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Handbag Market Report by Product Type (Satchel, Bucket Bag, Clutch, Tote Bag, and Others), Material Type (Leather, Fabric, Rubber, and Others), Distribution Channel (Supermarkets and Hypermarkets, Departmental Stores, Specialty Stores, Discount Stores, Online Stores, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112023A2071
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Market Overview:
The global handbag market size reached US$ 40.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 67.3 Billion by 2032, exhibiting a growth rate (CAGR) of 5.7% during 2024-2032.
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Report Attribute
|
Key Statistics
|
|---|---|
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Base Year
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2023
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|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 40.9 Billion |
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Market Forecast in 2032
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US$ 67.3 Billion |
| Market Growth Rate 2024-2032 | 5.7% |
A handbag can be described as a fashion accessory that is used, primarily by women, to hold essential personal utility products. Available in a wide variety of sizes, patterns and colors, handbags are usually manufactured by stitching multiple pieces of cloth or leather together. Shoulder, satchel, handheld and sling bags are the most common types of handbags available in the market. Nowadays, gender-neutral bags are also being widely preferred by consumers of all age groups.
The growing fashion accessories industry, along with an increasing working population across the globe and rapid urbanization, represent as the key factors driving the market growth. Furthermore, a significant rise in the female workforce participation rate in both the developed and emerging economies has contributed to the product demand. Also, majority of the working professionals prefer carrying multiple essential items, such as laptops, tablets, wallets and edibles, in their handbags. This has led manufacturers to develop handbags which are highly functional, and equipped with laptop sleeves, key and mobile holders. Additionally, the proliferation of online retailing portals that provide hassle-free shopping experience while offering a wide range of products is also contributing to the market growth. Visually appealing and creatively designed products, along with their eco-friendly variants, are further creating a positive outlook for the market. Product premiumization and aggressive promotional activities by manufacturers and brands, along with the rising consumer expenditure on maintaining an aesthetic and materialistically sophisticated lifestyle, are projected to drive the market in the coming years.
IMARC Group’s latest report provides a deep insight into the global handbag market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the handbag industry in any manner.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global handbag market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product type, material type and distribution channel.
Breakup by Product Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Satchel
- Bucket Bag
- Clutch
- Tote Bag
- Others
Breakup by Material Type:
- Leather
- Fabric
- Rubber
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Departmental Stores
- Specialty Stores
- Discount Stores
- Online Stores
- Others
Breakup by Region:
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- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Burberry Group, Chanel International BV, Christian Dior SE, Coach, Etienne Aigner, Furla, Kate Spade & Company, Hermès International, LVMH, Michael Kors, Mulberry, Nicole Lee, Prada Holding BV, etc.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Product Type, Material Type, Distribution Channel, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Burberry Group, Chanel International BV, Christian Dior SE, Coach, Etienne Aigner, Furla, Kate Spade & Company, Hermès International, LVMH, Michael Kors, Mulberry, Nicole Lee and Prada Holding BV |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
We expect the global handbag market to exhibit a CAGR of 5.7% during 2024-2032.
The growing demand of luxury handbags with exclusive designs, enhanced functionality, and superior product quality, is primarily driving the global handbag market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of handbags.
Based on the product type, the global handbag market can be categorized into satchel, bucket bag, clutch, tote bag, and others. Among these, tote bag exhibits a clear dominance in the market.
Based on the material type, the global handbag market has been segmented into leather, fabric, rubber and others. Currently, leather represents the largest market share.
Based on the distribution channel, the global handbag market can be bifurcated into supermarkets and hypermarkets, departmental stores, specialty stores, discount stores, online stores and others. Among these, supermarkets and hypermarkets currently account for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa and Latin America, where North America currently dominates the global market.
Some of the major players in the global handbag market include Burberry Group, Chanel International BV, Christian Dior SE, Coach, Etienne Aigner, Furla, Kate Spade & Company, Hermès International, LVMH, Michael Kors, Mulberry, Nicole Lee, Prada Holding BV, etc.
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