Emerging Markets to Drive Growth in Leather Goods and Accessories Market, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global outlook on the Leather Goods and Accessories Industry. Fading impact of recession, increasing consumer disposable incomes, and product innovations are driving sales of leather goods and accessories, globally. Growing demand for leather goods from emerging nations is also a major contributor to the global market growth.

Leather Goods and Accessories: A Global Outlook

Follow us on LinkedIn – The recent global economic recession, which had a negative impact on most of the industry sectors during 2008 and 2009, not surprisingly left the global market for leather goods and accessories hurting. Following the decline in revenue growth during the period, the global leather goods and accessories industry staged a comeback in the year 2010, primarily driven by resurgence in growth fundamentals such as improvement in global economy, and subsequent improvement in consumer spending power. However, the recovery did not last very long, as the industry stumbled upon another obstacle as a result of the debt crisis in the Euro region. The Euro debt crisis induced an exacerbating impact on the value of many global currencies, thereby subjecting the global leather industry to certain external pressures such as fluctuations in exchange rates. The impact has been more adverse on small and weak exporters, as they do not possess the financial capability to hedge currency risks.

Developing nations are the prime producers of leather goods and accessories, while developed nations represent the leading consumers. The markets for leather goods and accessories are concentrated in the developed nations. The presence of high net worth individuals and high GDP in these countries are the prime factors that lead to the domination of these markets worldwide. The market structure is fragmented with several large global companies and several small local handicraft traders. Consumption trends tend towards globalization, and players with a global presence are less affected by the regional economic turbulences. Price range of leather goods is distinctively very large. Price positioning is based on brand relevance, and the factors determining brand relevance include innovation, quality, and design content.

Travel items represent the largest product segment in the global market for leather goods. However, recent trends suggest that long leather gloves are once again gaining tremendous popularity among consumers. Versatility and widespread appeal are considered the two main factors responsible for this trend. Leather is employed in varied applications due to its wind resistance and exceptional abrasion quality features. Of late, leather jackets have been gaining immense popularity, thanks to the high levels of innovation and product development, brought in by various designers and leather companies. Bomber jackets have also become popular among consumers, and serve as a stylish outfit by meeting the requirements of fashion buffs. Originally meant for defence personnel, leather bomber jackets are eventually being worn by both men and women, depending upon their design and style.

The research report titled “Leather Goods and Accessories: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers an aerial view of the global industry, identifies major short to medium term market challenges, and growth drivers. The report also recapitulates recent noteworthy mergers, acquisitions, and other strategic developments. Regional markets briefly abstracted include the United States, Canada, France, Germany, UK, China and India among others. Market discussions in the report are punctuated with fact-rich market data tables. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, please visit –
http://www.strategyr.com/Leather_Goods_and_Accessories_Industry_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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