Handbag market size to grow by USD 14,110.72 million from 2022 to 2027, Burberry Group Plc and CHANEL Ltd. emerge as key contributors to growth – Technavio

Handbag market size to grow by USD 14,110.72 million from 2022 to 2027, Burberry Group Plc and CHANEL Ltd. emerge as key contributors to growth – Technavio

NEW YORK, April 18, 2023 /PRNewswire/ — The handbag market size is set to grow by USD 14,110.72 million from 2022 to 2027 and register a CAGR of 4.3%, according to Technavio’s latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by the way of synthesis and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Get a comprehensive report summary describing the market size and forecast along with research methodology. Read a Sample Report

The report also covers the following areas:

Handbag Market 2023-2027: Segmentation

  • Type 
    • Leather
    • Fabric
    • Others
  • Distribution channel 
    • Offline
    • Online
  • Geography 
    • APAC
    • North America
    • Europe
    • South America
    • Middle East and Africa

The market share growth by the leather segment will be significant for the market growth during the forecast period. Handbags are made up of different types of leather, including tanned leather from exotic animals to make leather goods such as leather handbags. The demand for leather handbags with different textures, quality, and feel has increased over the last few years. These factors will drive the growth of this segment during the forecast period. 

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Handbag Market 2023-2027: Vendor Analysis and Scope

Some of the major vendors of the handbag market include Burberry Group Plc, CHANEL Ltd., Compagnie Financiere Richemont SA, Deeya International, Dolce and Gabbana S.r.l, Fossil Group Inc., Hermes International SA, Kering SA, Macys Inc., MCM Products USA Inc., Michael Kors Switzerland GmbH, Nath Brothers Exim International Ltd., Prada S.p.A, PVH Corp., Samsonite International SA, Tapestry Inc., Ted Baker PLC, The LVMH group, Tory Burch LLC, and VALENTINO Spa. To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 15+ vendors operating in the market. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the handbag market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

Vendor Offerings

  • Burberry Group Plc – The company offers handbags such as Lola bags, tote bags, and cross-body hang bags.
  • CHANEL Ltd. – The company offers handbags such as Classic, 2.55 handbags, and 22 bags.
  • Dolce and Gabbana S.r.l – The company offers handbags such as Sicily Medium bags, PVC Sicily bags, and Sicily small bags.

The handbag market is fragmented, and the degree of fragmentation will accelerate. The personalization and customization of luxury handbags will offer immense growth opportunities. However, fluctuating operational costs, including labor, logistics, and raw material costs, will hamper the market growth.

Handbag Market 2023-2027: Market Dynamics

Key Drivers

  • A key driving factor for the handbag market during the forecast period is the personalization and customization of luxury handbags.
  • Over the past five years, handbag customization and personalization have emerged as a new trend, particularly in Western Europe and North America. In developing economies such as India and China, the demand for luxury products such as luxury tote bags has increased.
  • In order to improve product aesthetics, major market players in the luxury segment are offering customized and personalized products.
  • The strap and buckles, embroidery, and inclusion of a name tag are all examples of personalization and customization options.
  • As customers can personalize their handbags, customization costs more than standard products.
  • In addition, the market’s expansion is supported by an increase in the customization and personalization of handbags worldwide due to the high cost of bags and new purchases.

Major Trends

  • An emerging trend in the handbag market is the increased demand at airport retail stores during the forecast period.
  • Generally, travelers prefer to shop at airport duty-free shops for high-end and luxury items such as handbags.
  • The majority of major airports are being renovated to support large dedicated areas for retail outlets and shopping malls because of the growing popularity of airport retail.
  • The growth of the market is also aided by other factors such as arriving two hours early to check in, flight delays, and last-minute shopping.
  • In India’s domestic and international terminals, numerous national and international brands, such as VIP’s TUMI and the Samsonite brand, have retail outlets.
  • Hence, the increasing number of retail outlets at airports is expected to boost the growth of the global handbag market during the forecast period.

Key Challenges

  • A major challenge that may hamper the growth of the handbag market during the forecast period is stringent government regulations.
  • In the handbag industry, leather is one of the most frequently used raw materials. However, strict government regulations govern the leather industry in some nations.
  • Numerous associations and government departments in Europe, particularly in Germany, enforce stringent regulations on the leather industry.
  • Those functioning in the tanning business should consent to different guidelines with respect to calfskin creation, synthetic use, and reusing.
  • Measures to reduce waste and protect the environment account for nearly 5% of manufacturers’ total operating costs.
  • Hence, government regulations and restrictions are expected to increase the costs borne by vendors and hinder production processes, which may impede the growth of the market during the forecast period.

In addition to the forecast, the report also highlights the key opportunities by analyzing drivers, trends, challenges for the market, buy now!

Handbag Market 2023-2027: Key Highlights

  • CAGR of the market during the forecast period 2023-2027
  • Detailed information on factors that will assist handbag market growth during the next five years
  • Estimation of the handbag market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the handbag market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of handbag market vendors

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Handbag Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 4.3%

Market growth 2023-2027

USD 14,110.72 million

Market structure

Fragmented

YoY growth 2022-2023(%)

3.61

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 44%

Key countries

US, China, Germany, UK, and France

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Burberry Group Plc, CHANEL Ltd., Compagnie Financiere Richemont SA, Deeya International, Dolce and Gabbana S.r.l, Fossil Group Inc., Hermes International SA, Kering SA, Macys Inc., MCM Products USA Inc., Michael Kors Switzerland GmbH, Nath Brothers Exim International Ltd., Prada S.p.A, PVH Corp., Samsonite International SA, Tapestry Inc., Ted Baker PLC, The LVMH group, Tory Burch LLC, and VALENTINO Spa

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of Contents : 

1 Executive Summary

  • 1.1 Market overview 
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem 
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition 
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 13: Market segments
  • 3.3 Market size 2022 
  • 3.4 Market outlook: Forecast for 2022-2027
    • Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
    • Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
    • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
    • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

  • 4.1 Global handbag market 2017 – 2021 
    • Exhibit 18: Historic Market Size – Data Table on Global handbag market 2017 – 2021 ($ million)
  • 4.2 Type Segment Analysis 2017 – 2021 
    • Exhibit 19: Historic Market Size – Type Segment 2017 – 2021 ($ million)
  • 4.3 Distribution channel Segment Analysis 2017 – 2021
    • Exhibit 20: Historic Market Size – Distribution channel Segment 2017 – 2021 ($ million)
  • 4.4 Geography Segment Analysis 2017 – 2021
    • Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
  • 4.5 Country Segment Analysis 2017 – 2021
    • Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

  • 5.1 Five forces summary 
    • Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
  • 5.2 Bargaining power of buyers 
    • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
  • 5.3 Bargaining power of suppliers 
    • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
  • 5.4 Threat of new entrants 
    • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
  • 5.5 Threat of substitutes 
    • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
  • 5.6 Threat of rivalry 
    • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
  • 5.7 Market condition 
    • Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Type

  • 6.1 Market segments 
    • Exhibit 30: Chart on Type – Market share 2022-2027 (%)
    • Exhibit 31: Data Table on Type – Market share 2022-2027 (%)
  • 6.2 Comparison by Type 
    • Exhibit 32: Chart on Comparison by Type
    • Exhibit 33: Data Table on Comparison by Type
  • 6.3 Leather – Market size and forecast 2022-2027
    • Exhibit 34: Chart on Leather – Market size and forecast 2022-2027 ($ million)
    • Exhibit 35: Data Table on Leather – Market size and forecast 2022-2027 ($ million)
    • Exhibit 36: Chart on Leather – Year-over-year growth 2022-2027 (%)
    • Exhibit 37: Data Table on Leather – Year-over-year growth 2022-2027 (%)
  • 6.4 Fabric and others – Market size and forecast 2022-2027 
    • Exhibit 38: Chart on Fabric and others – Market size and forecast 2022-2027 ($ million)
    • Exhibit 39: Data Table on Fabric and others – Market size and forecast 2022-2027 ($ million)
    • Exhibit 40: Chart on Fabric and others – Year-over-year growth 2022-2027 (%)
    • Exhibit 41: Data Table on Fabric and others – Year-over-year growth 2022-2027 (%)
  • 6.5 Market opportunity by Type 
    • Exhibit 42: Market opportunity by Type ($ million)
    • Exhibit 43: Data Table on Market opportunity by Type ($ million)

7 Market Segmentation by Distribution Channel

  • 7.1 Market segments 
    • Exhibit 44: Chart on Distribution Channel – Market share 2022-2027 (%)
    • Exhibit 45: Data Table on Distribution Channel – Market share 2022-2027 (%)
  • 7.2 Comparison by Distribution Channel 
    • Exhibit 46: Chart on Comparison by Distribution Channel
    • Exhibit 47: Data Table on Comparison by Distribution Channel
  • 7.3 Offline – Market size and forecast 2022-2027
    • Exhibit 48: Chart on Offline – Market size and forecast 2022-2027 ($ million)
    • Exhibit 49: Data Table on Offline – Market size and forecast 2022-2027 ($ million)
    • Exhibit 50: Chart on Offline – Year-over-year growth 2022-2027 (%)
    • Exhibit 51: Data Table on Offline – Year-over-year growth 2022-2027 (%)
  • 7.4 Online – Market size and forecast 2022-2027
    • Exhibit 52: Chart on Online – Market size and forecast 2022-2027 ($ million)
    • Exhibit 53: Data Table on Online – Market size and forecast 2022-2027 ($ million)
    • Exhibit 54: Chart on Online – Year-over-year growth 2022-2027 (%)
    • Exhibit 55: Data Table on Online – Year-over-year growth 2022-2027 (%)
  • 7.5 Market opportunity by Distribution Channel
    • Exhibit 56: Market opportunity by Distribution Channel ($ million)
    • Exhibit 57: Data Table on Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

  • 8.1 Customer landscape overview 
    • Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation 
    • Exhibit 59: Chart on Market share by geography 2022-2027 (%)
    • Exhibit 60: Data Table on Market share by geography 2022-2027 (%)
  • 9.2 Geographic comparison 
    • Exhibit 61: Chart on Geographic comparison
    • Exhibit 62: Data Table on Geographic comparison
  • 9.3 APAC – Market size and forecast 2022-2027
    • Exhibit 63: Chart on APAC – Market size and forecast 2022-2027 ($ million)
    • Exhibit 64: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
    • Exhibit 65: Chart on APAC – Year-over-year growth 2022-2027 (%)
    • Exhibit 66: Data Table on APAC – Year-over-year growth 2022-2027 (%)
  • 9.4 North America – Market size and forecast 2022-2027
    • Exhibit 67: Chart on North America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 68: Data Table on North America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 69: Chart on North America – Year-over-year growth 2022-2027 (%)
    • Exhibit 70: Data Table on North America – Year-over-year growth 2022-2027 (%)
  • 9.5 Europe – Market size and forecast 2022-2027
    • Exhibit 71: Chart on Europe – Market size and forecast 2022-2027 ($ million)
    • Exhibit 72: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
    • Exhibit 73: Chart on Europe – Year-over-year growth 2022-2027 (%)
    • Exhibit 74: Data Table on Europe – Year-over-year growth 2022-2027 (%)
  • 9.6 South America – Market size and forecast 2022-2027
    • Exhibit 75: Chart on South America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 76: Data Table on South America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 77: Chart on South America – Year-over-year growth 2022-2027 (%)
    • Exhibit 78: Data Table on South America – Year-over-year growth 2022-2027 (%)
  • 9.7 Middle East and Africa – Market size and forecast 2022-2027 
    • Exhibit 79: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
    • Exhibit 80: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
    • Exhibit 81: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
    • Exhibit 82: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
  • 9.8 US – Market size and forecast 2022-2027
    • Exhibit 83: Chart on US – Market size and forecast 2022-2027 ($ million)
    • Exhibit 84: Data Table on US – Market size and forecast 2022-2027 ($ million)
    • Exhibit 85: Chart on US – Year-over-year growth 2022-2027 (%)
    • Exhibit 86: Data Table on US – Year-over-year growth 2022-2027 (%)
  • 9.9 China – Market size and forecast 2022-2027
    • Exhibit 87: Chart on China – Market size and forecast 2022-2027 ($ million)
    • Exhibit 88: Data Table on China – Market size and forecast 2022-2027 ($ million)
    • Exhibit 89: Chart on China – Year-over-year growth 2022-2027 (%)
    • Exhibit 90: Data Table on China – Year-over-year growth 2022-2027 (%)
  • 9.10 Germany – Market size and forecast 2022-2027
    • Exhibit 91: Chart on Germany – Market size and forecast 2022-2027 ($ million)
    • Exhibit 92: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
    • Exhibit 93: Chart on Germany – Year-over-year growth 2022-2027 (%)
    • Exhibit 94: Data Table on Germany – Year-over-year growth 2022-2027 (%)
  • 9.11 UK – Market size and forecast 2022-2027
    • Exhibit 95: Chart on UK – Market size and forecast 2022-2027 ($ million)
    • Exhibit 96: Data Table on UK – Market size and forecast 2022-2027 ($ million)
    • Exhibit 97: Chart on UK – Year-over-year growth 2022-2027 (%)
    • Exhibit 98: Data Table on UK – Year-over-year growth 2022-2027 (%)
  • 9.12 France – Market size and forecast 2022-2027
    • Exhibit 99: Chart on France – Market size and forecast 2022-2027 ($ million)
    • Exhibit 100: Data Table on France – Market size and forecast 2022-2027 ($ million)
    • Exhibit 101: Chart on France – Year-over-year growth 2022-2027 (%)
    • Exhibit 102: Data Table on France – Year-over-year growth 2022-2027 (%)
  • 9.13 Market opportunity by geography 
    • Exhibit 103: Market opportunity by geography ($ million)
    • Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers 
  • 10.2 Market challenges 
  • 10.3 Impact of drivers and challenges 
    • Exhibit 105: Impact of drivers and challenges in 2022 and 2027
  • 10.4 Market trends 

11 Vendor Landscape

  • 11.1 Overview 
  • 11.2 Vendor landscape 
    • Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption 
    • Exhibit 107: Overview on factors of disruption
  • 11.4 Industry risks 
    • Exhibit 108: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered 
    • Exhibit 109: Vendors covered
  • 12.2 Market positioning of vendors 
    • Exhibit 110: Matrix on vendor position and classification
  • 12.3 Burberry Group Plc 
    • Exhibit 111: Burberry Group Plc – Overview
    • Exhibit 112: Burberry Group Plc – Business segments
    • Exhibit 113: Burberry Group Plc – Key offerings
    • Exhibit 114: Burberry Group Plc – Segment focus
  • 12.4 CHANEL Ltd. 
    • Exhibit 115: CHANEL Ltd. – Overview
    • Exhibit 116: CHANEL Ltd. – Business segments
    • Exhibit 117: CHANEL Ltd. – Key offerings
    • Exhibit 118: CHANEL Ltd. – Segment focus
  • 12.5 Dolce and Gabbana S.r.l 
    • Exhibit 119: Dolce and Gabbana S.r.l – Overview
    • Exhibit 120: Dolce and Gabbana S.r.l – Product / Service
    • Exhibit 121: Dolce and Gabbana S.r.l – Key offerings
  • 12.6 Fossil Group Inc. 
    • Exhibit 122: Fossil Group Inc. – Overview
    • Exhibit 123: Fossil Group Inc. – Business segments
    • Exhibit 124: Fossil Group Inc. – Key offerings
    • Exhibit 125: Fossil Group Inc. – Segment focus
  • 12.7 Hermes International SA 
    • Exhibit 126: Hermes International SA – Overview
    • Exhibit 127: Hermes International SA – Business segments
    • Exhibit 128: Hermes International SA – Key offerings
    • Exhibit 129: Hermes International SA – Segment focus
  • 12.8 Kering SA 
    • Exhibit 130: Kering SA – Overview
    • Exhibit 131: Kering SA – Business segments
    • Exhibit 132: Kering SA – Key offerings
    • Exhibit 133: Kering SA – Segment focus
  • 12.9 Macys Inc. 
    • Exhibit 134: Macys Inc. – Overview
    • Exhibit 135: Macys Inc. – Product / Service
    • Exhibit 136: Macys Inc. – Key offerings
  • 12.10 MCM Products USA Inc. 
    • Exhibit 137: MCM Products USA Inc. – Overview
    • Exhibit 138: MCM Products USA Inc. – Product / Service
    • Exhibit 139: MCM Products USA Inc. – Key offerings
  • 12.11 Michael Kors Switzerland GmbH 
    • Exhibit 140: Michael Kors Switzerland GmbH – Overview
    • Exhibit 141: Michael Kors Switzerland GmbH – Product / Service
    • Exhibit 142: Michael Kors Switzerland GmbH – Key offerings
  • 12.12 Prada S.p.A 
    • Exhibit 143: Prada S.p.A – Overview
    • Exhibit 144: Prada S.p.A – Product / Service
    • Exhibit 145: Prada S.p.A – Key offerings
  • 12.13 PVH Corp. 
    • Exhibit 146: PVH Corp. – Overview
    • Exhibit 147: PVH Corp. – Business segments
    • Exhibit 148: PVH Corp. – Key offerings
    • Exhibit 149: PVH Corp. – Segment focus
  • 12.14 Tapestry Inc. 
    • Exhibit 150: Tapestry Inc. – Overview
    • Exhibit 151: Tapestry Inc. – Business segments
    • Exhibit 152: Tapestry Inc. – Key offerings
    • Exhibit 153: Tapestry Inc. – Segment focus
  • 12.15 Ted Baker PLC 
    • Exhibit 154: Ted Baker PLC – Overview
    • Exhibit 155: Ted Baker PLC – Business segments
    • Exhibit 156: Ted Baker PLC – Key offerings
    • Exhibit 157: Ted Baker PLC – Segment focus
  • 12.16 The LVMH group 
    • Exhibit 158: The LVMH group – Overview
    • Exhibit 159: The LVMH group – Business segments
    • Exhibit 160: The LVMH group – Key offerings
    • Exhibit 161: The LVMH group – Segment focus
  • 12.17 VALENTINO Spa 
    • Exhibit 162: VALENTINO Spa – Overview
    • Exhibit 163: VALENTINO Spa – Product / Service
    • Exhibit 164: VALENTINO Spa – Key offerings

13 Appendix

  • 13.1 Scope of the report 
  • 13.2 Inclusions and exclusions checklist
    • Exhibit 165: Inclusions checklist
    • Exhibit 166: Exclusions checklist
  • 13.3 Currency conversion rates for US$ 
    • Exhibit 167: Currency conversion rates for US$
  • 13.4 Research methodology 
    • Exhibit 168: Research methodology
    • Exhibit 169: Validation techniques employed for market sizing
    • Exhibit 170: Information sources
  • 13.5 List of abbreviations 
    • Exhibit 171: List of abbreviations

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Originally published at https://www.prnewswire.com/news-releases/handbag-market-size-to-grow-by-usd-14-110-72-million-from-2022-to-2027–burberry-group-plc-and-chanel-ltd-emerge-as-key-contributors-to-growth—technavio-301799379.html
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