Handbag Global Market Report 2024

Description

A handbag is a fashion accessory primarily utilized by women to carry essential personal items. Available in a diverse range of sizes, patterns, and colors, handbags are typically crafted by stitching together multiple pieces of cloth or leather. They serve both functional and aesthetic purposes, complementing various styles and outfits.

The primary types of handbag products include satchels, clutches, tote bags, and bucket bags. Satchels are versatile and timeless bags that find widespread use in various contexts. They are crafted using different materials such as leather, fabric, and synthetic materials. These handbags are distributed through various channels, including online and offline platforms, catering to both the men's and women's segments.

The handbag market research report is one of a series of new reports from The Business Research Company that provides handbag market statistics, including handbag industry global market size, regional shares, competitors with handbag market share, detailed handbag market segments, market trends, and opportunities, and any further data you may need to thrive in the handbag industry. This handbag market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The handbag market size has grown strongly in recent years. It will grow from $58.5 billion in 2023 to $63.07 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth observed in the historic period can be attributed to several factors, including shifts in fashion trends and styles, the influence of luxury brands, an increase in disposable income, celebrity endorsements, and the functional versatility of handbags as fashion accessories. These elements collectively contributed to the growing demand for and popularity of handbags during that period.

The handbag market size is expected to see strong growth in the next few years. It will grow to $81.4 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The anticipated growth in the forecast period can be attributed to the increasing emphasis on sustainability and ethical practices, the rise of secondhand and vintage markets, a growing demand for customization and personalization, cross-industry collaborations, and the globalization of the fashion industry. Major trends expected in the forecast period include the integration of technology, the use of digital influencer marketing, innovations in materials and design, the incorporation of technology into products, and a heightened emphasis on inclusivity and diversity within the fashion industry.

The anticipated growth in the female workforce is expected to drive the expansion of the handbag market. The female workforce represents women actively participating in employment or labor across various industries, sectors, and professions. As more women enter the workforce and achieve financial independence, their purchasing power increases, leading to investments in accessories such as handbags that cater to both professional needs and diverse social and recreational activities. In March 2023, the UK Parliament reported a female employment rate of 72.3% from October to December 2022, illustrating the significant presence of women in the workforce. The rise in the female workforce is a key factor propelling the growth of the handbag market.

Prominent companies in the handbag market are actively innovating by introducing new products, such as the stylish Tribeca handbag, to enhance their profitability. The Tribeca handbag, launched by Michael Kors LLC in January 2024, stands out as a popular and fashionable accessory. Crafted from supple, quilted leather, it offers diverse styles such as cross-body and shoulder bags. The handbag exudes sophistication with its polished push-lock fastening, combining practicality with style to accommodate personal items such as wallets, phones, and keys. This chic and luxe handbag becomes an ideal choice for everyday use, reflecting the industry's focus on meeting evolving consumer preferences.

In August 2023, Tapestry, Inc., a US-based luxury fashion holding company, completed the acquisition of Capri Holdings Ltd. for $8.5 billion. This strategic move brings together six highly complementary brands with global reach, leveraging Tapestry's data-rich customer engagement platform and diversified direct-to-consumer operating model. Capri Holdings Ltd., a US-based company, is recognized for designing exceptional and innovative products across the full spectrum of fashion luxury categories. This acquisition positions Tapestry, Inc. to strengthen its presence in the luxury fashion market and capitalize on the synergies between the combined brands.

Major companies operating in the handbag market report are VIP Industries Ltd., Louis Vuitton Malletier, H and M Hennes and Mauritz GBC AB, Chanel Ltd., Hermes International S.A, Fendi, Guccio Gucci S.p.A, Coach IP Holdings LLC, Tapestry, Inc., Victorias Secret and Co, Prada S.p.A, Michael Kors, Burberry, Calvin Klein Inc., ALDO Group Inc., Fossil Group Inc., Kate Spade, Zouk, Ted Bakerr, Loewe (LVMH), Zadig & Voltaire, BAGGIT, Tumi (Samsonite), Anya Hindmarch, Lino Perros, Da Milano Leathers Pvt. Ltd., Aranyani, Deeya International, MCM Worldwide, Proenza Schouler

North America was the largest region in the handbag market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the handbag market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the handbag market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The handbag market consists of sales of shoulder, satchel, handheld, and sling bags Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Handbag Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on handbag market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for handbag ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The handbag market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

1) By Product Type: Satchels; Clutches; Tote Bags; Bucket Bags
2) By Material: Leather; Fabric; Synthetic
3) By Distribution Channel: Online; Offline
4) By End User Analysis: Men Segment; Women Segment
Companies Mentioned: VIP Industries Ltd.; Louis Vuitton Malletier; H and M Hennes and Mauritz GBC AB; Chanel Ltd.; Hermes International S.A
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r16463

1. Executive Summary

2. Handbag Market Characteristics

3. Handbag Market Trends And Strategies

4. Handbag Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Handbag Market Size and Growth

5.1. Global Handbag Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Handbag Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Handbag Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Handbag Market Segmentation

6.1. Global Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Satchels
Clutches
Tote Bags
Bucket Bags
6.2. Global Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Leather
Fabric
Synthetic
6.3. Global Handbag Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Online
Offline
6.4. Global Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Men Segment
Women Segment

7. Handbag Market Regional And Country Analysis

7.1. Global Handbag Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Handbag Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Handbag Market

8.1. Asia-Pacific Handbag Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Handbag Market

9.1. China Handbag Market Overview
9.2. China Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Handbag Market

10.1. India Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Handbag Market

11.1. Japan Handbag Market Overview
11.2. Japan Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Handbag Market

12.1. Australia Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Handbag Market

13.1. Indonesia Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Handbag Market

14.1. South Korea Handbag Market Overview
14.2. South Korea Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Handbag Market

15.1. Western Europe Handbag Market Overview
15.2. Western Europe Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Handbag Market

16.1. UK Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Handbag Market

17.1. Germany Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Handbag Market

18.1. France Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Handbag Market

19.1. Italy Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Handbag Market

20.1. Spain Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Handbag Market

21.1. Eastern Europe Handbag Market Overview
21.2. Eastern Europe Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Handbag Market

22.1. Russia Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Handbag Market

23.1. North America Handbag Market Overview
23.2. North America Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Handbag Market

24.1. USA Handbag Market Overview
24.2. USA Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Handbag Market

25.1. Canada Handbag Market Overview
25.2. Canada Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Handbag Market

26.1. South America Handbag Market Overview
26.2. South America Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Handbag Market

27.1. Brazil Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Handbag Market

28.1. Middle East Handbag Market Overview
28.2. Middle East Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Handbag Market

29.1. Africa Handbag Market Overview
29.2. Africa Handbag Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Handbag Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Handbag Market, Segmentation By End User Analysis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Handbag Market Competitive Landscape And Company Profiles

30.1. Handbag Market Competitive Landscape
30.2. Handbag Market Company Profiles
- 30.2.1. VIP Industries Ltd.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Louis Vuitton Malletier
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. H and M Hennes and Mauritz GBC AB
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Chanel Ltd.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Hermes International S.A
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Handbag Market Other Major And Innovative Companies

31.1. Fendi
31.2. Guccio Gucci S.p.A
31.3. Coach IP Holdings LLC
31.4. Tapestry, Inc.
31.5. Victorias Secret and Co
31.6. Prada S.p.A
31.7. Michael Kors
31.8. Burberry
31.9. Calvin Klein Inc.
31.10. ALDO Group Inc.
31.11. Fossil Group Inc.
31.12. Kate Spade
31.13. Zouk
31.14. Ted Baker
31.15. Loewe (LVMH)

32. Global Handbag Market Competitive Benchmarking

33. Global Handbag Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Handbag Market

35. Handbag Market Future Outlook and Potential Analysis

35.1 Handbag Market In 2028 - Countries Offering Most New Opportunities
35.2 Handbag Market In 2028 - Segments Offering Most New Opportunities
35.3 Handbag Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer