The Global Belts and Wallets Market is Predict to reach $32.7 Billion by 2028, at a CAGR of 7.8%

Published Date: 31-Mar-23

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Belts and Wallets Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Belts And Wallets Market size is expected to reach $32.7 billion by 2028, rising at a market growth of 7.8% CAGR during the forecast period.

The Non-Leather segment is showcasing a CAGR of 10.1% during (2022 - 2028). The increased consumer interest in environmentally friendly and animal-free products presents a huge opportunity for the segment to flourish. Recently, vegan leather, as well as accessories made without the use of animals, have increased in popularity, especially among millennials worldwide. The growing influence of animal welfare forums have also aided in creating demand for non-leather products.

The Men segment is leading the Global Belts And Wallets Market by End-user 2021 thereby, achieving a market value of $20.3 billion by 2028. The market is mainly influenced by men's prevalent use of belts & wallets in professional vocations and the significant trends in men's wallet and belt usage. The highest market share was also helped by the fact that numerous product styles and categories are available in the belts and wallets category.

The Online segment has shown the growth rate of 9.6% during (2022 - 2028). Since a sizeable portion of the market's revenue is produced through e-commerce retail channels, these channels play a vital role in selling belts and wallets. Online sales platforms have eliminated the need for consumers to physically visit stores to browse through a number of products. The millennial generation has been one of the major consumer segments driving the growth of internet retailers.

The Belts segment acquired maximum revenue share in the Global Belts And Wallets Market by Product 2021, thereby, achieving a market value of $19.1 billion by 2028. The primary element influencing the growth of the segment is the significant demand for belts among young people, women, and working professionals. Also, it is expected that during the projection period, women's growing demand for fancy, comfortable, and attractive belts will have a beneficial impact on the overall market.

The Asia Pacific market dominated the Global Belts And Wallets Market by Region 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $14.3 billion by 2028. The North America market is exhibiting a CAGR of 7.3% during (2022 - 2028). Additionally, The Europe market would showcase a CAGR of 7.1% during (2022 - 2028).

Full Report:

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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

Global Belts and Wallets Market Segmentation

By Material

  • Leather
  • Non-Leather

By End User

  • Men
  • Women

By Distribution Channel

  • Offline
  • Online

By Product

  • Belts
  • Wallets

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • 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)
  • Diesel Fashion India Reliance Pvt. Ltd.

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Related Reports:

North America Belts and Wallets Market Future Scope & Opportunities 2022-2028

Europe Belts and Wallets Market Size & Growth Forecast 2022-2028

Asia Pacific Belts and Wallets Market Size, Share & Industry Outlook to 2028

LAMEA Belts and Wallets Market Growth, Trends & Forecasts 2022-2028

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