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

MARKET INTRODUCTION

A wallet is a small, flat case usually made of leather that can be used to carry personal items such as cash, debit and credit cards, and identification documents, photographs, transit pass, business cards, and other paper documents. Wallets are comfortable and convenient to carry and are also seen as a status symbol. Rising innovation in wallet design with new features is driving the growth of the wallet market across the globe.

MARKET DYNAMICS

The global luxury wallet market is expected to grow at progressive CAGR during the forecast period. Increasing popularity of leather products due to durability, and its fireproof, dustproof, and crack-proof features is surging the sale of wallets. Increasing disposable income and rising expenditure on luxury lifestyle products is playing a major role in driving the wallet market. Nowadays consumers are well versed about trends and fashion due to rising adoption of social media platforms. This is likely to enhance consumer preference for fashion related products. Increasing working population and growing fashion industry has also resulted in rising demand for wallets. Growing popularity of retail stores and various online channels is also expected to drive the demand during the forecast period. However, shifting consumer focus from conventional to digital technology is resulting in popularity of e-wallet which is hampering the growth of the wallet market. People now prefer e-cash instead of hard cash and digital documents in place of paper documents. Introduction of various substitutes such as small plastic case, clutches, handbags etc. is slowing down the growth of the wallet market.

MARKET SCOPE

The "Global Luxury Wallet Market Analysis to 2031" is a specialized and in-depth study of the Consumer Goods industry with a special focus on the global market trend analysis. The report aims to provide an overview of the luxury wallet market with detailed market segmentation by category and distribution channel. The global luxury wallet market is expected to rise during the forecast period. The report provides key statistics on the market status of the leading luxury wallet market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global luxury wallet market is segmented on the basis of category and distribution channel. Based on category luxury wallet market is segmented into men, women and unisex. On the basis of distribution channel, the market is bifurcated into supermarkets and hypermarkets, specialty stores, online retail, and 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 wallet market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South & Central America. The luxury wallet 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 wallet market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. 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 wallet market in these regions.

MARKET PLAYERS

The report covers vital developments in the luxury wallet 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 payers from the luxury wallet market are anticipated to lucrative growth opportunities in the future with the rising demand for luxury wallet in the global market. Below mentioned is the list of few companies engaged in the luxury wallet market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the luxury wallet 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.

•   Versace
  
•   Prada
  
•   Dolce and Gabbana
  
•   Giorgio Armani S.P.A
  
•   Ermenegildo Zegna
  
•   Kiton
  
•   Channel
  
•   Hentley.
  
•   Harber London
  
•   Louis Vuitton.
  

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

Luxury Wallet Report Scope