Demand for global handbag manufacturers has decreased throughout 2023, as uncertain macroeconomic conditions have caused demand for industry goods to fall. For instance, since the industry's products are considered discretionary goods, consumers will likely be more reluctant to purchase goods during periods of economic uncertainty. Overall, industry revenue has been declining at a CAGR of 2.3% over the past five years, and is expected to total $161.6 billion in 2023, when revenue will rise an estimated 0.9%. As a result of the pandemic, the prices of many key raw materials have increased, subsequently causing industry profit to decrease.
Operators in the Global Handbag and Purse Manufacturing industry manufacture handbags and handbag accessories, such as purses, wallets, tassels and other articles typically carried in a pocket or handbag. The industry also includes operators that produce luggage and other travel bags, and a variety of smaller-sized leather containers.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
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