Global Handbag Market 2023-2027
Technavio has been monitoring the handbag market and is forecast to grow by $14110.72 mn during 2022-2027, accelerating at a CAGR of 4.3% during the forecast period. Our report on the handbag market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the personalization and customization of luxury handbags, increasing marketing campaigns, celebrity endorsement, and brand promotion activities, and increased consumer fashion consciousness and spending on personal goods.
Technavio's handbag market is segmented as below:
By Type
By Distribution Channel
By Geographical Landscape
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the increased demand at airport retail stores as one of the prime reasons driving the handbag market growth during the next few years. Also, the rising popularity of eco-friendly handbags and growing preference for affordable luxury handbags will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the handbag market covers the following areas:
- Handbag market sizing
- Handbag market forecast
- Handbag market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading handbag market vendors that include Burberry Group Plc, CHANEL Ltd., Compagnie Financiere Richemont SA, Deeya International, Dolce and Gabbana S.r.l, Fossil Group Inc., Hermes International SA, Kering SA, Macys Inc., MCM Products USA Inc., Michael Kors Switzerland GmbH, Nath Brothers Exim International Ltd., Prada S.p.A, PVH Corp., Samsonite International SA, Tapestry Inc., Ted Baker PLC, The LVMH group, Tory Burch LLC, and VALENTINO Spa. Also, the handbag market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.