Saudi Arabia Leather Goods Market research report, 2028

The Leather Goods market of Saudi Arabia is a thriving industry and growing significantly as well. Innovation in design and the use of exotic leather to manufacture products have enabled manufacturers to cater to the demand for high-end and premium customers. Also, key market players are focused on designing personalized and customized leather goods for attracting consumers to spend more on exclusive products. Consumers in the country 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. Saudi Arabian consumers are becoming more aware of environmental issues and are demanding products that are made from sustainable materials. This has led to an increase in the production of eco-friendly leather products in the country. As Colombia's economy continues to grow, there is a growing demand for luxury leather goods, including handbags, shoes, and accessories. Saudi Arabian leather goods manufacturers are tapping into this trend by producing high-end products with unique designs. According to the research report "Saudi Arabia Leather Goods Market research report, 2028," published by Actual Market Research, the Saudi Arabia Leather Goods Market was valued more than USD 2.1 billion in 2022. Based on type the market is segmented into genuine leather and synthetic leather. The genuine leather holds the highest market share of the market and is dominating the market as well. The synthetic leather is expected to grow with highest CAGR. Compared to conventional leather, synthetic leather is typically more durable and resistant to wear and tear. It is a preferred material for items like purses, shoes, and coats since it is easier to maintain and clean. Furthermore, there is a rising demand for eco-friendly products as consumers become more conscious of the effects of their purchasing decisions on the environment. Synthetic leather is frequently regarded as being more environmentally friendly than real leather because it is made without the use of animal hides. For customers looking for the appearance and feel of leather at a lower price range, synthetic leather is frequently less expensive than real leather. Based on product, the market is divided into footwear, handbags, Small Leather Goods/ Accessories Apparel, Home Décor and Furnishing Pet Accessories, Automotive Accessories, luggage & bags. Among them the handbags is expected to grow with highest period during the anticipated period. High-end leather handbags are renowned for their enduring usefulness and toughness. Consumers in Saudi Arabia are prepared to spend money on premium handbags made of durable materials and designed to last for many years. Handbags are adaptable accessories that can be worn for a variety of purposes, from accessorising formal outfits to carrying daily necessities. This adaptability has helped handbags maintain their popularity among consumers, leading to a broad variety of purse styles and sizes on the market. With numerous compartments and pockets for storing and organising personal items, handbags are designed to be functional. Based on the research, the market is divided into speciality stores, supermarkets and hypermarkets, brand outlets, and online stores, depending on the distribution channel. The market is dominated by specialty stores, which have the largest market share. Specialty stores often specialise in one or two types of leather items, such as footwear, handbags, or jackets. This concentration enables them to establish a high level of product understanding, allowing them to provide professional advice and help to customers when making a purchase. Furthermore, compared to general retailers, specialty stores frequently offer a broader range of products within their category. Customers can then find exactly what they're seeking and explore new product possibilities within their sector of interest. Considered in this report • Geography: Saudi Arabia • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Saudi Arabia Leather Goods market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type • Genuine Leather • Synthetic Leather By Product • Footwear • Handbags • Small Leather Goods/ Accessories • Apparel • Home Décor and Furnishing • Pet Accessories • Automotive Accessories • Luggage & bags By Distribution Channel • Speciality Store • Supermarkets and Hypermarkets • Brand Outlets • Online Stores • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Leather Goods industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.