India Leather Goods Market research report, 2028

India Given that Indian consumers are always looking for designs that set them apart from the competition, the leather goods business is one of the most lucrative in the world. The development of the Indian leather products business has been guided by defining craftsmanship, imaginative designs, and conscientious consumers. A diverse range of people, including entrepreneurs and teenagers, high-society women, and tourists looking for durable and spacious leather goods, are seen wearing leather goods today. To help the nation's footwear industry, the Indian government has taken many actions. When leather was first created, tanning the hide or skin required a lot of time and labour. Before modern technology, it used to take weeks or months to process leather and turn it into finished products. High quality, diversity, and consistency are requirements for leather items due to consumer preferences and demand. Scientific concepts have been included in the business model of the Indian leather industry as a result of the industry's successful start. Leather goods are increasingly being seen as a fashion statement in India, with consumers looking for stylish and trendy products that reflect their personality and lifestyle. This has led to a surge in demand for premium and luxury leather goods brands. According to the research report "India Leather Goods Market research report, 2028," published by Actual Market Research, the India Leather Goods Market is anticipated to add more than USD 9.8 billion from 2023 to 2028. Due to its toughness and upscale appearance, leather is increasingly used in the fashion industry and is a great material for clothing manufacture. This is one of the main variables influencing the market's current demand for leather. Additionally, fashion shows that feature leather items like jackets, shoes, bags, and other accessories are helping to increase the popularity of leather goods during the forecast period. To satisfy consumer demand and keep a devoted customer base, market participants are launching cutting-edge and fashionable products, which are assisting the market's expansion. Customers also favour leather luggage and accessories that are stylish and compact. Men's accessories like leather gloves, bracelets, and necklaces are getting more and more fashionable as a result of shifting fashion trends. Thus, it is likely that fashion trends will change significantly in the years to come, which will aid in the industry's expansion. Furthermore, the leather industry is receiving more government support, which is accelerating market expansion.

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Based on type the market is segmented into genuine leather and synthetic leather. The market is being dominated by genuine leather, which has the highest market share. The synthetic leather market is expected to grow at the highest CAGR in the upcoming time period. Compared to conventional leather, synthetic leather is typically more durable and resistant to wear and tear. It is a preferred material for items like purses, shoes, and coats since it is easier to maintain and clean. Additionally, there is a rising demand for eco-friendly products as consumers become more conscious of the environmental impact of their purchasing decisions. Synthetic leather is frequently regarded as being more environmentally friendly than real leather because it is made without the use of animal hides. For customers looking for the appearance and feel of leather at a lower price range, synthetic leather is frequently less expensive than real leather. Based on product, the market is divided into footwear, handbags, Small Leather Goods/ Accessories Apparel, Home Décor and Furnishing Pet Accessories, Automotive Accessories, luggage & bags. Among them the handbags is expected to grow with highest period during the anticipated period. High-quality leather handbags are known for their long-lasting functionality and durability. Consumers in the United Kingdom are ready to invest in high-quality handbags constructed of high-quality materials and built to last for many years. Handbags are flexible accessories that may be used for everything from carrying everyday necessities to accessorising formal attire. This versatility has contributed to the continued appeal of handbags among consumers, resulting in a wide range of handbag styles and sizes on the market. Handbags are made to be practical, with various sections and pockets for storing and organising personal items. According to the research, the market is divided into speciality stores, supermarkets and hypermarkets, brand outlets, and online stores, depending on the distribution channel. The market is dominated by specialty stores, which have the largest market share. Specialty stores often specialise in one or two types of leather items, such as footwear, handbags, or jackets. This concentration enables them to establish a high level of product understanding, allowing them to provide professional advice and help to customers when making a purchase. Furthermore, compared to general retailers, specialty stores frequently offer a broader range of products within their category. Customers can then find exactly what they're seeking and explore new product possibilities within their sector of interest.

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Kripa Shah

Senior Analyst

Considered in this report • Geography: India • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • India Leather Goods market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type • Genuine Leather • Synthetic Leather

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By Product • Footwear • Handbags • Small Leather Goods/ Accessories • Apparel • Home Décor and Furnishing • Pet Accessories • Automotive Accessories • Luggage & bags By Distribution Channel • Speciality Store • Supermarkets and Hypermarkets • Brand Outlets • Online Stores • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Leather Goods industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.