Global Handbags Market Size By Product Type (Satchel, Bucket, Clutch, Tote), By Distribution Channel (Online and Offline Retail Stores), By Geographic Scope And Forecast

Handbags Market Size And Forecast

Handbags Market size was valued at USD 48.96 Billion in 2021 and is projected to reach USD 77.81 Billion by 2030, growing at a CAGR of 5.28% from 2023 to 2030.

The growth in the women workforce increased the usage of Handbags among working-class women on a global level. The rising women workforce is resulting in upsurging income, along with growing brand awareness in the developing countries, which have been boosting the industry growth significantly.

Handbags play as a major fashion statement in the rising fashion industry which drives the Handbags Market. Also, the increasing social media influence on the consumers from Instagram, TikTok and Facebook is responsible for the inclination of potential consumers toward the market. Handbags companies are targeting their product range at the global young adult population as the majority of this age group is engaged in these social media platforms.

Global Handbags Market Definition

Handbags allow the user to carry a number of essential items of personal use in one bag, it makes it for women to carry their stuff with ease. Handbags have become an essential accessory of women’s wardrobes. Handbags are usually meant to complete their attire and ladies like to carry it with style. It is a trending market in the fashion industry.

Furthermore, the increasing obtainability of fashionable and innovative products is fueling the growth of leather bags over the world. The availability of a wide range of bags such as tote, satchel, clutch bags and many more in the market for consumers has also boosted the demand for these bags and the Handbags Market is on the boom.

Global Handbags Market Overview

Ladies are becoming brand conscious about their consumption choices, especially those that reflect their style and personality. Most of the potential consumers limited their spending on fashionable accessories and appeals and often look for affordable accessories, thus affordable item increasing the consumer base. Hence, the handbag segment has witnessed an evolution in the recent past globally.

The Handbags Market is a popular product and manufacturers of the Handbags face heavy competition globally. The presence of counterfeit products is one of the key challenges faced by brands globally. The market growth in the near future is expected to be affected by high import duty.

Nonetheless, the increasing availability of fashionable and innovative products is fueling the growth of Handbags especially leather bags over the world. Leather is one of the most widely traded commodities in the world and due to continuous demand from the fashion industry for Handbags. This is due to the increase in the production of light leather for Handbags and its imports from Asian countries such as China, India, and Vietnam. Furthermore, an increase in the growth of e-commerce, with the facilities of online shopping, is also expected to contribute significantly to the growth of the retail market.

Global Handbags MarketSegmentation Analysis

The Global Handbags Market is segmented on the basis of Product Type, Distribution Channel, and Geography.

Handbags Market, By Product Type

• Satchel• Bucket Bag• Clutch• Tote Bag• Others

Based on product type market can be segmented into Satchel, Bucket, Clutch, Tote. Tote and Satchel bags are the highest growing being the latest trend in the Handbags industry. Companies are staying in sync with the fashion and manufacturing Handbags that cater to the demand of the global Handbags Market.

Handbags Market, By Distribution Channel

• Online Retail Stores• Offline Retail Stores

Based on Distribution Channel, the market is divided into online and offline retail stores. The offline retail store segment accounted for the highest market share. Exclusive retail stores have gained remarkable popularity among females and producers have also strengthened their distribution channel.

Handbags Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

Looking at how things are shaping up around the globe, the Global Handbags Market can be broken down into North America, Europe, Asia Pacific, and everywhere else. We're expecting to see Asia Pacific really take off with the fastest growth! This is largely due to people having more money and embracing trends from Western countries. To keep up with demand, manufacturers are beefing up how they get their products into the region. China, in particular, stands out – they've seen a huge jump in handbag imports lately. And with folks in developing countries like China and India earning more, we anticipate that the handbags industry will continue to boom.

Key Players

The “Global Handbags Market” study report will provide valuable insight emphasizing the global market. The major players in the market are Celine, Chanel, Christian Dior, Coach, Prada, Hermes, LVMH Moët Hennessy Louis Vuitton, Michael Kors, Fossil, and Gucci. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Report Scope

Top Trending Reports

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

We'll dive deep into the market, looking at it from all angles – both the numbers and the more nuanced stuff that shapes it. You'll get the market value (in USD Billion!) broken down for every piece of the pie. We'll pinpoint which areas and groups are set to explode with growth and who's leading the pack right now. Expect a geographical breakdown showing where the product/service is really taking off and what's driving those regional differences. We'll also map out the competition, ranking the big players and charting their new launches, partnerships, expansions, and acquisitions over the last five years. Think detailed company profilesoverviews, insights, product comparisons, and SWOT analyses for the key players. You'll get a handle on today's market situation and where it's headed, especially with new opportunities, driving forces, and potential roadblocks in both established and emerging markets. We'll even use Porter's five forces to really dig into the market from different viewpoints, and we'll give you a good look at the Value Chain to understand how everything flows. Finally, we’ll explore market dynamics and the growth potential that's on the horizon. Oh, and don't forget, you get 6 months of analyst support after you buy!

Customization of the Report

• In case of any please connect with our sales team, who will ensure that your requirements are met.