Buffalo Virgin Leather Market Ongoing Trends, Recent Developments & Forecast
Posted by AayushFMR on April 5th, 2021
Virgin Leather: Market Overview and Dynamics
The Virgin leather market is estimated to prosper due to animal welfare and the environmental impacts of livestock. The leather production is driven by increasing awareness and demand for more sustainable leathers. Moreover, the growing interest in more sustainable leather is expected to further boost the demand for the virgin leather market.
Products that are called 'virgin leather' means that the animal from which the hide originates has not been slaughtered for the particular purpose of its leather hide. Virgin leather is most often dairy cattle that experience abrasions to the skin-scratches of barbed wire and other imperfections that would make it difficult for the hide to be labelled of higher quality. Despite virgin leather is most demanded in North America and East Asia, regional beliefs in potential markets such as India to act as a major barrier for the virgin leather market
Virgin leather is normally collected from animals that are kept in a more tightly regulated environment to avoid hides from being harmed by a label, barbed wire, or something else that may otherwise cause some substantial defect in the leather during tanning and processing. High-quality jackets, furniture grades and automotive leather are priced higher but they can be jacked up considerably. Virgin leather is often confused too many as 'cruelty-free' leather.
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Virgin leather is segmented based on type, end-use, and region. Based on type, the market is segmented into, buffalo, cow, lamb, and others. Popular commercial hides have cattle and another animal leather- like snakeskin, buckskin and alligator. All are used for shoes, clothes, leather bags, belts, etc. Global leather production is estimated to be more than seven million mt for which hides and skins of around one billion animals are used for leather production every year. The exporter of the hide is Australia which exports the majority of sheepskin to Middle East countries. Where it gets converted into various products as per the demands.
Virgin leather is used in the manufacturing of footwear, automobile seats, book bindings, fashion accessories, clothing and furniture. Virgin leather products are produced in a wide variety of styles and type with different techniques involved. With the increasing awareness among the people, the market is expected to have a decline in the upcoming years as people are getting used to the animal- friendly product to increase animal diversity. There are many alternatives in the market which is giving huge competition to the market of Virgin leather.
Virgin Leather Market: COVID- impact
COVID-19 will significantly impact the industrial goods industry. This is the most affected verticals due to the COVID-19 outbreak. The market is experiencing a massive decline due to the COVID-19 outbreak as the materials made with animal body were avoided as the animal body has antigens through which the virus binds. Thus causing the infections due to which the people have stopped using animal products.
The apparel, footwear, and accessory industries are expected to see regulated growth during 2020 as a result of the COVID-19 global outbreak's never-ending supply chain disruptions. The anticipated decline in the global apparel, footwear, and accessories revenues is due to significant disruption in the supply chain across major virgin leather producers, including China and India as these countries are among the most suffered countries due to COVID 19.
During this period the market was effected with declining growth despite of availability of the raw material. Another reason which affected the virgin leather market was the E-commerce which was stopped for a given period also affected the global market. But with starting of the factories with government guild lines the virgin leather market was again having a growth but at a slower pace.
Virgin Leather Market: Segmentation Analysis
Virgin Leather Market is bifurcated into two major categories: type, end -use, and region.
Based on type, the virgin leather market is divided into:
Based on end-use, the virgin leather market is divided into:
Based on the region, the virgin leather market is segmented as:
Virgin Leather Market: Regional Outlook
North America and Europe are likely to fall behind the Asia Pacific, in terms of value and market share. The Asia Pacific region is expected to account for ~50% share of the virgin leather market in 2019 and the trend is expected to continue during the forecast period. Lucrative opportunities offered by India and China coupled with multiple initiatives by governments of these countries promoting the manufacturing of virgin leather are expected to fuel the market growth across the Asia Pacific region.
Moreover, growth in demand is anticipated to rise in the Middle East & Africa over the long-run forecast period owing to the consumer inclination towards the virgin leather. Followed by the Middle East & Africa, Latin America is set to grow at a moderate pace owing to the product saturation in the region. The growth of the virgin leather market is also depending upon the regional believes of people. Some countries like Bolivia, Austria, Australia, Belgium, Bulgaria, and Chile has banished the use of animal abuse.
The illegal hunting of animal in countries like India is affecting the animal laws which are indirectly affecting the cost of the products as the products are becoming expensive from the virgin leather market. Countries like Australia produce most of the wool in the world which leads death of more the millions of sheep’s which are then exported to the Middle East where they are used for the making the products from their skin for virgin leather market. Most of the products in US come from china. Asia pacific is the leading producer of the virgin leather.
Virgin leather market has higher revenue due to which the government is allowing its import and export under some guidelines.
Virgin Leather Market: Key Players
Major players operating in the virgin leather market include True Trident Global LLP, Virgin Leather Garments Inc., Xl Enterprises Limited, Banox, The Little Leather Factory, Hawtan Leathers, LLC. Upcoming and existing players in the current market landscape are engaged in the production of leather with different textures, colors, patterns and features. Virgin leather market also use of Aniline, Nubuck etc to produce the superior quality of the product. Several companies are entering into strategic partnerships to develop innovative and sustainable leather in line with emerging trends in the virgin leather market.
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About the AuthorAayushFMR
Joined: January 19th, 2021
Articles Posted: 295
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