The global leather goods market was valued at US$ 220.71 billion in 2016 and is expected to reach US$ 336.71 billion by 2025, witnessing a CAGR of 5.02% over the forecast period (2017 - 2025), according to Leather Goods Market Report, by Product Type (Footwear, Luggage, Wallets & Purses, Apparel and Others), by Distribution Channel (Hypermarkets, Supermarkets, Convenience Stores, Online Stores, and Others), published by Coherent Market Insights. The advantageous properties of leather such as high tensile strength, permeability to water vapor, resistance to tear, and others makes leather unique and a valuable material for upholstery purposes, results in increasing demand for leather goods, which in turn is fueling market growth. Increasing inclination of consumers towards aesthetic appeal coupled with increasing per capita expenditure are driving growth of the leather goods market. According to United States Department Labor, Bureau of Labor Statistics, in U.S., the average per capita expenditure was US$ 57,311 in 2016, with a 2.4% increase from 2015.
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