According to a report by transparencymarketresearch.com, the global non-leather products market is anticipated to expand at a significant pace during the forecast period primarily due to the rise in demand for these products in the fashion industry in developing countries. The non-leather products market was valued at about US$ 240 Bn in 2017 and is expected to expand at a CAGR of 5.61% during the forecast period.
Economic growth and increase in disposable income in developing countries are boosting the demand for non-leather products. Demand for non-leather products is also increasing owing to the government support, as many organizations encourage animal welfare causes. Governments of various countries are banning animal slaughter for leather. They are taking steps to reduce carbon footprints, as the fashion industry is a prominent pollution causing industry. Artificial leather is being promoted, as it does not cause any harm to animals.
Key players operating in the global non-leather products market need to focus on promoting benefits of using non-leather products. Major players are engaged in establishing new facilities and enter into acquisitions and mergers to develop and launch new products. These strategies are likely to propel the non-leather products market during the forecast period.
Based on product, the non-leather products market has been divided into footwear, upholstery, luggage bags, handbags and wallets, belts, and others. Non-leather is primarily used for footwear. In terms of consumption, footwear accounts for approximately 50% share of non-leather. China, India, and Germany primarily focus on exports. Therefore, the usage of non-leather products is high in these countries.
North America and Asia Pacific are key regions of the global market. In terms of consumption, Asia Pacific holds major share of the global non-leather products market. The non-leather products market in India and China is anticipated to expand at a rapid pace during the forecast period, due to the rise in demand for synthetic leather in these countries. China is a major producer and consumer of non-leather products in Asia Pacific. Middle East & Africa and Latin America are emerging regions of the global non-leather products market.
Key players operating in the global non-leather products market include Pou Chen Corporation, Nike, Inc., PUMA SE, Adidas AG, ASICS Corporation, Samsonite International S.A., The LVMH Group, VF Corporation, VIP Industries Ltd., Gabriel A/S, Inditex Group, Dicitex Furnishing, Kvadrat A/S, MATT & NAT, Delsey SA, and Decathlon Group.