Local demand for leather products continues to grow as the country
experiences steady economic growth with increasing middle-income class. By
2025, 30 to 40 million people are forecasted to join the entry level of
middle-income class, another 30 million may reach the aspirant/ emerging
middle class. In particular, domestic footwear market has been growing at
the rate of 10-15% per annum, where per capita consumption of footwear has
increased to 3 pairs from 1.7 pairs several years ago.
The Global leather goods market is values at USD 241 billion in 2020 and is expected to reach 306.1 billion by 2027. Bangladesh exports 60% of its annual produce of leather goods