Import competition has been a major factor in the declining performance of this industry, with many local companies shifting from manufacturing leather accessories and luggage to sourcing them from low-cost Asian countries or third-party contractors. The Leather Good and Luggage Manufacturing industry is expected to continue on its downward trajectory in the five years to 2019. Increased imports and offshoring production means the domestic industry will be an inhospitable environment for aspiring new entrants. The operators that remain profitable in the next five years will focus on niche markets, developing high-quality and high-priced products.
Operators in this industry primarily manufacture clothing accessories, including belts, hats, luggage, handbags, wallets and various other leather goods.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.