Middle East Leather Goods Market Growth, Share, Size, Trends, Industry Demand, Revenue, Challenges, Business Opportunities, Key Manufacturers and Future Outlook 2033: SPER Market Research
Leather products are articles made from leather. They can take the form of clothing, footwear, purses, gloves, and other items. Leather items are preferred over other materials due to their dustproof, fireproof, and long-lasting properties. The increasing need for leather in apparel manufacture is driving market expansion.
According to SPER market research, ‘Middle East & Africa Leather Goods Market Size- By Product Type, By Leather Type, By Distribution Channel, By Grade- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Middle East & Africa Leather Goods Market is predicted to reach USD 64.02 Billion by 2033 with a CAGR of 6.5%.
Middle East & Africa Leather Goods Market Driving Factors: The leather goods market in the Middle East and Africa is propelled by multiple causes. First off, the fashion industry’s growth is driving a growing demand for high-end and luxurious leather goods. Since designer and branded clothing is becoming more and more popular among High-Net-Worth Individuals (HNWIs) in important markets like the U.S., France, and China, more and more consumers are looking for high-quality leather items to make a fashion statement.
Second, the market is gaining from the inexpensive and robust design of goods made of synthetic leather. Faux leather, another name for synthetic leather, has several benefits, including low cost, a wide range of colour possibilities, minimal upkeep, and longevity. Due to their affordability and durability, materials including recycled PET polyester, pleather, vegan leather, and Naugahyde are becoming more and more popular.
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The desire for stylish, comfortable leather clothing, accessories, and shoes is also on the rise. Products made of leather are becoming more and more popular than those made of other materials because of their exceptional qualities and longevity, such as their resistance to fire and dust. The demand for leather goods is increasing as a result of this trend in a number of sectors, including furniture, watches, gloves, bags, and footwear.
Middle East & Africa Leather Goods Market Challenges:
The Middle East and Africa leather goods market is facing a number of issues. Stringent government rules in Europe and the United States are forcing the closure of numerous tanneries and leather processing factories, limiting market growth. Furthermore, the scarcity of universities offering degrees in leather technology worsens the skills gap, hindering sectoral development. A lack of personnel and training facilities further impedes the manufacture of high-quality leather items, which is critical for industry success. Furthermore, the high cost and declining quality of real leather have prompted the hunt for alternatives, resulting in market saturation with lower-priced leather goods. This alters price dynamics and limits market growth. Additionally, government policies providing synthetic substitutes such as plastic leather add to the industry’s issues.
Impact of COVID-19 on Middle East & Africa Leather Goods Market
COVID Impact: The leather goods industry, like many others, faced difficulties during the Covid-19 pandemic. Lockdowns, travel restrictions, and economic uncertainty interrupted supply chains and harmed consumer spending. Several tendencies emerged during this period, though: As physical stores disappeared or faced constraints, e-commerce grew, boosting online leather goods sales. Due to distant work and decreased social engagements, there has been a shift towards casual and comfort clothes. Consumers are more concerned with sustainability, and they are looking for ethically sourced leather alternatives. Manufacturing interruptions and raw material shortages resulted in production and delivery delays.
Egypt, Saudi Arabia, the United Arab Emirates, South Africa, Israel, and the rest of the Middle East and Africa make up the leather products market. The United Arab Emirates dominates the Middle East and Africa leather goods market in terms of market share and revenue as a result of increased urbanisation and industrialization, which has led to economic growth.
Middle East & Africa Leather Goods Market Key Players:
Additionally, some of the market key players are Adidas AG, Aero Leather Clothing, American Leather, CAPRI HOLDINGS LIMITED, Others.
Middle East & Africa Leather Goods Market Segmentation:
By Product Type: Based on the Product Type, Middle East & Africa Leather Goods Market is segmented as; Apparel, Belts, Footwear, Handbags, Luggage, Wallets, Others.
By Leather Type: Based on the Leather Type, Middle East & Africa Leather Goods Market is segmented as; Bonded Leather, Faux Leather, Full Grain Leather, Split Grain Leather, Top Grain Leather.
By Distribution Channel: Based on the Distribution Channel, Middle East & Africa Leather Goods Market is segmented as; Company Franchised Stores, E-Commerce, Specialty Stores, Supermarkets/Hypermarkets, Others.
By Grade: Based on the Grade, Middle East & Africa Leather Goods Market is segmented as; High-Grade, Mid-Grade.
By Region: This research also includes data for Egypt, Israel, Saudi Arabia, South Africa, United Arab Emirates, Rest of Middle East & Africa.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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MEA Leather Goods Market Growth
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