NEW YORK, Nov. 30, 2023 /PRNewswire/ — The handbags market in UK is estimated to grow by USD 612.15 million from 2023 to 2028, growing at a CAGR of 3.96%. The handbags market in UK is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer handbags market in UK are ALDO Group Inc., Aspinal of London Ltd., Bugatti GmbH, Burberry Group Plc, Chanel Ltd., Crew Clothing Co. Ltd., Dolce and Gabbana SRL, Fossil Group Inc., GOYARD ST HONORE, Guess Inc., Hermes International SA, Kering SA, LAUNER LONDON LTD., Michael Kors Switzerland GmbH, MPLG Ltd., Mulberry Group Plc, Prada S.p.A, Radley and Co Ltd., The Cambridge Satchel Co. Ltd, and The Hettie Trading Company Ltd. The report provides a full list of key companies, their strategies, and the latest developments. Download a Free Sample before buying
- ALDO Group Inc. – The company offers handbags such as ameyaax women white cross body, balkiix women white satchel, landenassi women black top handle, and nanadi women pink satchel.
- Aspinal of London Ltd. – The company offers handbags such as midi London tote ivory woven leather, black woven leather, navy and ivory woven leather.
- Burberry Group Plc – The company offers handbags such as check mini bowling bags, check medium bowling bags, check totes, and medium London tote bags.
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- Impactful driver- Expansion of retail and online distribution landscape in the UK
- Key Trend – Personalization, customization, and innovation in handbags
The design and material innovation leading to product premiumization is an emerging market trend. Various market players constantly reform and introduce new designs and patterns to cater to the growing competition and customer demand arising from rapid changes in the fashion industry. To meet evolving customer needs, who seek luxury handbags for formal and casual purposes, vendors regularly expand their product lines.
- Major Challenges – Long product replacement cycles for handbags
- The tote segment will contribute the largest share of the market. Large handbags that have two parallel straps or handles, which are hung from the shoulder are called tote bags. They are preferably used for shopping purposes. The Van Gogh Handbag and Vintage Oleg Cassini Large handbag are some of the featured tote bags offered by Tapestry to its customers across the UK. Furthermore, fashion-conscious customers usually look for unique styles, designs, and colors in tote bags. They provide an aesthetic appeal along with a modern look.
Technavio Research experts have provided more insights on the market share of segments – View a Free Sample Report
India – Handbags Market size is estimated to grow at a CAGR of 7.15% between 2022 and 2027. The market size is forecast to increase by USD 1,416.61 million.
The handbags market in Japan is projected to grow by USD 801.39 billion with a CAGR of 6.48% during the forecast period 2021 to 2026.
Handbags Market Scope in UK
Growth momentum & CAGR
Accelerate at a CAGR of 3.96%
YoY growth 2022-2023 (%)
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
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