According to the latest report by IMARC Group, titled “Satchel and Saddle Bags Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global satchel and saddle bags market reached a value of US$ 367.1 Million in 2021. Satchel and saddle bags are flexible and fashionably designed clothing gear for carrying personal items. They are manufactured using lightweight and durable materials, such as leather, polyester, fabrics, cloth, cotton, nylon, and canvas. Satchel and saddle bags are widely carried during daily routine activities, motorcycling, biking, horse riding, trekking, and mountaineering. They are used for storing cellphones, wallets, cameras, water bottles, lunch, tools, books, laptops, and first aid kits. Satchel and saddle bags offer comfort, durability, style, and water resistance and are commercially available in various sizes and load-carrying capacities. They are also stylish and versatile and can be worn over one shoulder with a strap or used as handbags.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Satchel and Saddle Bags Market Trends:
The significant growth in the fashion industry and changing aesthetic trends across the globe are creating a positive outlook for the market. Moreover, the rising consumer inclination towards quality and stylish satchel and saddle bags with advanced fabrications, along with the increasing popularity of high-end fashion as a status symbol, is acting as another growth-inducing factor. Additionally, the rising product demand among the growing working women population to keep up with ever-changing fashion trends is favoring the market growth. Apart from this, the increasing demand for premiumization and customization for superior quality design and personalized information, such as name, photo, initials, or signature, on satchel and saddle bags is providing a considerable boost to the market growth. In line with this, the introduction of sustainable and eco-friendly product variants manufactured from recycled materials, natural cork, hemp, and vegetable leather is facilitating the market growth. Furthermore, manufacturers are introducing new prints and patterns to expand their existing consumer base, which, in turn, is positively influencing the market growth. Other factors, including aggressive promotional activities by manufacturers, increasing expenditure capacities of consumers, and easy product availability across various e-commerce platforms, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 476.5 Million by 2027, exhibiting a CAGR of 4.5% during 2022-2027.
- On the basis of the product type, the market has been divided into satchel and saddle bags.
- Based on the gender, the market has been bifurcated into male and female.
- On the basis of the material, the market has been classified into leather, fabrics, and others.
- Based on the distribution channel, the market has been divided into departmental stores, specialty stores, online stores, supermarkets and hypermarkets, discount stores, and others.
- On a regional basis, the market has been categorized into Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America.
- The competitive landscape of the industry has also been examined, with some of the key players being Coach, IP Holdings LLC, Chanel, Inc., Burberry Group Plc, Nicole Lee Estore, Etienne Aigner AG, Furla S.p.A., Kate Spade Holdings LLC, Hermès International Company, Michael Kors Holdings Limited, LVMH Moët Hennessy – Louis Vuitton SE and Mulberry Group Plc.
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