Cowhide Product Market Size, Share, Growth and Industry Analysis by Type (Shoes, Bags, Leather Goods, And, Furniture) By Application (Offline Sales, And Online Sales) Regional Forecast By 2031

Updated On: 01 April 2024

Cowhide Product Market REPORT OVERVIEW

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The global cowhide product market size is anticipated to be worth USD 174500 million in 2022, as per our research, the market is projected to touch USD 349,235.14 million in 2031 with a CAGR of 8.0% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Cowhide refers to the natural skin of a cow which is not bleached. It also includes the hair of a cow. Cowhide has the original color of the animal. This product is processed from the cattle-based food industry. This cowhide is then processed and converted into leather. Cowhide is used for the preparation of several products and these are referred to as cowhide product.

Variety of products like rugs, pillows, carpets, and lampshades are being manufactured using cowhide. This is considered as the latest trend in the market.   

Products that are manufactured from cowhide are of high quality and very easy to maintain. They add a touch of luxury and are chemical free. All of these factors have helped in the development and growth of cowhide product market share.

COVID-19 impact: Decline in Cattle Industry Reduced Market Growth

The pandemic of COVID-19 severely hit all the industries. The sudden drop in the economy affected every market across the world. Cowhide products market also experienced a decline in the demand. Another problem that was faced in the market was the difficulty in manufacturing cowhide products.

In order to manufacture cowhide products, cow or cattle skin is required. During pandemic, cattle industry did not operate in full capacity due to factors like shortage of labor, and risk of infection from the virus. Therefore, the manufacturers faced a lot of difficulties in obtaining cowhide to manufacture products from them. The cowhide product market saw a decline during the pandemic period.

LATEST TRENDS

"Availability of Various Products from Cowhide to Increase Market Growth"

Cowhide is a material which is suitable for manufacturing not a single product but variety of products. Several products can be extracted from cowhide. These products are suitable for different needs. Originally, only cowhide rugs were manufactured. But with the emergence of new manufacturing techniques, several other products have been introduced in the markets.

Cowhide pillows, cowhide rugs, furniture made up of cowhide, lampshades, cowhide gun cases, and bottle cozy, are some of the products that can be prepared using the products. As various products can be prepared using a single raw material it become highly convenient for the manufacturers to produce them. This is considered as the newest development in the market.

Cowhide Product Market SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments:

Shoes, bags, leather goods, and, furniture. The shoes segment is anticipated to dominate the market during the forecast period.

• By Sales Channel:

Classification based on Sales channel into the following segment:

Offline sales, and online sales. The offline sales segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"High Quality of Cowhide Products to Accelerate Market Growth"

Cowhide is a very strong, and, a durable material. It does not tear away easily and can withstand pressure and pull. It also has the ability to take in foot traffic caused due children, and pets. Due to these qualities the products manufactured from this material are of high quality and can bear many wears and tears.

Along with having great quality cowhide is very easy to maintain. Certain leather products require extensive care when it comes to maintenance. However, cowhides can be very easily maintained.  Soap and water can be used to remove the dirt. It can also be vacuumed with a lot of easy. As cowhide products are durable and can be maintained very easily many people prefer to use these products. This factor is prone to bring vast market growth.   

"A Touch of Luxury Provided by These Products to Propel Market Growth "

Apart from being used for daily needs and convenience, cowhide products can also be used for giving a touch of luxury. The soft and glossy texture of cowhide products are well suitable for interior designing. This factor can propel the market share.

Cowhide products are highly versatile. They can be used on floors, on walls as tapestries, and as well as blankets. They are completely chemical free. Cowhides are also hypoallergenic. That is people with allergies will not have to worry about using products made up of cowhide material as they do not cause any kind of reaction. All of these advantages can help in cowhide product market growth.  

RESTRAINING FACTOR

"Harm Caused to Cattle and Environment to Bring Down Market Growth"

Cowhides are one of the best suited materials to manufacture various products like rugs, mats, and even pillows. They have several good features that attract customers to them. However, cowhide is obtained from cows, that is primarily from cattle.

Many animals are slaughtered for obtaining cowhide. This has given rise animal safety concern. According to a research cow’s skin is the most commonly used skin among others. Processing cowhide is not only a threat to the life of animals it can also indirectly harm the environment. These factors can deteriorate cowhide product market growth.

Cowhide Product Market Regional Insights

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"North America to Dominate the Market in The Upcoming Years"

North America is the leading player in the cowhide products market. It occupies nearly half of the market share. The prime reason for this is the large number of customers that come from countries in North America.

North America has a lot of well-established luxury brands. These luxury brands use cowhide intensively to manufacture their products. Also, the versatility of products manufactured using cowhide attracts customers to buy them. These factors have increased the cowhide product market share in North America.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the global market.

List of Market Players Profiled

• LVMH (France)
• Kering (France)
• Tapestry (U.S.)
• Hermes (France)
• Caleres (U.S.)
• Belle (China)
• Man Wah (Hong Kong)
• Gujia Home Furnishing (China)
• CHANEL (U.K.)
• Prada Group (Italy)
• Aokang (China)
• Burberry (U.K.)
• Natuzzi (Italy)
• Red Dragonfly (China)
• Salvatore Ferragamo (Italy)
• Malima (Malaysia)
• Goldlion (Hong Kong)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations.