Apparel and Leather Products Market Size was valued at USD 962.5 Billion in 2022. The apparel and leather products market industry is projected to grow from USD 1038.5 Billion in 2023 to USD 1908.06 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.90% during the forecast period (2023 - 2032). Major market drivers fueling the apparel and leather products market growth include rising disposable incomes, particularly in emerging nations, growing urbanization, and rising middle class populations.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The market for apparel leather products is anticipated to expand as a result of rising online shopping demand. The market will expand as a result of manufacturers' increased ability to offer their goods on a wider range of platforms than before. E-commerce portals, for instance, have increased the sales of traditional clothing in nations like India by increasing the exposure of makers who were formerly restricted to a single geographic area where the weaving community was located.
Customers are being encouraged to choose sustainable materials as they become more conscious of the damaging effects the textile industry has on the environment. Because they are created from petroleum resources, synthetic fibers disintegrate slowly compared to natural materials. Clothing is made from biological materials with tensile strength and low weight, such as spider silk. A synthetic equivalent of spider silk is also being produced by several businesses. For instance, Spiber Inc., a Japanese biomaterials expert, was the first to create synthetic spider silk. The business makes the silk proteins needed to make silk fibers by genetically modifying E. coli. Moreover, the demand for sustainable materials is anticipated to rise as consumers' concerns about the environmental impact of their clothes purchases spread across the globe. Furthermore, there are chances for better profit margins at the point of sale and throughout the supply chain because consumers are frequently more prepared to pay extra for products they believe to be environmentally friendly.
The expansion of the apparel and leather products market share is greatly influenced by creative marketing techniques. Over the past two decades, the fashion business has advanced quickly, mostly because more and more consumers, particularly in emerging countries, are becoming fashion-conscious. Instead of using television, the majority of suppliers of luxury leather goods, including LVMH, Hermès, and CHANEL SAS, market their wares in fashion journals and newspapers. Manufacturers of leather goods use a variety of marketing techniques to increase their clientele. Celebrity endorsement is a well-liked marketing strategy that businesses employ to enhance their reputation and boost sales of high-end apparel and leather products. For instance, LVMH uses celebrity endorsements in its marketing campaigns for its goods, including those of Uma Thurman, Scarlett Johansson, Jennifer Lopez, and Kate Moss. Major athletic activities including yachting and motorsports are sponsored by Louis Vuitton. Keira Knightley, Vanessa Paradis, and Nicole Kidman all support the leather products sold by CHANEL. Another crucial component of marketing tactics is online advertising. Vendors frequently get into multiyear endorsement contracts with well-known celebrities in order to raise the value of their brand. The demand for apparel and leather products rises in response to these marketing campaigns. Thus, driving the apparel and leather products market revenue.
The apparel and leather products market segmentation, based on end user includes Men, Women and Kids. The women segment dominated the market. Increased expenditure on clothing due to an increase in the number of working women is anticipated to boost category growth in the upcoming years. Additionally, because to the increasing participation of women in the workforce, the main manufacturers in this market are focusing on the introduction of new designs and styles in formal wear.
The apparel and leather products market segmentation, based on type includes Leather and Allied Products and Apparel. The leather and allied products segment dominated the market. Manufacturers of apparel and leather products convert hides into leather by tanning or curing them and assembling the final goods. They also create products that are similar using materials other than leather, such as rubber, polymers, or textiles (excluding clothing).
The apparel and leather products market segmentation, based on distribution channel, includes Online Sales and Offline Sales. The online sales category generated the most income. The market for apparel and leather products is anticipated to expand as internet shopping becomes increasingly popular. As a result of manufacturers' increased ability to offer their goods on a wider range of platforms than before, the market for apparel and leather products is expected to develop.
Figure 1: Apparel and Leather Products Market, by Distribution channel, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American apparel and leather products market area will dominate this market driven by an increase in consumers who are aware of the availability of fashionable and comfortable clothing. The region's men are gradually getting more knowledgeable about the newest fashion trends. This should consequently boost the market potential for manufacturers.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: APPAREL AND LEATHER PRODUCTS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe apparel and leather products market accounts for the second-largest market share as a result of expanding consumer demand for women's clothes and rising fashion and luxury clothing expenditures in the UK, France, and Germany. Sales of e-commerce shopping in Europe have increased as a result of the customers' willingness to buy clothing, footwear, and other items for personal use. Further, the German apparel and leather products market held the largest market share, and the UK apparel and leather products market was the fastest growing market in the European region
The Asia-Pacific Apparel and Leather Products Market is expected to grow at the fastest CAGR from 2023 to 2032. The market for apparel and leather products is anticipated to expand as internet shopping becomes more popular. The market will expand as a result of manufacturers' increased ability to offer their goods on a wider range of platforms than before. E-commerce portals, for instance, have increased the sales of traditional clothing in nations like India by increasing the exposure of makers who were formerly restricted to a single geographic area where the weaving community was located. Moreover, China’s apparel and leather products market held the largest market share, and the Indian apparel and leather products market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the apparel and leather products market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, apparel and leather products industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the apparel and leather products industry to benefit clients and increase the market sector. In recent years, the apparel and leather products industry has offered some of the most significant advantages to medicine. Major players in the apparel and leather products market are attempting to increase market demand by investing in research and development operations includes Adidas AG; Nike, Inc.; Puma SE; Fila, Inc.; New Balance Athletics, Inc.; Knoll, Inc.; Samsonite International S.A.; VIP Industries Ltd.; Timberland LLC; Johnston & Murphy; Woodland Worldwide; Hermès International S.A.; Louis Vuitton Malletier; VF Corporation; COLLAR Company; LUCRIN Geneva; Nappa Dori; Saddles India Pvt. Ltd.; and Lear Corporation.
Travel luggage is sold by Samsonite International SA (Samsonite). It provides baggage designs, manufacturing, procurement, and distribution as well as computer bags, travel accessories, casual and outdoor bags, and luggage. Samsonite additionally offers sleek protection cases for personal electrical gadgets. It sells its goods under the names Tumi, Kamiliant, eBags, Hartmann, Lipault, Samsonite, American Tourister, Gregory, and High Sierra, among other brands. Samsonite sells its goods through a number of retail locations, e-commerce sites, and distribution networks.
Hermes International SA (Hermes) manufactures, distributes, and sells a range of upscale goods. Bags, clutches, small leather products, saddles, bridles, briefcases, luggage, equestrian items, and clothing are among the company's product offerings. Additionally, it sells furniture, lighting, furnishing materials, dinnerware, carpets, silk and textiles, wallpaper, decorative items, perfumes, watches, as well as belts, hats, jewelry, gloves, and other fashion accessories.
Key Companies in the apparel and leather products market include
Apparel and Leather Products Industry Developments
Mat 2022: Fendace, the result of a partnership between Versace and Fendi, is now available in stores. Versace by Fendi and Donatella Versace's Fendi by Versace collection were both part of the relationship. Clothing, shoes, and accessories were among the items that were part of the Fendace cooperation.
May 2022: In order to develop a digital platform to investigate new business potential in North America, Lanvin and Shopify Inc. recently announced their cooperation. The company will be able to concentrate on the products and consumers thanks to the new digital platform powered by Shopify, which will help its future growth.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 962.5 Billion |
| Market Size 2023 | USD 1038.5 Billion |
| Market Size 2032 | USD 1908.06 Billion |
| Compound Annual Growth Rate (CAGR) | 7.90% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | End User, Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Adidas AG; Nike, Inc.; Puma SE; Fila, Inc.; New Balance Athletics, Inc.; Knoll, Inc.; Samsonite International S.A.; VIP Industries Ltd.; Timberland LLC; Johnston & Murphy; Woodland Worldwide; Hermès International S.A.; Louis Vuitton Malletier; VF Corporation; COLLAR Company; LUCRIN Geneva; Nappa Dori; Saddles India Pvt. Ltd.; Lear Corporation |
| Key Market Opportunities | · Growing consumer desire for ethical and sustainable goods |
| Key Market Dynamics | · Rising disposable incomes, especially in emerging markets · Increased urbanization, and an increase in the number of middle-class people |
Frequently Asked Questions (FAQ) :
The apparel and leather products market size was valued at USD 962.5 Billion in 2022.
The market is projected to grow at a CAGR of 7.90% during the forecast period, 2023-2032.
North America had the largest share in the market
The key players in the market are Adidas AG; Nike, Inc.; Puma SE; Fila, Inc.; New Balance Athletics, Inc.; Knoll, Inc.; Samsonite International S.A.; VIP Industries Ltd.; Timberland LLC; Johnston & Murphy; Woodland Worldwide; Hermès International S.A.; Louis Vuitton Malletier; VF Corporation; COLLAR Company; LUCRIN Geneva; Nappa Dori; Saddles India Pvt. Ltd.; and Lear Corporation.
The women category dominated the market in 2022.
The online channel category had the largest share in the market.
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