Industry Statistics and Rankings
How does this industry perform in Latvia compared to Europe?
Country Benchmarking
Industry Data Latvia
Ranking are out of 37 European countries for which IBISWorld provides country-level factsheets.
Revenue
#33 In EuropeBusiness
#24 In EuropeEmployees
#30 In EuropeWages
#33 In EuropeEurope is an established leader in the production of leather and leather goods. Products made in Europe boast a reputation of having very high quality and durability, coupled with a degree of craftsmanship. Italy, France and Spain are leading nations in the production of leather and leather goods for the fashion sector. Renowned European brands, including Hermès and Louis Vuitton, offer luxury leather items which are highly sought after and command a higher price, boosting revenue and profit. However, leather producers have also faced challenges because of the shift in consumers' behaviour towards synthetic, vegan, or faux leather. The COVID-19 outbreak and severe inflationary pressures have also weakened demand. Revenue is expected to contract at a compound annual rate of 7.5% to €29.9 billion over the five years through 2024, including a 3.2% drop in 2024.
Enterprises
Number of businesses in 2024
Biggest companies in the Leather & Fur Processing & Handbag & Harness Manufacturing in Latvia
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|
There are no companies that hold a large enough market share in the Leather & Fur Processing & Handbag & Harness Manufacturing in Latvia industry for IBISWorld to include in this product.
Top Questions Answered in this Report
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What is the market size of the Leather & Fur Processing & Handbag & Harness Manufacturing industry in Latvia in 2024?
The market size of the Leather & Fur Processing & Handbag & Harness Manufacturing industry in Latvia is €3.3m in 2024.
How many businesses are there in the Leather & Fur Processing & Handbag & Harness Manufacturing in Latvia industry in 2024?
There are 86 businesses in the Leather & Fur Processing & Handbag & Harness Manufacturing industry in Latvia, which has grown at a CAGR of 6.1 % between 2019 and 2024.
Has the Leather & Fur Processing & Handbag & Harness Manufacturing industry in Latvia grown or declined over the past 5 years?
The market size of the Leather & Fur Processing & Handbag & Harness Manufacturing industry in Latvia has been growing at a CAGR of 9.6 % between 2019 and 2024.
What is the forecast growth of the Leather & Fur Processing & Handbag & Harness Manufacturing industry in Latvia over the next 5 years?
Over the next five years, the Leather & Fur Processing & Handbag & Harness Manufacturing industry in Latvia is expected to grow.
What does the Leather & Fur Processing & Handbag & Harness Manufacturing in Latvia include?
Handbags and Leather of bovine animals are part of the Leather & Fur Processing & Handbag & Harness Manufacturing industry.
How competitive is the Leather & Fur Processing & Handbag & Harness Manufacturing industry in Latvia?
The level of competition is moderate and steady in the Leather & Fur Processing & Handbag & Harness Manufacturing industry in Latvia.
Related Industries
This industry is covered in 37 countries
Domestic industries
Competitors
- Clothing Manufacturing in Latvia
Complementors
- Meat Processing in Latvia
- Clothing Manufacturing in Latvia
- Footwear Manufacturing in Latvia
- Clothing, Footwear & Leather Goods Retailing in Latvia
Table of Contents
About this industry
Industry definition
The industry is involved in the tanning, dyeing and finishing of hides, skins and fur for processing in other industries, as well as the production of various finished leather goods, including suitcases, bags and saddlery.
Related Terms
TanningSaddleryFinishingRawhidesWhat's included in this industry?
HandbagsLeather of bovine animalsTanned furskins or skinsLeather of other animalsPatent leatherSuitcases and briefcasesSaddlery and harnessOther leather articles and goodsCompanies
Industry Code
151 - Tanning and dressing of leather; manufacture of luggage, handbags, saddlery and harness; dressing and dyeing of fur in Latvia
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Performance
Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue
- Employees
- Business
- Profit
Analysis
What's driving current industry performance in the Leather & Fur Processing & Handbag & Harness Manufacturing in Latvia industry?
Outlook
Analysis
What's driving the Leather & Fur Processing & Handbag & Harness Manufacturing in Latvia industry outlook?
Volatility
Analysis
What influences volatility in the Leather & Fur Processing & Handbag & Harness Manufacturing in Latvia industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Leather & Fur Processing & Handbag & Harness Manufacturing in Latvia industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
Europe's auto industry impacts demand for leather significantly. Shifts in car manufacturing and the growing preference for luxury interiors drive this demand.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Leather & Fur Processing & Handbag & Harness Manufacturing in Latvia industry's products and services performing?
Analysis
What are innovations in the Leather & Fur Processing & Handbag & Harness Manufacturing in Latvia industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Leather & Fur Processing & Handbag & Harness Manufacturing in Latvia industry?
International Trade
Highlights
- Total Imports into Latvia
- Total Exports into Latvia
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
High-quality craftsmanship and branding drive market share concentration. Successful leather and fur goods manufacturers leverage an established brand's reputation and their ability to produce high-quality products to gain a competitive edge.
Supply Chain
Charts
Buyer and supply industries
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Establishments by Region (2024)
Data Tables
- Number of Establishments by Region (2024)
Charts
- Share of Establishments vs. Population of Each Region
Analysis
What regions are businesses in the Leather & Fur Processing & Handbag & Harness Manufacturing in Latvia located?
Companies
Data Tables
Top 0 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit margin (2024)
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
Europe's Leather industry heavily prioritises sustainable and ethical practices. This is primarily due to heavy regulations, like REACH, and policies aimed at environmental protection and animal welfare, impacting every stage of manufacturing.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Leather & Fur Processing & Handbag & Harness Manufacturing in Latvia industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
COVID-19 and rising costs hurt profit for leather goods manufacturers. The pandemic disrupted supply chains and recent inflation drove up production costs, forcing companies to pass costs to customers to maintain profitability.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Leather & Fur Processing & Handbag & Harness Manufacturing in Latvia industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.
To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.
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