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Middle East & Africa Leather Goods Market is segmented by Type (Footwear, Luggage and Accessories) and Distribution Channel (Offline Retail Stores and Online Retail Stores)
Middle East & Africa Leather Goods Market is forecasted to reach USD 21.23 billion by 2025 growing at a CAGR of 7.06% during the forecast period (2020 - 2025).
Middle East leather goods market has been segmented by type, distribution channel, and geography. By type, the market can be segmented into footwear, luggage, and accessories, and by distribution channel, the market can be segmented into offline and online retail stores.
|By Distribution Channel|
|Offline Retail Stores|
|Online Retail Stores|
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Global leather manufacturers and brands can evaluate potential acquisitions at the Middle East and identify key business opportunities to control supply, costs, and quality of raw leather products and supplies, as the Middle East is expected to become the hub for leather manufacturing in the future, thus, aiding in the increased production of quality leather goods. Manufacturers are also looking to outsource the production of value-added processed goods and labor-intensive production to improve price competitiveness. For instance, In one of the UAE companies, such as Al Khaznah Tannery, production is about two thousand pieces, and the annual production is one and a half million feet. Moreover, its exports are increasing in India, East Asia, China, and Europe. The source of the graph provided is from General Authority for Statistics (Saudi Arabia) showing the operating revenue from leather and related products manufacturing.
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In Saudi Arabia, companies, such as Saudi Leather Industries Company, a specialized company in all leather product categories, offering a wide range of leather footwear and other safety shoes use vamp leather to ensure protection. Consumers in the region prefer luxury goods over conventional ones, owing to their high purchasing power and sustainable demand for these products that reflect their social status. Such factors have led companies, such as MCM (Mode Creation Munich), to open their first boutique in Saudi Arabia to tap the market potential. The boutique offers a wide range of luxury leather goods and accessories, such as bags, purses, and wallets. The country also exports many leather products globally, due to the presence of large number of tanneries, such as Al-Ahli Leather Factory Company Ltd., that use high-end technology from European companies that are renowned for their leather processing industry.
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Middle East leather goods market is hugely influenced by expansion of international players in the region. The companies, like Kering SA, LVMH , Chanel SA, and Hermès International SA are the most active among all the key players in the market and the key players with better net sales performance and expansion investment plans are gaining more market share in this region. The key leather goods players are embarking on mergers and acquisitions, and entering into partnerships /agreements as one of their key strategies to achieve consolidation and optimize their offerings. Moreover, these players merge or acquire the leather tanneries to inflate the production procedures and achieve dominance in the leather goods market.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
3.1 Market Overview
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters 5 Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.2 By Distribution Channel
5.2.1 Offline Retail Stores
5.2.2 Online Retail Stores
5.3.1 Middle East & Africa
18.104.22.168 United Arab Emirates
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Company Profiles
6.3.1 Adidas AG
6.3.3 Ralph Lauren Corporation
6.3.4 Michael Kors Holdings Ltd.
6.3.5 Hermes International S.A.
6.3.6 Prada S.p.A.
6.3.7 Capri Holdings Ltd
6.3.8 Louis Vuitton
6.3.9 Kering S.A.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability