Luxury handbag market size to increase by USD 16.90 billion | Design and hardware innovation leading to product premiumization to drive market growth



Key market dynamics:

  • Market engine
  • Market challenges

Innovation in design and materials leading to premiumization of products and the strong influence of celebrity mentions on purchasing decisions are some of the main drivers of the market. However, factors such as the presence of counterfeit products will challenge the growth of the market.

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The Luxury Handbags market report is segmented by distribution channel (offline and online) and geography (Europe, North America, APAC, South America, and MEA). Europe will be the first region with 32% market growth during the forecast period. France, the United Kingdom and Italy are the key markets for luxury handbags in Europe.

See our sample report for additional information on the contribution of all segments and regional growth.

Some companies mentioned

  • Burberry Plc Group
  • CHANEL SA
  • Compagnie Financière Richemont SA
  • Dolce & Gabbana Srl
  • Hermès International
  • To access more supplier profiles with their key offers available with Technavio, Click here

Associated reports:

Handbag market in India by product and distribution channel – Forecast and analysis 2021-2025

Leather Handbags Market by Distribution Channel and Geography – Forecast and Analysis 2021-2025

Tote Bags Market by Distribution Channel and Geography – Forecast and Analysis 2021-2025

Scope of the luxury handbag market

Cover of the report

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth dynamics and CAGR

Accelerate to a CAGR of almost 5.60%

Market growth 2021-2025

$ 16.90 billion

Market structure

Fragmented

Annual growth (%)

3.02

Regional analysis

Europe, North America, APAC, South America and MEA

Efficient contribution to the market

Europe at 32%

Main consumer countries

United States, China, France, Italy, United Kingdom and Japan

Competitive landscape

Leading companies, competitive strategies, reach of consumer engagement

Profiled companies

Burberry Group Plc, CHANEL Ltd., Compagnie Financière Richemont SA, Dolce & Gabbana Srl, Hermes International, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, PRADA Group, Ralph Lauren Corp. and Tapestry Inc.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Obstacles, Analysis of Fast Growing and Slow Growing Segments, Impact of COVID-19 and Future Consumer Dynamics, Analysis of Market Conditions for the Forecast Period.

Customization

If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.

Main topics covered:

  • Abstract
  • Market landscape
  • Market sizing
  • Five forces analysis
  • Market segmentation
  • Customer landscape
  • Geographic landscape
  • Supplier landscape
  • Supplier analysis
  • Annex

About Us
Technavio is one of the world’s leading technology research and consulting companies. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s library of reports. Their client base consists of companies of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, in-depth research and expertise. actionable market information to identify opportunities in existing and potential markets and assess their competitive positions in changing market scenarios.

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SOURCE Technavio


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