NEW YORK, Oct. 12, 2023 /PRNewswire/ — The India – handbags market is estimated to grow by USD 1.42 billion from 2022 to 2027, growing at a CAGR of 7.15%. The handbags market in India is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer handbags market are Aranyani, BAGGIT, Burberry Group Plc, Da Milano Leathers Pvt. Ltd., Deeya International, Fossil Group Inc., H and M Hennes and Mauritz GBC AB, Hermes International SA, Hidesign, Intouch Leather House Pvt. Ltd., Lavie, Lino Perros, LVMH Moet Hennessy Louis Vuitton SE, Miraggio Lifestyles Pvt. Ltd., Odette E Retail Pvt. Ltd., Prada Spa, Victorias Secret and Co., VIP Industries Ltd., Zouk, and ALDO Group Inc. For details on companies and their offerings – Buy a report!
- Burberry Group Plc – The company offers various types of handbags such as crossbody, tote bags, and purses.
- Da Milano Leathers Pvt. Ltd. – The company offers handbags such as canvas, check, and leather tote bags.
- Deeya International – The company offers handbags such as sling bags, hobo, totes, and leather satchels.
- The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying
- Impactful driver- Rising number of product endorsements by celebrities
- Key Trend – Increasing demand for eco-friendly and sustainable handbags
The increasing demand for eco-friendly and sustainable handbags is an emerging handbag market in India. Tanning traditional leather is harmful and causes an ecological imbalance. Furthermore, the organic leather tanning process involves the tanning process mainly includes the use of vegetable tannins, plant tannins, and smoke.
- Major Challenges – Long product replacement cycles
- By Product Type,
- According to Technavio, the totes segment was the largest segment, which was valued at USD 881.80 million in 2017. Tote bags are used as large handbags that have parallel handles. These handles hang from the sides, which allows them to be hung from the user’s shoulder. A tote bag is preferably used for shopping purposes. However, several companies are currently marketing totes as laptop, sports, and travel bags. Increasing demand for tote bags among the working population, the growing demand for tote travel bags at airport retail outlets, the rising preference for affordable luxury tote bags, there has been a rise in the availability of personalized and customized tote bags, and the growing demand for tote bags among Millennials are the major factors expected to fuel the demand for tote bags as well as the growth of the segment during the forecast period.
Technavio Research experts have provided more insights on the market share of segments – View Free Sample Report
The school bags market size is estimated to grow at a CAGR of 6.65% between 2022 and 2027. The market size is forecast to increase by USD 6.38 billion. The growth of the market depends on several factors, such as innovations in materials and designs leading to product premiumization, the high demand for lightweight school bags, and the increasing global literacy rate.
The camping sleeping bags market size is estimated to grow at a CAGR of 6.45% between 2022 and 2027. The market size is forecast to increase by USD 616.97 million.
Handbags Market Scope In India
Growth momentum & CAGR
Accelerate at a CAGR of 7.15%
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
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Originally published at https://www.prnewswire.com/news-releases/india—handbags-market-to-grow-by-usd-1-42-billion-from-2022-to-2027–market-is-fragmented-due-to-the-presence-of-prominent-companies-like-aranyani-baggit-and-burberry-group-plc-many-more-301954013.html
Some images courtesy of https://pixabay.com