The Europe Belts And Wallets Market would witness market growth of 7.1% CAGR during the forecast period (2022-2028).
Businesses are utilizing many leather substitutes, such as leather-like products made from paper, cork, waxed cotton, tree bark, recycled rubber, apple waste, pineapple waste, and mushrooms. Population growth and an increase in the amount of disposable cash available to people are two variables that are boosting demand for belts and wallets. These items' sales are also increasing globally because they are regarded as affordable, comfy, and useful.
As a result of the increased demand from wealthy consumers, major market participants are also offering cutting-edge and fashionable products. In order to provide possibilities for personalization and variety, manufacturers are integrating cutting-edge technology like automated cutting in their production processes. Nonetheless, the use of leather goods across the fashion industry is significantly influenced by the burgeoning ethical and sustainable fashion trends. Introducing bio-based leather, eventually replacing traditional leather items, is another trend-encouraging development.
Europe is a significant market for belts and wallets. Belts are the second most popular product category, behind carrying products. However, wallets are among the largest categories in the carrying products section. Additionally, in this region, the most specialized import markets and the most expensive per unit are in France and Italy. Germany, the United Kingdom, the Netherlands, and Spain are other major European markets for accessories like belts and wallets. Moreover, in the worldwide leather industry, the EU tanning sector is one of the biggest suppliers in the world. The EU supplies some of the most expensive calfskins regarding raw materials and leather. Most tanneries in the region are small to medium-sized businesses with a high regional concentration.
The Germany market dominated the Europe Belts And Wallets Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,921.3 Million by 2028. The UK market is anticipated to grow at a CAGR of 6.2% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 7.9% during (2022 - 2028).
Based on Material, the market is segmented into Leather and Non-Leather. Based on End User, the market is segmented into Men and Women. Based on Distribution Channel, the market is segmented into Offline and Online. Based on Product, the market is segmented into Belts and Wallets. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Belts and Wallets Market will Hit $32.7 Billion by 2028, at a CAGR of 7.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include PUMA SE (Groupe Artémis S.A.), Levi Strauss and Co., Guccio Gucci S.p.A. (Kering group), Burberry Group PLC, Ralph Lauren Corporation, Tommy Hilfiger Licensing, LLC (PVH Corp.), Aditya Birla Fashion and Retail Limited (Aditya Birla Group), Titan Company (Tata Group), Marshal Wallet (ABC International) and Diesel Fashion India Reliance Pvt. Ltd.
By Material
By End User
By Distribution Channel
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