Leather luggage and goods are also being propelled by a compound annual growth rate (CAGR) of 5 percent during the five-year period between 2015 and 2020. The “World Leather Luggage and Goods Market Opportunities and Forecasts 2014-2020” report attributes this growth to factors such as an increase of per capita income, a higher tourism rate and evolving fashion trends.
Allied Market Research’s report examines the leather luggage and goods market in regions such as North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). Key brands analyzed in the report include Coach, Prada, Samsonite, Louis Vuitton, Hermès, Kering, Delsey, Christian Dior, Tumi and VIP Industries.
Gotta hand[bag] it to you
In 2014, the leather luggage and goods category saw the most growth in the Asia Pacific region followed by Europe and North America. Category interest, especially for new and trendy designs, in Asia Pacific is marked by a rising middle-class demographic alongside an increase in disposable income in nations such as India and China.
With a higher amount of disposable income, consumers are also more likely to have the means to travel more frequently and to attractive destinations. This has caused the travel bag to become the fastest growing segment within the leather luggage category, with a CAGR of 6.9 percent in the forecast period of 2015-2020.
The handbag segment of the leather goods market owes its growth to the increasing number of women in the workforce. This growth is also connected to the economic independence of these women, which has led to purchasing high-end branded leather handbags.
Read More@ https://www.luxurydaily.com/asia-pacific-drives-leather-goods-market-due-to-increases-per-capita-female-employment-report/
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