Global Handbags Market Growth 2023-2029

Global Handbags Market Growth 2023-2029

Handbags are fashionably designed handheld bag used to carry essential items of personal use. Typically, these handbags are larger than a purse or pouch. Handbags are accessories that are used to hold objects such as currency and other personal items. The handbags industry is experiencing a boom, with designer handbags and other varieties commanding thousands of dollars. Handbags are essentially bags that also include purses, satchels, and wallets among others that come in a variety of sizes and are a product of certain fashion designs. Handbags are considered to be some important accessory in the fashion world, especially for women and are considered as a completion piece in the woman’s wardrobe.

LPI (LP Information)' newest research report, the “Handbags Industry Forecast” looks at past sales and reviews total world Handbags sales in 2022, providing a comprehensive analysis by region and market sector of projected Handbags sales for 2023 through 2029. With Handbags sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Handbags industry.

This Insight Report provides a comprehensive analysis of the global Handbags landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Handbags portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Handbags market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Handbags and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Handbags.

The global Handbags market size is projected to grow from US$ 36770 million in 2022 to US$ 49980 million in 2029; it is expected to grow at a CAGR of 49980 from 2023 to 2029.

The handbags market is a popular product and manufacturers of the premium brands of handbags face heavy competition globally and they need to keep up to the demand and consumer preference of the global handbag market. North America, Europe, Asia- Pacific, Latin America, Middle East and Africa manufacture and sell handbags. Owing to its rising demand, manufacturers of the handbags are spending on preparing better quality handbag products and are using improved leather and chains. North America followed Europe handbags market are the leading regions globally that are reported to heavily purchase handbags as they are more trendy and have more purchasing power. Other regions like the Asia-Pacific, Latin America, Middle East and Africa are also reported to show a remarkable growth in the consumption of the handbags due to their adoption of culture from the western countries. The strategic pricing of the handbag products has attracted the customers with unique selling ideas and have contributed massively in the handbags industry.

This report presents a comprehensive overview, market shares, and growth opportunities of Handbags market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Satchel
Bucket Bag
Clutch
Tote Bag
Backpack
Baguette Bag
Hobo Bag
Athletic Bags

Segmentation by application
Departmental Store
Single-Branded Stores
Online

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Michael Kors
Coach
Burberry
Tory Burch
LVMH
D&G
Mulberry
Prada
Chanel
Hermès

Key Questions Addressed in this Report

What is the 10-year outlook for the global Handbags market?

What factors are driving Handbags market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Handbags market opportunities vary by end market size?

How does Handbags break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.