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Global Handbag Market Size, Rising demand, Status with key players & Forecast to 2025

Handbags Retail

Updated on Sep 12, 2019

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The global handbag market size is expected to reach USD 67.9 billion by 2025, according to a new report by Radiant Insights, Inc., expanding at a CAGR of 5.4% over the forecast period. Growing brand awareness of luxury bags as a fashion symbol among adults in the developing countries including India, China, and Brazil is expected to remain a key trend in the market. Furthermore, rising female workforce on a global level is expected to promote the usage of handbags over the next few years.

By product, tote bag dominated the market in 2018. Consumers prefer these bags due to their large space. Necessary items such as mobile phone, wallet, laptop, sunglasses, documents, and makeup of the consumers can be fitted in these types of bags. As a result, these products have gained significant popularity among the working class women. Manufacturers have been expanding the product line of tote bags with new designs and better quality. In 2015, Furla, an Italian luxury company, launched Twist Tote bag under its Spring Summer collection. These tote bags are available in a wide range of colors including ocean onyx, petalo onyx, and emerald onyx.

Download Free Sample Report @ https://www.radiantinsights.com/research/handbag-market/request-sample

Leather bags dominated the market in 2018 and accounted for 48.5% share of the global revenue. Better quality and durability of the leather are driving the demand for the product across the world. Moreover, rising per capita income in the developing countries is fueling the demand for luxury goods, including leather bags.

Asia Pacific is expected to witness the fastest growth from 2019 to 2025. Availability of affordable brands, along with rising per capita income of consumers, is driving the market for the product in this region. In 2018, Coach, one of the leading brands of this industry, launched platinum 'Parker' Diwali handbag in India for the Indian festive season. These bags are made of leather and available in two different sizes.

Key competitors in this industry include Tapestry, Inc.; LVMH Moet Hennessy - Louis Vuitton SE; Michael Kors; Gucci; Fossil Group, Inc.; Ted Baker plc; Hermes International S.A.; Prada S.p.A.; Chanel S.A.; Burberry Group PLC; and Compagnie Financiere Richemont SA. Industry participants are emphasizing on the establishment of new online distribution channels as customers are increasing their spending on utilizing e-commerce portals as a selling window.

Further key findings from the study suggest:

• North America held the largest share of more than 30.0% in 2018

• The online distribution channel is expected register the fastest CAGR of 7.4% from 2019 to 2025

• The tote bag product segment held the largest share of 41.7% in terms of revenue

• By raw material, leather dominated the market in 2018 and accounted for 48.5% share of the overall revenue.

Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/handbag-market

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR's Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing

Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights

Chapter 3. Handbag Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter's Supplier Power Buyer Power Substitution Threat Threat from New Entrant Competitive Rivalry
3.6. Roadmap of Handbag Market
3.7. Market Entry Strategies

Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations

Chapter 5. Handbag Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2018 & 2025
5.2. Tote Bag
5.2.1. Market estimates and forecast, 2015 - 2025 (USD Million)
5.3. Clutch
5.3.1. Market estimates and forecast, 2015 - 2025 (USD Million)
5.4. Satchel
5.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
5.5. Others
5.5.1. Market estimates and forecast, 2015 - 2025 (USD Million)

Chapter 6. Handbag Market: Raw Material Estimates & Trend Analysis
6.1. Raw material Movement Analysis & Market Share, 2018 & 2025
6.2. Leather
6.2.1. Market estimates and forecast, 2015 - 2025 (USD Million)
6.3. Fabric
6.3.1. Market estimates and forecast, 2015 - 2025 (USD Million)
6.4. Others
6.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)


Read all Reports of this category @ https://www.radiantinsights.com/catalog/consumer-goods

About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.

Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Phone: (415) 349-0054
Toll Free: 1-888-928-9744
Address: 201 Spear Street 1100, Suite 3036,
City: San Francisco; State: California; Country: United States
Email: [email protected]
Website: https://www.radiantinsights.com/
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