According to the latest report by IMARC Group, titled “Handbag Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global handbag market exhibited negative growth during 2015-2020. Looking forward, the global handbag market is expected to grow at a CAGR of around 6% during the forecast period (2021-2026). Handbag refers to a fashion accessory primarily used by women to hold essential and personal utility products. It is available in a wide variety of sizes, colors, and patterns. Handbags are generally manufactured by stitching multiple pieces of cloth or leather together. Some of the common product variants available in the market include shoulder, satchel, handheld and sling bags. At present, gender-neutral bags are also gaining traction among the consumers of all 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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Rapid urbanization along with the expanding fashion accessories sector is primarily driving the market growth. Furthermore, a significant increase in the female workforce across both developed and emerging countries has contributed to demand for handbags. Additionally, most of the working professionals prefer carrying multiple essential items, such as tablets, laptops, wallets and edibles, in their handbags. This has led the market players to develop handbags that are highly functional and equipped with laptop sleeves, mobile and key holders. Besides this, the easy availability of handbags on online retail channels offering a wide product range, hassle-free shopping experience and lucrative discounts is further catalyzing the market growth. In the coming years, the growing popularity of specific products for men, along with the introduction of eco-friendly product variants, are anticipated to drive the global market for handbags.
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Key Market Segmentation:
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
Breakup by Product Type:
- Bucket Bag
- Tote Bag
Breakup by Material Type:
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Departmental Stores
- Specialty Stores
- Discount Stores
- Online Stores
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (Germany, France, United Kingdom, Italy, Spain, Others)
- Europe (China, Japan, India, Australia, Indonesia, Korea, 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 (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the 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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