Global Canvas Bags Market - 2024-2031

Global Canvas Bags Market - 2024-2031

Global Canvas Bags Market reached US$ 1.1 billion in 2023 and is expected to reach US$ 1.5 billion by 2031, growing with a CAGR of 4.2% during the forecast period 2024-2031.

Canvas bags are easily customized, allowing for personalized messages and graphics. Its growing popularity as a fashion accessory originates from the variety of available styles and designs. It adapt to individual tastes while fostering environmental conscience through their fashion adaptability. The trend coincides with rising customer interest in environmentally friendly and fashionable alternatives, which is driving the canvas bag market even further.

Social media has accelerated the adoption and abandonment of fashion trends. Over the past few years, social media has had the greatest impact on the fashion industry. For example, a survey conducted by UNCTAD (United Nations Conference on Trade and Development) in collaboration with the NIC.br (Brazilian Network Information Center) in October 2021 showed that online purchases had increased by 6-10% across various product categories, including personal care, cosmetics and fashion accessories.

In 2023, North America is expected to be the dominant region with about 35% of the global canvas bags market. The product's demand in U.S. has been drove by the rapid rise of the corporate and organizational sectors. According to a November 2021 poll conducted by The International Council of Societies of Industrial Design, the average American lady owns 11 handbags and spends around US$ 160 on each one. Thus, women's significant expenditure on handbags in the country contributes to the market's growth.

Dynamics

Growing Female Working Population

Modern professional women desire a balance of style and functionality, therefore purses are essential to their daily routines. The companions carry work-related materials such as laptops, paperwork and planners, as well as personal basics like wallets, cosmetics and electrical devices. The results of a poll done by Circana, a media corporation, in June 2023 revealed that 39% of American women aged 18 to 34 carry a handbag to work or school.

The increased use of handbags by working women is expected to become a market trend. For example, according to data provided by U.S. Bureau of Labor Statistics in April 2021, American women held 57.4% of all employment in 2019, compared to 57.1% in 2018. The increase in the female working population is responsible for market growth.

Rising Regulations and Environmental Sustainability

The increased awareness of environmental issues and the negative effects of single-use plastics has resulted in a greater desire for eco-friendly alternatives. Canvas bags manufactured from natural fibers such as cotton or hemp are seen as more sustainable than plastic bags due to their biodegradability, reusability and decreased environmental impact. Government restrictions aimed at decreasing plastic pollution and encouraging sustainable practices have contributed to the rise of the canvas bag sector.

Rashki, an Indian sustainable fashion company, collaborated with Atma Leather in April 2023 to launch India's first collection of banana leather handbags. Rashki has introduced a broad collection of bags made by Banofi, including the striking Snow black and white crossbody bag, the ecologically responsible Unica Eco handbag with lovely hardwood handles and the multipurpose Fede tote bag.

Price Sensitivity and Presence of Alternatives

Canvas bags, especially those made of high-quality materials or with unique patterns, may cost more than bags made of synthetic materials or substitutes. Price sensitivity among customers, particularly during economic downturns or periods of reduced disposable income, can limit their willingness to pay higher costs for canvas bags, affecting sales and market growth.

Canvas bags compete with bags made of synthetic fabrics (e.g., polyester, nylon), leather and eco-friendly alternatives such as jute or recycled plastics. Consumers may select these alternatives based on considerations such as cost, durability, fashion trends or specific functional requirements, limiting the market potential for canvas bags.

Segment Analysis

The global canvas bags market is segmented based on type, weight, end-user and region.

Rising Korean Fashion and Stylish Nature of Tote Bags Drives the Segment Growth

Canvas tote bag is expected to be the dominant segment with over 30% of the market during the forecast period 2024-2031. Tote bags are versatile bags that can be used for a variety of purposes. Tote bags are popular with consumers because of their size and substance. Korean fashion and aesthetics are gaining popularity among younger consumers, which is increasing tote bag sales. Furthermore, the trendy nature of totes allows shoppers to make a fashion statement on formal events.

Tote bags are regarded more environmentally friendly since they can be reused, which reduces the demand for disposable bags. It is consistent with environmental efforts to prevent plastic litter. For example, in 2021, Anya Hindmarch, a fashion designer based in England, teamed with Sainsbury's and Waitrose supermarket chains in UK to reuse shopping tote bags to address sustainability issues.

Geographical Penetration

Rising Purchasing Power in Europe

Europe is the second-dominant region in the global canvas bags market covering more than 20% of the market. The market in the region is being driven by an expanding economy, rising disposable income and increased use of handbags. Increasing options to employ a variety of handbags, as well as rising desire for aesthetically pleasing handbags, are all helping to drive market expansion. The German market is powered by increased consumer purchasing power and the expansion of online shopping platforms.

Furthermore, rising fashion consciousness and expenditure on accessories are important drivers of market growth. According to Trading Economics, Germany's disposable personal income rose from EUR 578.39 billion in the first quarter of 2023 to EUR 591.06 billion in the second quarter of 2023. A gain in disposable income increases the country's spending capacity, resulting in a surge in goods sales.

Competitive Landscape

The major global players in the market include Cross Canvas Company, MARIE THOMSON, Tarps Now, LBU Inc, A. Smith & Son, Inc, PELI Products, Landes Inc, Frontier Bag Company, Carolina CoverTech and Casco Manufacturing Solutions, Inc.

COVID-19 Impact Analysis

The epidemic initially affected global supply lines, disrupting the production and distribution of raw materials used to make canvas bags. Lockdowns, plant closures and shipping restrictions in major manufacturing regions such as China caused delays and material shortages, limiting the production capacity of canvas bag producers globally.

With growing environmental consciousness and a desire to limit single-use plastic use, customers are increasingly choosing reusable canvas bags for shopping, vacation and everyday use. The advent of e-commerce during the pandemic increased demand for canvas bags, especially those designed for online shopping and home delivery. Canvas tote bags, in particular, gained popularity as eco-friendly alternatives to plastic bags for transporting groceries and other items acquired online.

Russia-Ukraine War Impact

Both Russia and Ukraine are major producers and exporters of raw materials such as cotton and textiles, which are often utilized in the production of canvas bags. Any disruption in the supply chain caused by the conflict, like as transportation delays, export bans or trade restrictions, might have an impact on the availability and pricing of raw materials for canvas bag manufacturers globally.

Geopolitical instability and uncertainty can have an impact on consumer confidence and sentiment, influencing purchase decisions and demand for non-essential items like canvas bags. Economic downturns or market concerns caused by the conflict may result in decreased consumer spending on discretionary items, impacting the demand for canvas bags in impacted regions or globally.

By Type
• Backpack
• Canvas Sling Bag
• Canvas Tote Bag
• Grocery Bag
• Gift Bag
• Others

By Weight
• Less than 5 oz.
• 6 to 10 oz.
• 11 to 15 oz.
• 16- 20 oz.
• More Than 20 oz.

By End-User
• Retail and Fashion
• Travel and Tourism
• Education
• Promotional and Branding
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In 2023, Titan Business Irth has unveiled its first collection of canvas purses for ladies. The new launch is intended to broaden the brand's product range by venturing into resort-style accessories. The bags have naturally tanned genuine leather details and metallic embellishments with a rustic brass finish.
• In April 2020, Samsonite International S.A. purchased eBags, a well-known digital retail specialist in bags. The strategic move has led the corporation to assert its dominance not just in the online tote bag retail industry, but also in the globally canvas bag market.

Why Purchase the Report?
• To visualize the global canvas bags market segmentation based on type, weight, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of canvas bags market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global canvas bags market report would provide approximately 62 tables, 59 figures and 198 pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies