Historically, the global leather and allied products market, one of the segments of the apparel and leather products industry, grew at a compound annual growth rate (CAGR) of around 5%.
The global leather and allied products market size is expected to reach above $670 billion in 2021, growing at a CAGR of above 6%. The growth in the market can be attributed to the increasing demand from apparel manufacturing industry, rising disposable income and rapid globalization.
However, the growth in the leather and allied products can be restricted due to stringent government regulations and rising cost of raw materials.
Find TBRC’s report on the leather and allied products market: https://www.thebusinessresearchcompany.com/report/leather-and-allied-products-global-market-report-2018
Companies manufacturing leather and allied products are using big data to keep a track of internal and external costs, efficiencies of resources and to monitor carbon emissions and waste discharge. They are keeping track of these parameters to avoid long term negative impact of manufacturing on the environment. For example, PrimeAsia, a leather manufacturer, gives its leather an environmental footprint number which is a formula calculating the energy, water, chemical usage and resource hours it takes to manufacture the leather.
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