Leather and allied product manufacturing establishments are engaged in tanning or curing of hide into leather and using it in the manufacture of footwear, handbags, purse and other leather products. It also includes the manufacture of similar products with substitute materials such as plastics, rubber or textiles.
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The global leather and allied products market has been growing in the past years with a CAGR of almost 5%. The year 2017 recorded high growth in this market with a net market value almost 18% higher than that of 2013, as per TBRC’s in-house consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global leather and allied products market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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Technological advances in the field of wireless technologies has enabled leather product manufacturers to integrate wearable technology into their products. Leading fashion designers are partnering with technology firms to produce trendy wearables and luxury products as the market is adopting this concept broadly. For instance, Ralph Lauren introduced the ‘Ricky Smart Bag’ made from luxury leather that enables users to charge their phone by lifting one of the flaps that activates an internal light.
Companies included in the report are NIKE Inc., Gap Inc., Christian Dior SE, Adidas AG, and Kering SA.
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