Leather Products Industry: From Necessity to Luxury

Have a look at how the leather industry has grown and you will find that leather products have transformed from necessities to luxury items. The global leather industry is ready to perk up after witnessing a considerable decline in retail sales.

A rise in the demand for leather items in different categories can be seen easily. The following sections highlight some of the major facts that have surfaced from the latest analysis of the industry.

Leather Industry Analysis
According to the latest analysis the European leather industry is estimated to have the worth of $29.5 billion by the year 2015. Some other expectations have been confirmed by the analysis carried out on the industry of leather products:

• The global leather industry is dominated by the Asia-Pacific region in the terms of leather production volume.
• China has grown as the largest leather and hide producer in the world with a large number of tanning facilities located in the country.
• Latin America is the fastest growing market in the world for the leather made products.

Contribution of Developing Nations
As far as the developing nations are concerned, countries like India are making huge efforts to attain leadership in the field of leather products export. Currently, the country accounts for 2 percent of the total leather trade in the world. The yea 2003-04 was favorable for the country, as it experienced the growth of 22.79 percent in leather footwear. Though, the rate declined in the upcoming years, it is again following a rise in the graph. In 2007-08 the growth rate was nearly 20 percent.

Germany, Italy and the UK are the three major markets for the leather products manufactured in India. Besides, United States and Japan have emerged as the markets where Indian leather items are in great demand.

Increase in Leather Product Demand
Some of the main reasons for the increase in the demand of leather made products are:

• Fashion consciousness towards products like handbags and footwear.
• Rise in sale through departmental stores.
• Increase in the number f women in the corporate world.
• Rise in demand for leather cases used for laptops, mobile phones and computers.
• Affordable prices.

The facts and figures clearly indicate the way leather products are gaining importance in our lives. And the trend is expected to keep on growing like this.