Luxury Handbags Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Handbags are handheld or shoulder-hung bags that are used to carry personal items and belongings like money, cards, cosmetics, etc. Luxury handbags are premium class handbags that are widely used by women worldwide. These are available in different style suited for different occasions. Several manufacturers are offering additional features in handbags such as inside pockets, multi-purpose functionality, or convertibility. Since handbags are being considered a major fashion statement, there is an ongoing growth in the global luxury handbags market.

MARKET DYNAMICS

The rising working women population across the world has significantly increased the demand for luxury handbags. Moreover, the ongoing digitalization in major countries and the consequent advancement in internet penetration, especially in developing countries like India, Brazil and China has made social media websites an ideal channel for promotion and marketing of luxury handbags. However, the widespread counterfeit products available in various regions is hindering the growth of global luxury handbags market.

MARKET SCOPE

The "Global Luxury Handbags Market Analysis to 2031" is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the luxury handbags market with detailed market segmentation by Material, Style, and Distribution Channel. The global luxury handbags market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading luxury handbags market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global luxury handbags market is segmented into Material, Style, and Distribution Channel. By material, the luxury handbags market is classified into Leather, Canvas, Synthetic, Others. By Style, the market is segmented as Shoulder Bags, Cross-body Bags, Tote Bags, Clutch, Others. By distribution channel, the luxury handbags market is classified into Specialty Stores, Online Retail, Others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global luxury handbags market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2031 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America. The luxury handbags market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally, along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the luxury handbags market from both demand and supply side. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions, namely, North America, Europe, APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the luxury handbags market in these regions.

MARKET PLAYERS

The report covers vital developments in the luxury handbags market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from the luxury handbags market are anticipated to lucrative growth opportunities in the future with the rising demand for luxury handbags in the global market. below mentioned is the list of few companies engaged in the luxury handbags market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the luxury handbags market. Besides, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last three years, the critical development in the past five years.

•   PRADA
  
•   Hermès
  
•   Louis Vuitton
  
•   Guccio Gucci S.p.A.
  
•   Yves Saint Laurent
  
•   Christian Dior SE
  
•   Kering
  
•   Celine
  
•   Givenchy
  
•   Burberry
  

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the current study.

Luxury Handbags Report Scope