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Handbags Market - Growth, Trends and Forecasts (2020 - 2025)

  • ID: 4622535
  • Report
  • April 2020
  • Region: Global
  • 110 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Burberry Group PLC
  • Capri Holdings Limited
  • Chanel International BV
  • Christian Dior SE
  • Kate Spade & Company
  • Kering Holland NV
  • MORE
Global handbags market is forecasted to grow at a CAGR of 4.5% during the forecast period (2019 - 2024).

The handbags market are driven by the rising fashion industry, with handbags playing as a major fashion statement. Also, the increasing social media influence on the consumers from Instagram and Twitter is responsible for the inclination of potential consumers toward the market. Since the majority of the global young adult population is engaged in these social media platforms, handbag companies are targeting their product range at this age group.

Some of the major players of the market are Christian Dior SE, Louis Vuitton SE, and Prada Holding BV, which are dominating the handbags market.

Key Market Trends

Growing Demand For Leather Goods

Leather is one of the most widely traded commodities in the world. This is due to a continuous demand from the fashion industry driven by footwear, luggage bags, and accessories such as handbags. Leather is one of the most widely traded commodities in the world. This is due to a continuous demand from the fashion industry driven by footwear, luggage bags, and accessories such as handbags. Europe witnessed a rise in 3.5% of imports of leather handbags from 2012 to 2016. This is due to the increase in the production of light leather for handbags and its imports from Asian countries such as China, India, and Vietnam. Major importing countries of leather for handbags are the United States and Japan. However, hit by high import tariff rates of leather from China in 2018, India has become one of those opportunistic markets for imports of leather handbags for major companies from the United States and Europe.

India is Projected to Record Significant Growth in Handbags Market

Indian consumers are increasingly becoming brand conscious about their consumption choices, especially those that reflect their style and personality. Hence, the handbags segment in India has witnessed an evolution in the recent past. The fashion accessories segment has gone from being a mere necessity purchase to gaining a foothold in the lifestyle shopping category. An increase in the growth of e-commerce, with the facilities of online shopping, is also expected to contribute significantly to the growth of the retail market, in the coming few years. The market that had only a few national brands, such as Hidesign, Da Milano, and Baggit, is now flooded with exclusive domestic brands and international players, including Louis Vuitton, Bagzone, Caprese, and many more. Increased access to online shopping sites, such as Flipkart and Amazon, provide considerable discounts and promotional offers.

Competitive Landscape

The market studied is highly competitive, with a considerable number of regional and global players. The major strategies adopted by these companies include product innovations, expansions, and mergers and acquisitions. The major players dominating the global handbags market are Coach, Kate Spade, LVMH, Michael Kors, Ted Baker, Baggit, Hidesign, Fossil, and Gucci. An advanced distribution network provides a competitive advantage to the key market players. Moreover, it is crucial for players to continuously innovate, in order to operate and grow in the market, due to the rapidly changing consumer demands and preferences.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Burberry Group PLC
  • Capri Holdings Limited
  • Chanel International BV
  • Christian Dior SE
  • Kate Spade & Company
  • Kering Holland NV
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Satchel
5.1.2 Bucket Bag
5.1.3 Clutch
5.1.4 Tote Bag
5.1.5 Others
5.2 By Distribution Channel
5.2.1 Online Retail Stores
5.2.2 Offline Retail Stores
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Spain
5.3.2.6 Italy
5.3.2.7 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of the Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of the Middle East & Africa

6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Christian Dior SE
6.4.2 Burberry Group PLC
6.4.3 LVMH
6.4.4 Prada Holding BV
6.4.5 Kering Holland NV
6.4.6 Capri Holdings Limited
6.4.7 Chanel International BV
6.4.8 Kate Spade & Company

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • Christian Dior SE
  • Burberry Group PLC
  • LVMH
  • Prada Holding BV
  • Kering Holland NV
  • Capri Holdings Limited
  • Chanel International BV
  • Kate Spade & Company
Note: Product cover images may vary from those shown
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