The Global Handbags Market Size is estimated to expand rapidly in coming years, at a CAGR of 4.85 % from 2018 to 2025. In 2017, the global market valuation was USD 2.8 billion, and it is anticipated to be greater than USD xx.xx billion by 2025. Handbags are the bags that are larger than a purse or a pouch which are basically used to carry objects. Handbags are considered an essential part of the fashion industry. In the modern world, handbags play a vital role in the life of a woman because handbags are not only used for fashion purpose but also to carry daily essentials such as phone, keys, money and other personal things. The fashion industry has witnessed remarkable growth in the market of handbags. Key manufacturers and designers are investing more wealth in the market to apprehend the major buyers and are promoting growth in the industry.

Consumers these days are aware of the latest fashion trends because of growing internet and the impact of social media which is likely to drive the market in the forecast period. Growing consumer preference for branded handbags along with shoes, perfumes, and belts is playing an important role in the global market. According to the research, North America is going to be the highest growing industry in the market of global handbags.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global handbags market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global handbags market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.

Segment Analysis

By Type Insights: on the basis of type, global handbags market has been segmented into a satchel, bucket bag, clutch, tote bag, backpack, baguette bag, hobo bag, and athletic bags. Amongst these products satchel and tote bags are highest trending bags in the market and are expected to capture the high market in the forecast period. A satchel bag is a bag which often comes with a strap, worn diagonally across the body and mostly used to carry books and educational material. Likewise a tote bag is a large bag with long handles which is normally used to carry a number of materials. Handbags made of leather are expected to hold significant growth in the market due to their properties such as high strength and durability.  

By Distribution Channel Insights: On the basis of distribution channel, global handbags market has been segmented into the departmental store, single-branded stores and online distribution channel. According to the research online distribution channel has accounted for highest share in the global market due to convenient way of shopping. The large number of designing brands are uploading their content online to attract the new customers which is expected to drive the market in forecast period. Presence of large number of brands available online is expected to impact the market in forecast period.

Regional Analysis

The handbags market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. In terms of region, North America is expected to witness high growth in upcoming time period due to rising consumer preference for high quality and durable handbag products and the presence of key manufacturers in the area. Moreover changing fashion trends and designers introducing innovative designs for handbag products is encouraging the market in the region.

Asia Pacific region is expected to witness high growth in the market in forecast period. Countries in Asia Pacific region such as China and Japan are key suppliers of leather and raw fabric material, which will support the market growth in the Asia Pacific region. Strategic pricing and as well as the unique marketing ideas has attracted the customers and contributed massively in the global market of handbags. Europe is anticipated to dominate the global handbags market over the projected period majorly owing to high consumer demand and preference for designer handbags. The Middle East and Latin America showed spontaneous growth in the market due to increasing demand from the users and high adoption of fashion trends.

Global Handbags Market Size, Share Analysis by Region 2017

Global Handbags Market Study Objective

To forecast the market size of global handbags market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players. Market analysis and forecast of global handbags market on the basis of region, substrate and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively. To analyze and elaborate significant factors that will have major impact on the growth of global handbags market, such as drivers, restraints, challenges and opportunities. A regional analysis of global handbags market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa, and the Asia Pacific. Strategic analysis of micro markets, in terms of individual prospects, opportunities, growth trends and their involvement in the overall market. To provide detailed analysis of competitive and strategic developments in the global handbags market like a new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

Key Players Landscape

LVMH Moët Hennessy Louis Vuitton S.E, Michael Kors , Nine West Holdings, Inc., Prada S.p.A., Tapestry, Inc., Ted Baker plc, and Tory Burch LLC, Burberry Group Plc, Chanel S.A., Compagnie Financière Richemont SA , Fossil Group, Inc., Gucci America, Inc., Hermès International S.A. are some of the key players in the market of handbags.

Global Handbags Market Study Report Offer You!

The global handbags market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.