The North America Belts and Wallets Market would witness market growth of 7.3% CAGR during the forecast period (2022-2028).
The smart-connected wallets category will significantly increase its demand during the anticipated period. A smart-connected wallet is a sort of accessory used to carry personal stuff like cash, transactional cards, and other things, just like a traditional wallet. Smart-connected wallets may be tracked down by users via Bluetooth or Wi-Fi in the event that they are lost, unlike conventional wallets. They work with mobile devices like smartphones, tablets, and computers supporting wireless technologies. Furthermore, the inclusion of intelligent features like biometric identification and wallet tracking in smart-connected wallets aids in tracking these wallets in the event of loss or theft.
The belts and wallets market will be driven by this use of smart-connected wallets throughout the forecasted period. Over the past ten years, men's leather wallets have become increasingly common. This results from the several advantages they provide that other wallet kinds do not. Since it is durable and beautiful, leather has been a staple for many years and is becoming more popular in modern society. As a result, it becomes necessary to produce leather items, including purses, shoes, and jackets.
Since North America is one of the world's major markets for clothing, shoes, and other products with significant growth potential, belts and wallets are a popular trend. In addition, as locals become more aware of fashion trends, there has been an increase in demand for both men's and women's belts. The expansion of fashion trends' influence is responsible for market growth. In addition, consumers can obtain a variety of trendy, contemporary, and attractive personal accessories via multimedia as well as online social networks. All these elements promote the growth of the regional belts and wallets market.
The US market dominated the North America Belts and Wallets Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,660.1 Million by 2028. The Canada market is poised to grow at a CAGR of 9.7% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 8.8% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Belts and Wallets Market is Predict to reach $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.
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