FACTS AT A GLANCE
Editing: 6; Posted: April 2021
Executive pool: 1792
Companies: 41 – Players covered include Adidas AG; Hermès International SA; Kering SA; LVMH Moët Hennessy – Louis Vuitton; Nike, Inc .; VF Corporation et al.
Blanket: All major geographies and key segments
Segments: Segment (shoes, luggage, bags, wallets and handbags, other segments)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; Spain; Russia; and rest of Europe); Asia Pacific (Australia; India; South Korea; and rest of Asia Pacific); Latin America (Argentina; Brazil; Mexico; and rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and rest of Middle East); and Africa.
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Global leather goods market to reach $ 297.2 billion by 2026
In the midst of the COVID-19 crisis, the global leather goods market is estimated at US $ 241.3 billion in 2020, is expected to reach a revised size of US $ 297.2 billion by 2026, with a CAGR of 3.5% over the analysis period. Footwear, one of the segments analyzed in the report, is expected to register a CAGR of 3.6% and reach 106 billion dollars at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Baggage segment is readjusted to a revised CAGR of 3% for the next 7 year period.
The US market is estimated at $ 67.1 billion in 2021, when China is expected to reach $ 60.4 billion by 2026
The leather goods market in the United States is estimated at US $ 67.1 billion in 2021. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 60.4 billion by 2026, with a CAGR of 6.3% over the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 1% and 2.6% respectively over the analysis period. In Europe, Germany is expected to grow at around 1.7% CAGR.
Bag segment to reach 58 billion US dollars by 2026
In the global Bags segment, United States, Canada, Japan, China and Europe will lead to the estimated 3.4% CAGR for this segment. These regional markets representing a combined market size of US $ 34.5 billion in 2020 will reach a projected size of US $ 43.7 billion before the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Following
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