Industry Analysis & Industry Trends
The Leather and Leather Substitute Product Manufacturing industry includes operators that manufacture and process leather hides and other animal skins, and companies that manufacture leather products, like wallets, saddles and handbags. The industry has struggled significantly over the past five years. Revenue is primarily driven by downstream demand from clothing and footwear manufacturers, which has declined over the past five years. While leather is a key input for these manufacturers, it also competes with other fabrics and materials. Rising demand from personal accessory retailers has partly offset this trend over the past five years, as Australian consumers have increasingly demanded luxury goods. Despite this, industry revenue is expected to fall at an annualised 5.2%... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Leather and Leather Substitute Product Manufacturing industry is in the decline stage of its life cycle. Industry value added (IVA), a measure of the industry's contribution to the overall economy, is expected to decline at an annualised 3.1% over the 10 years through 2020-21. The industry is therefore expected to underperform the overall economy, with real GDP forecast to grow at an annualised 2.6% over the same period. IVA has fallen due to weaker domestic demand for finished leather products and greater competition from imports. These factors do not promote a positive long-term operating environment for industry participants.
Most of the industry's products are well established, although some new products have been introduced over the past five years... purchase to read more