due to high price of final good, high number of activities involved in converting raw materials to a finished good, and increased manufacturing costs.
According to study, “Apparel And Leather Products Global Market Report 2019” some of the key companies that currently operating in the global apparel and leather products market are NIKE Inc., Ralph Lauren, Belle, Burberry, H&M AB, Levi Strauss Co., Christian Dior SE, Hanesbrands, PVH, VF Corp, LVMH, Adidas AG, Prada S.p.A, Louis Vuitton, Richemont Group, Hermes International S.A., Samsonite International S.A., Coach, Inc., Delsey S.A., Kering SA, Tumi Holdings, Inc., VIP Industries Limited, Hugo Boss, Daphne, Ferragamo, MANWAH, AoKang, Natuzzi, C. banner, Ekornes, Red Dragonfly, Garrett Leather, Winter Company, Jinjiang Guotal Leather , Buckskin Leather Company, SKM LLC, ANTIC CUIR, CHINBAR, Amway, Shandong Jinfeng Artificial Leather Co., Ltd., PELER ITALIA Srl, Arora Vinyl Pvt. Ltd., Anhui Anli Material Technology Co., Ltd., R. Polycoats Pvt. Ltd., Filwel Co. Ltd, Mayur Uniquoters Limited, Kuraray Co., Ltd., San Fang Chemical Industry Co., Ltd., Nan Ya Plastics Industrial Co., Ltd., Toray Industries Inc., Teijin Limited, Zhejiang Hexin Industry Group Co., Ltd., Yantai Wanhua Synthetic Leather Group Co., Ltd.
Based on type, global apparel and leather products market is segmented into apparel manufacturing and leather & allied products. Leather & allied products are further sub-segmented into leather luggage, non-leather luggage, leather footwear, non-leather footwear, leather tanning and hand bags (travel bags, business bags and casual bags) & other goods. Based on product types, market is segmented into synthetic leather, genuine leather and bio-based leather (buffalo hide, deer skin, sheep & goat skin and hog skin). Based on mode of sale, market is segmented into retail stores and online stores. Based on application, market is segmented into medical, fashion entertainment and others (transportation, military, sports & fitness). Furthermore, based on end-user, market is segmented into men’s wear, women’s wear and kids wear.
The global apparel and leather products market is driven by growth in disposable income & living standards, followed by rise in domestic & international tourism, change in fashion trends and increase in working women population. Apart from key driving factors, few of the hindering factors include counterfeit products and animal cruelty & environmental effects of leather. Moreover, increase in awareness about branded products is further adding to a major opportunity for the market.
Based on geography, Asia-Pacific region is a one of the major market, followed by Western European region for apparel and leather products market owing to increase in availability of abundant raw material, availability of cheap & skilled labor, and supportive domestic market supporting the market growth in the region. It is anticipated that the over the forecast period market is expected to be bright due to rise in supporting institutions for the industrial developments.
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Ankur Gupta, Head Marketing & Communications