The latest report by IMARC Group, titled “Handbag Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global handbag market is expected to exhibit a CAGR of 6.1% during 2022-2027.
Handbag Market Overview:
A handbag represents a fashionably designed handheld accessory that is utilized to carry essential items of personal use. It is generally available in a wide variety of sizes, colors, and patterns. Handbags are manufactured by stitching multiple pieces of leather or cloth together. Some of the common product types include satchel, shoulder, handheld, sling, etc. Presently, gender-neutral bags are also gaining traction among consumers across age groups.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Handbag Market Trends:
The escalating demand for visually appealing fashion accessories is primarily driving the handbag market. Additionally, the easy product availability on online retail channels, which are also offering a hassle-free shopping experience, flexible payment modes, lucrative discounts, etc., is further catalyzing the market growth. Besides this, the growing inclination among working professionals towards carrying multiple essential items, such as tablets, laptops, wallets, edibles, etc., in their handbags is encouraging the key market players to launch bags that are highly functional and equipped with mobile holders and laptop sleeves, which is acting as another significant growth-inducing factor.
Moreover, the inflating popularity of luxury handbags with exclusive designs, owing to the elevating consumer expenditures on maintaining an aesthetic and materialistically sophisticated lifestyle, is also augmenting the global market. Apart from this, the introduction of product variants that are made from eco-friendly materials, on account of the rising focus on sustainable development, is anticipated to fuel the handbag market over the forecasted period.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Burberry Group
- Chanel International BV
- Christian Dior SE
- Etienne Aigner
- Kate Spade & Company
- Hermès International
- Michael Kors
- Nicole Lee
- Prada Holding BV
Key Market Segmentation Breakup by:
- Bucket Bag
- Tote Bag
- Supermarkets and Hypermarkets
- Departmental Stores
- Specialty Stores
- Discount Stores
- Online Stores
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
- Scope and Methodology
- Executive Summary
- Global Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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