Non-leather Products Market
Non-leather Products Market (Product - Footwear (Sports Shoes, Canvas Footwear, PVC Footwear, EVA Sandals), Upholstery, Luggage Bags, Handbags and Wallets, Belts, Others (including Jackets and Gloves)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
Press Release :
With rising awareness about animal cruelty and strict regulatory policies issued by the governmental and regulatory authorities, the non-leather products market is expected to witness a highly promising growth. There are several other materials that are used in place of non-leather products such as artificial leather (also called as synthetic or vegan leather) along with other materials. These non-leather materials are mainly promoted to promote animal safety and eliminating animal cruelty.
Non-leather materials are typically used across several application industries such as upholstery, footwear, clothing, and fabric among others. These materials provide leather like finish and higher sustainability. It is cost efficient that the actual leather product and also suitable for other related tasks. In recent years, the production process has evolved for shell coating to be on the top of the list of the manufacturers.
In recent years, the global demand has witness a paradigm shift because of the growing applications across different end user application industries such as clothing, bags, automotive, and furnishing among others. Manufacturers have been promoting their sources, shifting particularly to the suppliers in the Asia Pacific region. Countries such as Vietnam and China have been the chief area of attraction because of the availability of large amounts of raw materials and cheaper freight and labor expenses.
However, in the past few months, the outbreak of the COVID-19 pandemic across the world has considerably impacted the overall market demand for non-leather products. This is mainly because of the preventive and safeguarding measures implemented by different governments in order to stem the spread of the virus. This has thus led to a drop in demand as well as trade of non-leather products across the world and is expected to have an inhibiting impact on market’s overall development in the coming years of the forecast period ranging from 2018 to 2026
Non-leather Products Market – Snapshot
Non-leather products are products that are not made up of animal leather. Non-leather materials are artificial leather, leatherette, vegan leather, PU leather, and pleather. Non-leather products are cruelty-free products. They are cheaper than the original leather products. They are processed with different chemicals using various industrial processes. Non-leather materials include synthetic leather and vegan leather, which is made up of backcloth, cork, recycled ultra-suede, glazed cotton, paper, PET, and polyurethane.
The global non-leather products market is anticipated to expand at a significant pace during the forecast period primarily due to the rise in demand for these products in the fashion industry in developing countries. The non-leather products market was valued at about US$ 240 Bn in 2017 and is expected to expand at a CAGR of 5.61% during the forecast period. Economic growth and increase in disposable income in developing countries are boosting the demand for non-leather products. Demand for non-leather products is also increasing owing to the government support, as many organizations encourage animal welfare causes. Governments of various countries are banning animal slaughter for leather. They are taking steps to reduce carbon footprints, as the fashion industry is a prominent pollution causing industry. Artificial leather is being promoted, as it does not cause any harm to animals.
Key players operating in the global non-leather products market need to focus on promoting benefits of using non-leather products. Major players are engaged in establishing new facilities and enter into acquisitions and mergers to develop and launch new products. These strategies are likely to propel the non-leather products market during the forecast period. On January 23, 2018, Pou Chen Corporation announced a proposal to privatize Pou Sheng International Ltd, its Hong Kong-based subsidiary responsible for sportswear retailing in China. The Board of Directors of Pou Chen Corporation approved the plan to spend US$ 1.39 Bn to completely acquire Pou Sheng International Ltd. On March 22, 2018, NIKE, Inc. announced plans to acquire Zodiac Inc., a leading customer data analytics company based in New York City and Philadelphia (the U.S.), in order to strengthen its digital capabilities and accelerate its consumer direct offense strategy.
Based on product, the non-leather products market has been divided into footwear, upholstery, luggage bags, handbags and wallets, belts, and others. Non-leather is primarily used for footwear. Non-leather is also employed in luggage bags, handbags & wallets, belts, etc. Non-leather is preferred as it is cheaper than genuine leather. It is also more stylish than genuine leather. In terms of consumption, footwear accounts for approximately 50% share of non-leather. Thus, handbags and wallets is also a prominent segment of the non-leather products market. China, India, and Germany primarily focus on exports. Therefore, the usage of non-leather products is high in these countries.
Based on region, the global non-leather products market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America and Asia Pacific are key regions of the global market. In terms of consumption, Asia Pacific holds major share of the global non-leather products market. The non-leather products market in India and China is anticipated to expand at a rapid pace during the forecast period, due to the rise in demand for synthetic leather in these countries. China is a major producer and consumer of non-leather products in Asia Pacific. Middle East & Africa and Latin America are emerging regions of the global non-leather products market.
Key players operating in the global non-leather products market include Pou Chen Corporation, Nike, Inc., PUMA SE, Adidas AG, ASICS Corporation, Samsonite International S.A., The LVMH Group, VF Corporation, VIP Industries Ltd., Gabriel A/S, Inditex Group, Dicitex Furnishing, Kvadrat A/S, MATT & NAT, Delsey SA, and Decathlon Group.
This report analyzes and forecasts the non-leather products market at the global and regional levels. The market has been forecast based on value (US$ Bn) and volume. Volume differs according to products. Volume for footwear is given in billion pairs, while it is in million square meters for upholstery. Volume for luggage bags; handbags and wallets; belts; and others is provided in million units. The study includes drivers and restraints of the global non-leather products market. It also covers the anticipated impact of these drivers and restraints on the demand for non-leather products during the forecast period. The report also highlights opportunities in the non-leather products market at the global level.
The report comprises detailed value chain analysis, which provides a comprehensive view of the global non-leather products market. The Porter’s Five Forces model for the non-leather products market has also been included to help understand the competition landscape of the market. The study encompasses market attractiveness analysis, wherein product segment have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global non-leather products market by segmenting it in terms of product. Segment has been analyzed based on present and future trends. Regional segmentation includes the current and projected demand for non-leather products in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers the demand for non-leather products in individual product segments across all regions.
Key players operating in the global non-leather products market are Pou Chen Corporation, Nike, Inc., PUMA SE, Adidas AG, ASICS Corporation, Samsonite International S.A., The LVMH Group, VF Corporation, VIP Industries Ltd., Gabriel A/S, Inditex Group, Dicitex Furnishing, Kvadrat A/S, MATT & NAT, Delsey SA, and Decathlon Group. Market players have been profiled in terms of company overview, financial overview, business strategies, and recent developments.
The report provides size (in terms of volume and value) of the non-leather products market for the base year 2017 and the forecast for the period between 2018 and 2026. Market numbers have been estimated based on product segments. Size and forecast of each major product segment have been provided in terms of the global and regional markets.
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile this research report. Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key market players were reviewed for competition analysis and market understanding. Secondary research also includes search of recent growth trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
- Extensive analysis of the non-leather products market trends and shares from 2017 to 2026 to identify growth opportunities and analyze market developments
- List of key developments made by prominent players operating in the non-leather products market
- List of key factors useful for building a roadmap of upcoming opportunities in the non-leather products market at the global, regional, and country levels
- Comprehensive analysis with respect to investments and price trends that impact the outlook of the global non-leather products market between 2018 and 2026
- Insights into growth opportunities for various stakeholders in the market value chain and detailed competition landscape of key players operating in the market to help understand the competition level
- Porters’ Five Forces analysis that highlights the potency of buyers and suppliers, and enables stakeholders to make profit-oriented business decisions