Mena leather market at valued $4.6b

27/04/2016 05:34 AST

International and local tanneries, designers, suppliers and leather manufacturers are sharing centrestage this week as the Middle East's only dedicated leather industry trade show, Leatherworld Middle East 2016, opened in Dubai on Tuesday.

The exhibition was inaugurated by Butti Saeed Al Kindi, second vice-chairman of the Dubai World Trade Centre.

Running for three days at the Dubai International Convention and Exhibition Centre, Leatherworld Middle East 2016 features 70 exhibitors from 16 countries, all of which have their sights on a Middle East and North African leather market that remains in good shape.

According to analysts Euromonitor International (EMI), Mena leather trade was valued at $4.6 billion in 2015, including the import and export of raw hides, skins, furs and leather articles such as saddlery and harnesses, travel goods, handbags, wallets, apparel, and accessories.

The GCC holds a 67 per cent share of that figure, with $3.1 billion worth of exports and imports last year, spearheaded by the UAE ($1.2 billion of imports and exports) and Saudi Arabia ($497 million).

Saudi Arabia is also a leather manufacturing hub, with a production turnover of tanning and dressed leather (clothes, footwear and accessories) valued at $346 million in 2015 according to EMI, and growing nearly eight per cent over the next four years to be worth $373 million by 2019.

The UAE meanwhile is a haven of luxury spending: last year, the retail value for the UAE's luxury leather goods market, including wallets, bags, purses, handbags and accessories, grew 14 per cent year-on-year, valuing $413 million, with this expected to nearly double in size by 2020, when the market will be worth $800 million.

That will be welcomed by global and local players alike at the second edition of Leatherworld Middle East, as they look to make a mark with their latest wares, from exotic hides to finished leather goods.

"We're delighted to bring the global leather industry together under one roof at Leatherworld Middle East 2016,with exhibitors coming from all over the world - from Italy, Spain and Germany, to Turkey, Thailand, Iran, South Africa and even as far away as Trinidad and Tobago and Colombia," said Ahmed Pauwels, CEO of Messe Frankfurt Middle East, the organiser of Leatherworld Middle East.

Khaleej Times