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LONDON--(BUSINESS WIRE)--The leather goods market research report examines the key questions around the implications of COVID-19 and provides a recovery analysis and outlook for the market in focus. Although the market has witnessed a negative impact due to the COVID-19 situation, the research analysts at Technavio expect the leather goods market to recover and grow by USD 55.31 billion during the forecast period, accelerating at a CAGR of over 4%. Leather Goods Market Segmentation Analysis by Product Vendors are focusing on customization and innovation in design and features in the footwear segment to capture market share. However, the leather goods market share growth by the footwear segment will be slower than the growth of the market by LBWP segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the leather goods market size. For the Complete Insights on COVID-19 Pandemic Crisis and Recovery Analysis of the Leather Goods Market. Download free report sample Leather Goods Market Regional analysis Register for a free trial today and gain instant access to 17,000+ market research reports Technavio's SUBSCRIPTION platform Leather Goods Market: Key Market Drivers Leather goods market is expected to be driven by the increasing spend on personal goods due to growing fashion-consciousness. Fashion-conscious consumers seek unique designs, styles, and colors that can provide an aesthetic and modern look to leather goods. In addition, the rise in customer spending power, evolving lifestyles, and rising penetration of smartphones are also contributing to the growth of the market. Increasing awareness through online channels is encouraging consumers to purchase the latest and unique designs of leather goods. Increase in Demand for Luxury Handbags Made of Eco-Friendly Materials will be a Key Market Trend Luxury handbags made of eco-friendly materials are gaining immense popularity worldwide, especially in countries such as China, the US, and Japan. Thus, companies are phasing out harmful PVC from their products and focusing on launching organic leather goods. One of the vendors, Kering SA, has already started using eco-friendly and organic leather for finished products. Thus, the increasing demand for eco-friendly products will drive the demand for leather goods, thereby driving market growth. Technavios sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report Leather Goods Market 2020-2024 : Key Highlights Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. View market snapshot before purchasing Executive Summary Market Landscape Market Sizing Five Forces Analysis Market Segmentation by Product Market Segmentation by Distribution channel Customer landscape Geographic Landscape Vendor Landscape Vendor Analysis Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Answer: Global Leather Goods Market Analysis with COVID-19 Recovery Plan and Strategies for the Consumer Discretionary Industry | Technavio