Handbags market size in India to grow by USD 207.51 million from 2021 to 2026; BAGGIT, Da Milano Leathers Pvt. Ltd., among others, emerge as key vendors – Technavio

Handbags market size in India to grow by USD 207.51 million from 2021 to 2026; BAGGIT, Da Milano Leathers Pvt. Ltd., among others, emerge as key vendors – Technavio

NEW YORK, April 7, 2023 /PRNewswire/ — The handbags market in India is set to grow by USD 207.51 million between 2021 and 2026. The growth momentum will accelerate at a CAGR of 4.90% during the forecast period. 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. Technavio offers in-depth market insights that assist businesses to obtain growth opportunities. Read a Sample Report

Handbags Market in India 2022-2026: Segmentation

  • Product 
    • Clutches and wallets
    • Shoulder bags
    • Satchels and saddles
    • Totes

The market growth in the clutches and wallets segment will be significant during the forecast period. Many vendors are currently promoting tote bags as laptop bags, sports bags, and travel bags. Fashion designers are introducing the latest trending designs to develop a wide variety of tote bags. In addition, factors such as the increasing demand among the working population, growing demand for tote travel bags at airport retail outlets, rising preference for affordable luxury tote bags, and the increasing availability of personalized and customized tote bags are driving the growth of the segment.

  • Distribution channel 
    • Offline
    • Online

Offline distribution channels account for the maximum revenue generation in the market. The segment comprises convenience stores, hypermarkets and supermarkets, and factory outlets. These stores provide a vast assortment of products under a single roof. This allows customers to physically examine the products before examining them. In addition, discounts and an enhanced shopping experience offered by these stores will drive the growth of the segment.

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Handbags Market in India 2022-2026: Vendor Analysis and Scope

The handbags market in India is fragmented due to the presence of several global and regional vendors. Global vendors have established a strong foothold across the country. They focus on developing innovative and unique offerings in terms of design, quality, and specifications to cater to the demand for handbags in India. Prominent vendors are focused on establishing a strong customer base in the country by providing a wide variety of products. This will help them remain competitive and gain significant market revenue.

Backed with competitive intelligence and benchmarking, our research report on the handbags market is designed to provide entry support, customer profile, & M&As as well as go-to-market strategy support. Some of the key vendors covered in the report include:

  • Baggit – The company offers handbags such as tote bags.
  • Capri Holdings Ltd. – The company offers handbags such as sling bags.
  • Lavie – The company offers handbags such as satchels.
  • LVMH Moet Hennessy – Louis Vuitton – The company offers handbags such as tote bags.
  • Da Milano Leathers Pvt. Ltd.
  • H & M Hennes & Mauritz AB
  • Hidesign
  • Kering SA
  • The House of Tara
  • VIP Industries Ltd.

The report also covers the following areas:

Handbags Market in India 2022-2026: Market Dynamics

  • Driver – The market is driven by the expansion of the retail and online distribution landscape. The growing consumer demand for handbags has encouraged vendors to increase their production and distribution across India. With changing consumer preferences, vendors are increasing the availability of their products in both offline and online stores. Many online platforms such as Amazon.com, Myntra, AJIO, and others sell a comprehensive range of handbags across the country. In addition to discounts, factors such as ease of purchasing, the availability of home-delivery options, the convenience of choosing from a wide variety of products, and safe payment options have further increased the sales of handbags in India. All these factors are driving the growth of the market.
  • Trend – The personalization and customization of handbags is identified as the key trend in the market. Vendors are providing customization options for a wide range of handbags. They are offering customization in terms of the type of material, such as denim, cotton, canvas, and jute. The product can be further customized with the use of precious stones and handicraft materials. This trend is expected to have a positive impact on the growth of the market during the forecast period.
  • Challenge – The threat of counterfeit products will challenge the growth of the market. The presence of counterfeit products in India has created an uneven competitive scenario in terms of market share erosion and price standardization. The availability of such products has compelled vendors to introduce low-quality products. The growing adoption of e-commerce platforms among consumers has further increased the penetration of counterfeit products in India. This is negatively impacting the sales and revenues of genuine players.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

Handbags Market in India 2022-2026: Key Highlights

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will assist handbags market growth during the next five years
  • Estimation of the handbags market size in India and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the handbags market across India
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of handbags market vendors

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Related Reports:

  • The handbag market size is estimated to grow at a CAGR of 4.3% between 2022 and 2027. The handbag market size is forecasted to increase by USD 14,110.72 million. The market is segmented by type (leather, fabric, and others), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
  • The leather handbags market is estimated to grow at a CAGR of 4.84% between 2022 and 2027. The size of the market is forecasted to increase by USD 8.5 billion. The market is segmented by distribution channel (offline and online), type (shoulder bags, satchel bags, tote bags, and sling bags), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

Handbags Market Scope

Report Coverage

Details

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.90%

Market growth 2022-2026

USD 207.51 million

Market structure

Fragmented

YoY growth 2021-2022 (%)

4.24

Competitive landscape

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

Key companies profiled

BAGGIT, Da Milano Leathers Pvt. Ltd., H and M Hennes and Mauritz GBC AB, Hidesign, Holii, Ladida LLC, Lavie, LVMH Moet Hennessy Louis Vuitton SE, SAPL Industries Pvt. Ltd., and VIP Industries Ltd.

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, and 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.

Browse through Technavio’s Consumer Discretionary Market Reports

Table of contents:

1. Executive Summary 

  1.1  Market Overview 

  Exhibit 01:  Key Finding 1

  Exhibit 02:  Key Finding 2

  Exhibit 03:  Key Finding 5

  Exhibit 04:  Key Finding 6

  Exhibit 05:  Key Finding 7

2. Market Landscape 

  2.1 Market ecosystem 

  Exhibit 06:  Parent market

  Exhibit 07:  Market characteristics

  2.2 Value Chain Analysis 

  Exhibit 08:  Value chain analysis: Apparel, Accessories and Luxury Goods

                1.Inputs  

                2. Inbound logistics  

                3. Operations  

                4. Outbound logistics  

                5. Marketing and sales

                6. Service

                7. Support activities

                8. Innovations

3. Market Sizing 

  3.1 Market definition

  Exhibit 09:  Offerings of vendors included in the market definition

  3.2 Market segment analysis 

  Exhibit 10:  Market segments

  3.3 Market size 2021 

  3.4 Market outlook: Forecast for 2021 – 2026 

  3.4.1 Estimating growth rates for emerging and high-growth markets

  3.4.2 Estimating growth rates for mature markets

  Exhibit 11:  – Market size and forecast 2021 – 2026 ($ million)

  Exhibit 12:  market: Year-over-year growth 2021 – 2026 (%)

  3.5 COVID-19 impact and recovery for the product segment  

4. Five Forces Analysis 

  4.1 Five Forces Summary 

  Exhibit 13:  Five forces analysis 2021 & 2026

  4.2 Bargaining power of buyers 

  Exhibit 14: Bargaining power of the buyer

  4.3 Bargaining power of suppliers 

  Exhibit 15: Bargaining power of the supplier

  4.4 Threat of new entrants 

  Exhibit 16: Threat of new entrants

  4.5 Threat of substitutes 

  Exhibit 17: Threat of substitutes

  4.6 Threat of rivalry 

  Exhibit 18: Threat of rivalry

  4.7 Market condition

  Exhibit 19: Market condition – Five forces 2021

5. Market Segmentation by  Product

  5.1 Market segments

  Exhibit 20:  Product- Market share 2021-2026 (%)

  5.2 Comparison by Product 

  Exhibit 21:  Comparison by Product

  5.3 Totes – Market size and forecast 2021-2026 

  Exhibit 22:  Totes – Market size and forecast 2021-2026 ($ million)

  Exhibit 23:  Totes – Year-over-year growth 2021-2026 (%)

  5.4 Clutchs and wallets – Market size and forecast 2021-2026 

  Exhibit 24:  Clutchs and wallets – Market size and forecast 2021-2026 ($ million)

  Exhibit 25:  Clutchs and wallets – Year-over-year growth 2021-2026 (%)

  5.5 Shoulder bags – Market size and forecast 2021-2026 

  Exhibit 26:  Shoulder bags – Market size and forecast 2021-2026 ($ million)

  Exhibit 27:  Shoulder bags – Year-over-year growth 2021-2026 (%)

  5.6 Satchels and saddles – Market size and forecast 2021-2026 

  Exhibit 28:  Satchels and saddles – Market size and forecast 2021-2026 ($ million)

  Exhibit 29:  Satchels and saddles – Year-over-year growth 2021-2026 (%)

  5.7 Market opportunity by Product 

  Exhibit 30:  Market opportunity by Product

6. Market Segmentation by Distribution channel 

  6.1 Market segments

  Exhibit 31: Distribution channel – Market share 2021-2026 (%)

  6.2 Comparison by Distribution channel 

  Exhibit 32:  Comparison by Distribution channel

  6.3 Offline – Market size and forecast 2021-2026 

  Exhibit 33:  Offline – Market size and forecast 2021-2026 ($ million)

  Exhibit 34:  Offline – Year-over-year growth 2021-2026 (%)

  6.4 Online – Market size and forecast 2021-2026 

  Exhibit 35:  Online – Market size and forecast 2021-2026 ($ million)

  Exhibit 36:  Online – Year-over-year growth 2021-2026 (%)

  6.5 Market opportunity by Distribution channel 

  Exhibit 37:  Market opportunity byDistribution channel

7. Customer landscape 

  Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

  Exhibit 38:  Customer landscape

8. Drivers, Challenges, and Trends 

  8.1 Market Driver 

  8.1.1  Expansion of retail and online distribution landscape

  8.1.2  Rising number of product endorsements by celebrities

  8.1.3  Growing purchase of handbags by millennials and working women

  8.2 Market challenges 

  8.2.1  Threats associated with counterfeit products

  8.2.2  Long product replacement cycles

  8.2.3  Volatility in raw material prices and presence of various local vendors

  Exhibit 39:  Impact of drivers and challenges

  8.3 Market trends 

  8.3.1  Personalization and customization of handbags 

  8.3.2  Increasing demand for eco-friendly and sustainable handbags

  8.3.3  Business strategies

9. Vendor Landscape 

  9.1 Overview

  Exhibit 40:  Vendor landscape

  9.2 Landscape disruption 

  Exhibit 41:  Landscape disruption

  Exhibit 42:  Industry risks

10. Vendor Analysis 

  10.1 Vendors covered 

  Exhibit 43: Vendors covered

  10.2 Market positioning of vendors 

  Exhibit 44: Market positioning of vendors

  10.3 BAGGIT

  Exhibit 45:  BAGGIT  – Overview

  Exhibit 46:  BAGGIT  – Product and service

  Exhibit 47:  BAGGIT  – Key offerings

  10.4  Da Milano Leathers Pvt. Ltd.  

  Exhibit 48:  Da Milano Leathers Pvt. Ltd.  – Overview

  Exhibit 49:  Da Milano Leathers Pvt. Ltd.  – Product and service

  Exhibit 50:  Da Milano Leathers Pvt. Ltd.  – Key offerings

  10.5  H and M Hennes and Mauritz GBC AB 

  Exhibit 51:  H and M Hennes and Mauritz GBC AB – Overview

  Exhibit 52:  H and M Hennes and Mauritz GBC AB – Business segments

  Exhibit 53:  H and M Hennes and Mauritz GBC AB – Segment focus

  10.6 Hidesign  

  Exhibit 54:  Hidesign  – Overview

  Exhibit 55:  Hidesign  – Product and service

  Exhibit 56:  Hidesign  – Key offerings

  10.7 Holii 

  Exhibit 57:  Holii – Overview

  Exhibit 58:  Holii – Product and service

  Exhibit 59:  Holii – Key offerings

  10.8 Ladida LLC 

  Exhibit 60:  Ladida LLC – Overview

  Exhibit 61:  Ladida LLC – Product and service

  Exhibit 62:  Ladida LLC – Key offerings

  10.9 Lavie 

  Exhibit 63:  Lavie – Overview

  Exhibit 64:  Lavie – Product and service

  Exhibit 65:  Lavie – Key offerings

  10.10 LVMH Moet Hennessy Louis Vuitton SE

  Exhibit 66:  LVMH Moet Hennessy Louis Vuitton SE – Overview

  Exhibit 67:  LVMH Moet Hennessy Louis Vuitton SE – Business segments

  Exhibit 68:  LVMH Moet Hennessy Louis Vuitton SE – Key offerings

  Exhibit 69:  LVMH Moet Hennessy Louis Vuitton SE – Segment focus

  10.11 SAPL Industries Pvt. Ltd. 

  Exhibit 70:  SAPL Industries Pvt. Ltd. – Overview

  Exhibit 71:  SAPL Industries Pvt. Ltd. – Product and service

  Exhibit 72:  SAPL Industries Pvt. Ltd. – Key offerings

  10.12 VIP Industries Ltd 

  Exhibit 73:  VIP Industries Ltd. – Overview

  Exhibit 74:  VIP Industries Ltd. – Product and service

  Exhibit 75:  VIP Industries Ltd. – Key offerings

11. Appendix 

  11.1 Scope of the report 

  11.1.1 Market definition

  11.1.2 Objectives

  11.1.3 Notes and caveats

  11.2 Currency conversion rates for US$ 

  Exhibit 76: Currency conversion rates for US$

  11.3 Research Methodology 

  Exhibit 77: Research Methodology

  Exhibit 78: Validation techniques employed for market sizing

  Exhibit 79: Information sources

  11.4 List of abbreviations 

  Exhibit 80: List of abbreviations

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