Irving, Texas (PRWEB) March 20, 2013
The global leather goods industry comprises establishments that are primarily engaged in manufacturing leather accessories such as handbags and other small leather goods including men’s wallets, purses, belts, and other small accessories. The leather goods industry is fragmented with the top 10 players accounting for one-third of market share in 2012. Competitive rivalry is high due to the large number of players. Industry revenue is forecast to reach an estimated $62.4 billion by 2018 with good growth over the next five years (2013-2018).
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis of the industry and presents its findings in “Global Leather Goods Industry 2013-2018: Trend, Profit, and Forecast Analysis.” A combination of factors such as rising income, consumer confidence, and consumer spending power helps shape market dynamics. The Asia Pacific (APAC) region dominates this industry.
Lucintel's report gives a brief overview of the industry challenges. The global leather goods industry has a high degree of price competition among the players in the market. People have become more conscious of their image and therefore, new, trendy designs and attractive colors are finding favor with the customers. This is challenging to the manufacturers, as they need to maintain price and quality. Retaining customers through discounts and innovative products also challenges the industry.
The study also highlights the industry’s growth drivers. Consumers are becoming more affluent with the passage of time, and per capita income is increasing. These factors are major drivers of global leather goods industry. Consumers are demanding more fashionable and new products. The industry is marketing its products innovatively with effective marketing strategies and eye-catching advertisements.
This Lucintel industry research report is an indispensable reference guide for leather goods manufacturing companies, personnel working in this industry, investors investing in this industry, and many more who operate in this industry. To make business, investment, and strategic decisions, timely, useful information is needed, which is fulfilled by this market report.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel’s Opportunity Screening and Business Strategy Consulting services Growth challenges have supported decision makers in achieving their growth objectives.