What Has Been The Historical And Current Growth Of The Skin And Hide Market?
The skin and hide market has seen considerable growth due to a variety of factors.
• The market size for skins and hides has seen a robust growth in recent years. The growth is anticipated to continue, rising from $138.39 billion in 2024, to $147.01 billion in 2025, recording a compound annual growth rate (CAGR) of 6.2%. The historic growth rate can be accredited to factors like the apparel and fashion industry, footwear production, car seat covers, furniture manufacturing, and customer preferences.
What are the Market Size and Expected Growth Rates for the Skin And Hide Market?
The Skin And Hide market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of skin and hide is predicted to experience significant expansion in the forthcoming years. Its value is projected to increase to $184.77 billion in 2029, with a compound annual growth rate (CAGR) of 5.9%.
The expansion during the forecasted period is likely due to factors such as sustainable fashion trends, high-end goods market, innovations in leather goods, compliance with regulations, and automotive interior designs. The forecast period will also witness trends such as advancements in tanning techniques, bespoke and personalized products, circular economy strategies, alternative leather options, and the implementation of digital technologies in promotional strategies.
Which Key Drivers Are Propelling The Skin And Hide Market's Growth?
The growth of the skin and hide market is anticipated to accelerate as the demand for leather rises. Leather, a product obtained from animal skin, is utilized in the construction of various items such as shoes, handbags, and furniture covers. The process of tanning involves chemically treating animal skins or hides to produce leather which is then preserved and used in the creation of items like footwear, apparel, and embellished furniture. This surge in demand for leather is likely to spur the skin and hide market. For instance, a report in August 2022 by World Footwear, a Portugal-based information, news, events, and statistics provider for the international footwear industry, stated that the sales of the Leather Products and Saddlery division of Hermès International, a French luxury goods company, saw a 16% growth in the first quarter of 2022 compared to the same timeframe in 2021. This surge was attributed to increased production capacity and steady demand. Consequently, the mounting demand for leather is fuelling the expansion of the skin and hide market.
What Are The Key Segments Within The Global Skin And Hide Market?
The skin and hide market covered in this report is segmented –
1) By Products: Cattle Hides, Buffalo Hides, Horse Hides
2) By Type: Natural, Artificial
3) By Application: Household, Commercial
Subsegments:
1) By Cattle Hides: Full Grain Leather, Top Grain Leather, Genuine Leather, Split Leather
2) By Buffalo Hides: Full Grain Buffalo Leather, Top Grain Buffalo Leather, Buffalo Split Leather
3) By Horse Hides: Horse Leather (Chrome-Tanned), Horse Leather (Vegetable-Tanned), Horse Hide Suede
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How Are New Trends Impacting The Size Of The Skin And Hide Market?
The major trend gathering momentum in the skin and hide market is technological innovation. Predominant companies in this market are resorting to the integration of emerging technologies to maintain their market stature. For example, Stella McCartney, a British fashion brand, in 2022, unveiled the first-ever luxury bag manufactured from Mylo - a certified vegan substitute for animal leather cultivated from mycelium, which are root-like entities of fungi. This leather is soft, long-lasting, and demands fewer environmental resources for its production, making it attractive to forward-thinking fashion brands on the hunt for more sustainable materials.
Who Are the Key Players In The Skin And Hide Market?
Major companies operating in the skin and hide market include:
• Norilia Nordic AS
• Sanimax Corporation
• Texpac Hide & Skin Ltd.
• AI Bravo Leather Industries
• J & E Sedgwick & Co. Ltd.
• OZ-YUKSEL Leather Company
• JBS Couros S.A.
• Koktaslar Leather
• Siddiq Leather Works Pvt. Ltd.
• Gruppo Mastrotto SpA
• Leather Working Group
• Horween Leather Co.
• Baker Commodities Inc.
• The Hide & Leather House Inc.
• Maverick Leather Company
• PrimeAsia Leather Corporation
• Scottish Leather Group Limited
• Couro Azul S.A.
• Couroart Indústria e Comércio de Couros Ltda.
• Dani Leather
• Eagle Ottawa LLC
• GST AutoLeather Inc.
• Elmo Leather AB
• Garrett Leather
• Shoe Repair And Leather Goods
• Nugget Co.
• Darling International Inc.
• Exeter Machine Co.
• Bandera USA
• Spinneybeck Enterprises Inc.
What Are The Regional Insights Into The Skin And Hide Market?
Asia-Pacific was the largest region in the skin and hide market in 2024. The regions covered in the skin and hide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
