Bovine Leather Goods Market

Bovine Leather Goods Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Bovine Leather Goods Market: Introduction

Bovine leather is a highly common type of leather. It is a widely manufactured leather that is obtained from buffalo, cow, and calf-skin. Bovine leather is well-known for its texture, appearance, comfort, and durability.
Around 95% of all type of leather goods sold in the U.S. are made of bovine leather, because cattle is extensively bred and is ease to acquire
Moreover, leather produced from cowhide offers good resistance against water and dirt, is easy to maintain, and relatively inexpensive, owing to easy availability. Furthermore, this type of leather is used in almost every leather product including handbags, footwear, shoulder bags, upholstery, note case, saddlery, purse, holster, wallet, jackets, belt, gloves, automotive industry, and car seat covers.

Key Drivers of the Global Bovine Leather Goods Market

Rise in disposable income over the long term is anticipated to boost the demand for discretionary spend goods, which includes high-end handbags, wallets, and shoes. Increase in fashion awareness among the youth in emerging economies is projected to propel the demand for bovine leather goods in tier-II and tier-III metropolises.
Moreover, the working female population has increased at a prominent rate across the globe. Self-determined working women, globally, usually prefer high quality leather wallets, handbags, and footwear, due to their enhanced spending capacity, thereby contributing significantly to the expansion of the market. Employed women are also a key market segment for major players offering bovine leather products.

Counterfeit Options to Hamper the Market

Rise in counterfeit products, increase in concerns about animal brutality, and harmful environmental effects of leather processing are projected to hinder the bovine leather goods market across the globe during the forecast period.

Market in Asia Pacific to Expand Rapidly

In terms of geography, the global bovine leather goods market can be divided into five regions North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the bovine leather goods market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the bovine leather goods market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America anti-acne cosmetics market is segmented into Brazil, and Rest of South America.
The market in Asia Pacific is projected to expand at a significant growth rate during the forecast period, as the region is home to a large youth population especially in India and China. Moreover, the leather industry contributes significantly to the economy of India. Bovine leather goods are known to consistently generate significant revenue from exports, and the industry is among the top 10 foreign exchange earners for the country.

Key Players Operating in the Global Market

Key players operating in the bovine leather goods market are estimated to witness rising demand for bovine leather goods during the forecast period, owing to the launch of latest bovine leather goods that are expected to prompt customers to spend more. Manufacturers are focused on their main strategy of acquisitions, expansions, and collaborations with startup companies to gain significant share of the market. Additionally, manufacturers emphasize on driving consumer engagement by investing in product, marketing, and in-store and online experience. Additionally, key players are focused on the development and retention of talent through career development opportunities by providing a workplace for learning and development. A few of the key players operating in the global bovine leather goods market are: