The Leather Good and Luggage Manufacturing industry has struggled over the past five years due to low consumer confidence and mounting pressure from low-cost imports. Offshoring of production became common among large industry manufacturers, as they sought to maintain profitability in an increasingly competitive environment. However, more manufacturers are expected to reshore production in the next five years as rising costs in markets such as China blunt the competitive edge attained from overseas operations. Companies that continue operating domestically will likely focus on high-end goods to appeal to consumers with rising disposable incomes, though competition from imports, including luxury European brands, will continue to pose an existential threat to the industry.
Operators in this industry primarily manufacture clothing accessories, including belts, hats, luggage, handbags, wallets and various other leather goods.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.