Traditional Leather Market: Key Highlights

• The global traditional leather marketwas valued at ~US$ 66.8 Bn in 2018 and is anticipated to expand at a CAGR of ~3% during the forecast period
• Based on raw material, the bovine leather segment held a dominant share of the global traditional leather market in 2018, primarily due to high quality and low price. It witnesses high demand from footwear and automobile segments.
• In terms of end user, the footwear segment accounted for a major share of the global traditional leather market in2018. There is a high demand for traditional leather in footwear industries, due to its qualities such as durability, rich look, and unique appearance.
• Based on finishing type, the aniline segment constituted a significant share of the global traditional leather market in 2018, due to high demand for original looking leather from consumers
• The traditional leather market in Asia Pacific is likely to expand at a substantial pace during the forecast period, owing to rapid urbanization and industrialization in the region

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Traditional Leather Market: Competition Landscape

• The global traditional leather market is led by multinational players operating across the globe
• Prominent players operating in the global traditional leather market are Rahman Group, Superhouse Group, Pakkar, KG Leathers, OzyUksel Leather Company, Koktaslar Leather, and Gruppo Mastrotto spa

Key Drivers of Traditional Leather Market

• Increasing demand for traditional leather for its superior quality and appearance is boosting the demand for traditional leather across the globe. A key advantage of traditional leather is that it is unique, as no two hides are the same. For instance, cattle leather has unique marks, such as stretch marks, scars, and veins. Moreover, it has inconsistent pores, which give it a distinct look. However, synthetic leather is uniform and does not match with traditional leather.
• Traditional leather offers the advantage of durability. With proper care, traditional leather can last for years without being damaged. Traditional leather is known to sustain 25–30 years. However, life of synthetic leather is lower than that of traditional leather. Traditional leather offers a luxurious look and is soft, comfortable, and lighter than synthetic leather. Synthetic leather is not biodegradable, but traditional leather is biodegradable. This gives added advantage to traditional leather. Properties of traditional leather, such as luxurious feel, unique appearance, high durability, and biodegradability are expected to drive the traditional leather market during the forecast period.
• Rise in utilization of waste from meat industry is expected to drive the global traditional leather market. In the past few years, the meat industry has witnessed tremendous rise in meat consumption, due to more demand from consumers. This rise in demand for meat ultimately leads to higher production of wastes, including skins and hides. The traditional leather industry recycles skins and hides to produce leather. Thus, rising use of waste from the meat industry is estimated to drive the global traditional leather market during the forecast period.

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Asia Pacific to Lead Traditional Leather Market

• Asia Pacific led the global traditional leather market in 2018,due to rapid industrialization and presence of well-established manufacturing units of major automotive and footwear players in Asia Pacific. Consequently, the region is anticipated to witness high demand for traditional leather during the forecast period.
• Countries, such as China, India, Japan, and Indonesia, are expected to drive the traditional leather market in Asia Pacific, due to the presence of top global leather manufacturers. Moreover, in recent times, Asia Pacific witnessed increased per capita income and purchasing power in counties such as China and India, which has resulted in high demand for leather products.

Global Traditional Leather Market: Segmentation

Traditional Leather Market, by Raw Material

• Bovine
• Sheep
• Goat
• Pig
• Exotic Leather

Rise in Utilization of Waste from Meat Industry to Drive Traditional Leather Market

• Animal skins and hides are considered waste products in the meat industry. The traditional leather industry recycles the skins and hides to produce leather.
• According to the UN Food and Agriculture Organization (FAO), the meat produced in2018 was around 335 million In 2017, the meat production stood at around 330 million tons. This is an increase of 1.5%, which is the highest since 2014. Over the past few years, there has been a significant increase in meat consumption in China, the U.S., Japan, Mexico, and South Korea. For instance, every individual in the world currently consumes 43.7 kilograms of meat every year on an average, which was around 25 kilograms in 1965.

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• Rise in meat consumption ultimately leads to higher production of wastes, including skins and hides. These skins and hides are disposed of by dumping in landfills. This dumping in landfills is likely to be expensive in the near future, as governments are planning to increase the landfill tax. For instance, in the U.K., the standard rate of the material dumped was around GBP 95 per ton in 2018, which is expected to rise to GBP94.15 per ton by 2020. These stringent regulations are intended to promote the reuse of waste materials being dumped in landfills.

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