Growing demand for luxury products such as luxury leather goods among consumers to showcase their status, growing purchasing power and disposable income of consumers, and rise in the number of brand obsessed people are expected to drive the market growth rate. The “footwear” is the highest growing type segment because leather shoes are more popular among both male and female for its status symbol and demand in formal outfit over the forecast period. The rising demand for attractive luxury leather goods as a symbol of status and the inclination of luxury consumers toward several international brands is increasing the demand for luxury leather goods in the market and expected to drive the market's growth rate.
Frequently Asked Questions
The market is segmented based on Segmentation, By Type (Footwear, Luggage, Accessories), Product (High-Grade, Low-Grade, Mid-Grade), Application (Men, Women), Distribution Channel (Offline Retail Stores, Online Retail Stores) – Industry Trends and Forecast to 2031.
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The Middle East Luxury Leather Goods Market size was valued at USD 18.49 USD Billion in 2023.
The Middle East Luxury Leather Goods Market is projected to grow at a CAGR of 7.11% during the forecast period of 2024 to 2031.
The major players operating in the market include - Burberry, COACH IP HOLDINGS LLC, DIOR, Goldlion, GIVENCHY, Guccio Gucci S.p.A, Kate Spade, Longchamp, Mulberry, Michael Kors, CAPRI HOLDINGS LIMITED, 31 Phillip Lim, Proenza Schouler, Bata Brand, Wolverine World Wide , Rahman Group, Dunlop Protective Footwear, VF Corporation, Uvex group, Hewat's Edinburgh, ELTEN GmbH, COFRA Holding, Rock Fall , Oftenrich Holdings Co. .
The market report covers data from the Saudi Arabia, UAE, Iran, Israel, Qatar, Rest of Middle East.
