A 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 usually made by sewing several pieces of fabric or leather together. Some of the common product variations available in the market include shoulder bags, satchels, handbags, and crossbody bags. Right now, gender neutral bags are also gaining traction among consumers of all age groups.
According to the latest IMARC group report, entitled “Handbags Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2021-2026“, the global handbag market experienced negative growth during the period 2015-2020. Looking ahead, the global handbag market is expected to grow at a CAGR of around 6% during 2021-2026.
We regularly monitor the direct effect of COVID-19[female[feminine on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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The rapid urbanization as well as the expanding fashion accessories sector is the main driving force behind the growth of the market. In addition, a significant increase in the female workforce in developed and emerging countries has contributed to the demand for handbags. Additionally, most professionals prefer to carry several essentials, such as tablets, laptops, wallets, and edibles, in their purses. This has led market players to develop highly functional handbags equipped with laptop cases, key chains and laptops. In addition to this, the easy availability of handbags on online retail channels offering a wide range of products, hassle-free shopping experience, and lucrative discounts is further catalyzing the growth of the market. In the coming years, the growing popularity of specific products for men, along with the introduction of eco-friendly product variants, are expected to drive the global handbag market.
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Key market segmentation:
The competitive landscape of the market has been studied in the report along with the detailed profiles of the major players operating in the market.
Some of these key players include:
- Burberry Group
- Chanel International BV
- Christian Dior SE
- Etienne Aigner
- Kate Spade & Company
- HermÃ¨s International
- Michael kors
- Nicole lee
- Prada Holding BV
Breakdown by product type:
- Bucket bag
Breakdown by type of material:
Breakdown by distribution channel:
- Supermarkets and hypermarkets
- Department stores
- Specialty stores
- Discount stores
- Online stores
Breakdown by region:
- 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, others)
Highlights of the report:
- Market performance (2015-2020)
- Market Outlook (2021-2026)
- Impact of COVID-19 on the market
- Porter’s Five Forces Analysis
- Historical, current and future market trends
- Market drivers and success factors
- SWOT analysis
- Market structure
- Value chain analysis
- Complete 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 part of the customization.
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