The U.S. leather and fur products market was valued at USD 40.7 billion in 2020 and is expected to expand at a CAGR of 4.2% from 2021 to 2028. Leather and fur products are gaining traction in the U.S. owing to the rising demand for fashionable, stylish, and comfortable clothing. Furthermore, the growing trend of athleisure and the increasing use of leather and fur products in fashion apparel and accessories are fueling the market growth.

Moreover, the growing demand for sustainable and eco-friendly products is expected to drive the market growth. The rising awareness regarding the environmental and social impacts of the fashion industry has led to the adoption of sustainable materials, such as faux leather and faux fur, in the apparel industry. Furthermore, the increasing demand for vegan leather is propelling the market growth. For instance, in April 2021, the American fashion brand, Goodfight, launched a collection of vegan leather jackets made from pineapple leaves, which are fully compostable and biodegradable.

Furthermore, the growing influence of influencers and celebrities is driving the market growth. Influencers and celebrities are actively promoting leather and fur products, which is increasing their popularity among consumers. Companies are also launching new fur and leather products to meet the growing demand. For instance, in March 2021, the American fur brand, Yves Salomon, launched a new line of fur and leather accessories, including bags and hats.

Furthermore, companies are investing in technological advancements to produce high-quality leather products. For instance, in April 2021, the American company, Chromexcel, patented a new leather-making process that utilizes the latest technology to produce leather with a consistent grain pattern and color. Moreover, the rising disposable incomes and changing lifestyle are driving the demand for leather and fur products in the U.S.

Major players in the market are developing strategies such as collaborations, partnerships, and product launches to gain a competitive edge. For instance, in December 2021, the Italian luxury brand, Prada, launched a new line of leather apparel and accessories, which includes bags, shoes, and jackets. Furthermore, the rising demand for sustainable fashion is expected to create new opportunities in the market.

The fur and leather segment accounted for the largest share of the U.S. leather and fur products market in 2020. Leather and fur products are extensively used in the manufacture of clothing and accessories. According to an article published by the American Fur Industry, in 2020 the fur fashion industry in the U.S. was a USD 4 billion business. The popularity of fur garments and accessories such as fur-trimmed jackets, fur vests, and fur-trimmed boots is driving the market growth. Furthermore, increasing demand for luxury leather products, such as bags, shoes, and wallets, is also augmenting the market growth.

The leather segment is anticipated to expand at the fastest CAGR of 4.5% over the forecast period. High-end leather products are in high demand in the U.S. as consumers are becoming more aware of their fashion choices. According to a survey conducted by the National Retail Federation, in 2020, 58% of consumers in the U.S. purchased leather items. Furthermore, increasing disposable income coupled with the rising trend of buying luxury items is driving the market growth.

The department stores segment is expected to account for the largest market share in the U.S. leather and fur products market in 2022. Department stores offer a wide range of leather and fur products such as clothing, accessories, and home furnishings. These stores also provide customers with the convenience of product comparison and price comparison, which is expected to bolster the growth of the segment. Furthermore, the rising demand for fashion leather and fur products has driven department stores to expand their product range, which is likely to propel the growth of the segment over the forecast period.

The online segment is anticipated to expand at the highest CAGR of 10.4% over the forecast period. The rise in internet penetration and the increasing number of online shoppers are expected to drive the demand for leather and fur products through e-commerce websites. Furthermore, the rising popularity of social media platforms such as Instagram, Facebook, and Twitter has enabled companies to advertise their products and increase their customer base. Moreover, e-commerce websites offer a wide range of leather and fur products, which is expected to contribute to the growth of the segment over the forecast period.

The leather segment accounted for the largest revenue share of 73.3% in the year 2022. The leather and fur products industry benefits from the increasing demand for luxury leather goods. The leather goods industry is driven by the rising disposable incomes of people in the U.S. and the growing trend of fashion and personalization of leather goods. Furthermore, the increasing use of leather in the production of footwear, apparel, and accessories is propelling the market.

The fur segment is anticipated to expand at the highest CAGR of 8.2% over the forecast period. The growing demand for fur products in the luxury segment is driving the market. Fur garments are becoming increasingly popular among the affluent population of the U.S. and Europe, thereby driving the demand for fur products. Furthermore, the increasing demand for fur products from the global fashion industry is also driving the market.

North America was the leading regional market in 2022, with the U.S. accounting for the largest market share. This can be attributed to the presence of a large number of leather and fur product manufacturers in the U.S., along with the rising demand for high-quality leather and fur products. Moreover, the increasing number of online stores selling leather and fur products is further supporting the growth of the market in this region. For instance, in April 2022, Revtown launched its online store to sell leather jeans and other leather apparel.

Europe is expected to witness the second-fastest growth in the coming years. Increasing demand for leather and fur products in countries such as Italy, France, Germany, and the U.K. is driving the growth of the market in the region. Moreover, the rising disposable income and awareness regarding leather and fur products are further expected to propel the growth of the market in this region. For instance, in October 2021, Italian fashion label Gucci launched a line of fur and leather products.

In this part of the leather and fur products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your leather and fur products venture. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main sources of revenues for a leather and fur products business come from the sale of finished products, wholesale, and retail. Here you will find a list with a description of each of them and other possible sources of profit such as craft shows, custom orders, and online sales.

Projecting Expenses
In this section, all the regular expenses related to keeping the leather and fur products business running will be described. The list of operating expenses includes raw materials, labour costs, overhead, shipping, advertising, and others.

Some of the key companies operating in the U.S. leather and fur products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Coach Inc. launched a new collection of leather bags for men and women.

– In August 2022, Furla launched an exclusive collection of leather bags in collaboration with renowned fashion designer, Carolina Herrera.

– In October 2022, Hugo Boss AG launched a line of luxury leather jackets.

Some of the prominent players in the U.S. leather and fur products market include:

– Coach Inc.
– Furla
– Hugo Boss AG
– Michael Kors Holdings Limited
– Ralph Lauren Corporation
– LVMH Moët Hennessy Louis Vuitton SE
– Prada S.p.A.
– Kering SA
– Hermès International SCA
– Salvatore Ferragamo S.p.A.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global U.S. leather and fur products market based on product, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Leather Goods
– Apparel
– Footwear
– Accessories
– Others

2. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Genuine Leather
– Synthetic Leather
– Fur

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– U.S.
– Canada
– Mexico
– Rest of North America

[Q]: What Factors are Driving the Leather and Fur Products Market?
[A]: Factors driving the leather and fur products market include the rising demand for luxury and premium products, increasing disposable income in developed countries, and growing fashion consciousness among consumers. The increasing focus on sustainability and eco-friendly products is also driving the market growth. The trend of fashion-consciousness and the demand for animal-friendly and sustainable products are expected to provide a strong impetus to the market.

[Q]: Who are the Key Players in the Leather and Fur Products Market?
[A]: Key players in the leather and fur products market include Coach, Inc., Kering S.A., LVMH Moët Hennessy Louis Vuitton, Burberry Group plc, Prada S.p.A, Tapestry, Inc., Hermès International S.A., Furla S.p.A., Michael Kors, and Ralph Lauren Corporation.

[Q]: What are the Key Product Segments in the Leather and Fur Products Market?
[A]: The leather and fur products market is segmented by product type into leather, fur, and synthetic leather. Leather is the most widely used material in the leather and fur products market. Leather is used to make a variety of products such as clothing, accessories, footwear, and furniture. Fur is also used to make a variety of products such as clothing, accessories, and footwear.

[Q]: What are the Major Regions Covered in the Leather and Fur Products Market?
[A]: Major regions covered in the leather and fur products market are North America, Europe, Asia Pacific, and Rest of the World. North America is expected to be the leading region in the global leather and fur products market. The increasing demand for luxury and premium products in the U.S. is driving the growth of the market in the region.

[Q]: What are the Major Distribution Channels for Leather and Fur Products?
[A]: Major distribution channels for leather and fur products include online stores, specialty stores, department stores, and others. The online store segment is expected to witness a significant growth rate over the forecast period, owing to the increasing preference for shopping online among customers.