Purses

Handbag Market Set to Reach New Heights: Projected CAGR of 6.82% Through 2032

Handbag Market

Handbag Market

๐‡๐š๐ง๐๐›๐š๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ was valued at USD 72.89 billion in 2024 and is projected to grow at a CAGR of 6.82%, reaching a market size of USD 123.56 billion by 2032.

๐‡๐š๐ง๐๐›๐š๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ:

Handbags, widely regarded as both functional accessories and fashion statements, are experiencing a surge in demand worldwide. Designed to carry essential personal items, handbags come in various types such as totes, clutches, and satchels. The market has witnessed rapid growth due to evolving consumer preferences, increasing disposable incomes, and the rise of vegan and sustainable alternatives. Key innovations, including multi-functional and cruelty-free designs, are further enhancing the appeal of handbags across demographics.

๐†๐ž๐ญ ๐˜๐จ๐ฎ๐ซ ๐…๐ซ๐ž๐ž ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐ญ๐ก๐ž ๐‹๐š๐ญ๐ž๐ฌ๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:https://www.stellarmr.com/report/req_sample/Handbag-Market/528

๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐‡๐š๐ง๐๐›๐š๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ:

The market’s growth is driven by the increasing demand for stylish and functional accessories among working professionals and millennials. The booming travel and tourism industry has also significantly contributed to handbag sales. Rising disposable incomes, especially in emerging economies, are enabling consumers to invest in premium and luxury handbags. Furthermore, innovations in leather alternatives and eco-friendly materials are addressing consumer concerns about sustainability, boosting market adoption.

๐‡๐š๐ง๐๐›๐š๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ:

The handbag market is embracing significant trends, including the growing preference for sustainable and vegan products. Customization options and innovative designs such as detachable flaps and tech-integrated bags are attracting tech-savvy and fashion-forward consumers. Moreover, the rise of gender-neutral and multifunctional bags is broadening the customer base. The gifting culture, especially during festive seasons, and increasing e-commerce penetration are also playing a pivotal role in market expansion.

๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐“๐จ๐๐š๐ฒ ๐Ÿ๐จ๐ซ ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:https://www.stellarmr.com/report/enquire_now/Handbag-Market/528

๐Œ๐ž๐ซ๐ ๐ž๐ซ๐ฌ ๐š๐ง๐ ๐€๐œ๐ช๐ฎ๐ข๐ฌ๐ข๐ญ๐ข๐จ๐ง๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐‡๐š๐ง๐๐›๐š๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ

๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ

Vietnam’s handbag market is experiencing robust growth due to its thriving fashion industry and rising middle-class population. The local market is benefitting from increased collaborations between international brands and Vietnamese manufacturers. For example, Coach and Michael Kors have expanded their operations in Vietnam, tapping into the growing consumer base. Additionally, the country’s strong export capacity makes it a key player in the global supply chain.

๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐“๐ก๐š๐ข๐ฅ๐š๐ง๐’๐ฌ ๐‡๐š๐ง๐๐›๐š๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ

Thailand’s market is witnessing substantial growth, driven by high tourism influx and consumer preference for luxury products. Major brands like Louis Vuitton and Gucci are bolstering their presence through new store launches and marketing campaigns. The Bangkok metropolitan area remains a hotspot for handbag sales, contributing significantly to the market’s growth trajectory.

๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐œ๐š๐ฅ ๐ˆ๐ง๐ง๐จ๐ฏ๐š๐ญ๐ข๐จ๐ง๐ฌ ๐ƒ๐ซ๐ข๐ฏ๐ข๐ง๐  ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐‰๐š๐ฉ๐š๐ง

Japan is characterized by its consumers’ penchant for high-quality and minimalist designs. The market is dominated by brands like Hermรจs and Prada, which are popular among fashion-forward Japanese consumers. Recent collaborations between Japanese designers and global brands, such as Issey Miyake x Bao Bao, are driving innovation and demand.

๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐Ÿ๐จ๐ซ ๐„๐ฑ๐ฉ๐š๐ง๐ฌ๐ข๐จ๐ง ๐ข๐ง ๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š

South Korea’s handbag market is thriving, supported by its burgeoning K-fashion industry. Brands like Chanel and Burberry have reported increased sales in the region, owing to the influence of K-pop celebrities and social media trends. Additionally, local brands such as Gentle Monster are gaining international recognition, contributing to South Korea’s position as a fashion hub.

๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž’๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ

Singapore’s luxury handbag market is undergoing consolidation, with major global players enhancing their footprint in the region. Recent acquisitions, such as LVMH’s investment in regional distributors, highlight the importance of Singapore as a strategic market. The country’s high disposable income and strong appetite for luxury goods are key growth drivers.

๐”๐ฉ๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐ญ๐ก๐ž ๐”๐’ ๐Œ๐š๐ซ๐ค๐ž๐ญ

The US remains a dominant player in the global handbag market, with increasing consumer demand for sustainable and vegan products. Companies like Kate Spade and Tory Burch are leading the charge with eco-friendly collections. E-commerce giants, including Amazon and Nordstrom, are investing heavily in digital marketing and logistics to cater to the evolving preferences of American consumers.

๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ซ๐จ๐ฌ๐ฉ๐ž๐œ๐ญ๐ฌ ๐ข๐ง ๐„๐ฎ๐ซ๐จ๐ฉ๐ž

Europe’s handbag market is at the forefront of innovation, with leading brands like Fendi and Bottega Veneta driving growth through craftsmanship and heritage. The region has also witnessed significant mergers and acquisitions, such as Kering Group’s strategic investments to diversify its product portfolio. Furthermore, European consumers’ preference for bespoke and limited-edition products continues to shape the market dynamics.

๐‚๐ฎ๐ซ๐ข๐จ๐ฎ๐ฌ ๐€๐›๐จ๐ฎ๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ? ๐†๐ซ๐š๐› ๐˜๐จ๐ฎ๐ซ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐“๐จ๐๐š๐ฒ:https://www.stellarmr.com/report/req_sample/Handbag-Market/528

๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐‡๐š๐ง๐๐›๐š๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ:

by Product

Tote
Clutch
Satchel
Others

by Raw Material

Leather
Fabrics
Others

by End User

Men
Women

by Distribution Channel

Online
Offline

๐–๐ก๐จ ๐ข๐ฌ ๐ญ๐ก๐ž ๐ฅ๐š๐ซ๐ ๐ž๐ฌ๐ญ ๐ฆ๐š๐ง๐ฎ๐Ÿ๐š๐œ๐ญ๐ฎ๐ซ๐ž๐ซ๐ฌ ๐จ๐Ÿ ๐‡๐š๐ง๐๐›๐š๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ฐ๐จ๐ซ๐ฅ๐๐ฐ๐ข๐๐ž?

Coach IP Holdings LLC (U.S.)
Louis Vuitton Malletier (France)
Chanel Ltd(France)
Guccio Gucci S.p.A.( Italy)
Prada S.p.A. (Italy)
Fendi (Italy)
Burberry (U.K.)
Hermรจs International S.A.( France)
Kate Spade (U.S.)
Calvin Klein Inc. (U.S.)
Burberry Group PLC. ( Italy)
Kering SA (France)
Tapestry, Inc (New York)
Michael Kors (New York)
Ted Baker plc ( United Kingdom)

๐…๐จ๐ซ ๐ฆ๐จ๐ซ๐ž ๐ข๐ง๐Ÿ๐จ๐ซ๐ฆ๐š๐ญ๐ข๐จ๐ง ๐š๐›๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ฏ๐ข๐ฌ๐ข๐ญ:https://www.stellarmr.com/report/Handbag-Market/528

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐Œ๐จ๐ซ๐ž: ๐•๐ข๐ฌ๐ข๐ญ ๐Ž๐ฎ๐ซ ๐–๐ž๐›๐ฌ๐ข๐ญ๐ž ๐Ÿ๐จ๐ซ ๐€๐๐๐ข๐ญ๐ข๐จ๐ง๐š๐ฅ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ:

โ™ฆ Sterilization Pouches Market https://www.stellarmr.com/report/Sterilization-Pouches-Market/1200
โ™ฆ Kid’s Digital Advertising Market https://www.stellarmr.com/report/Kids-Digital-Advertising-Market/1392
โ™ฆ Game Headphone Market https://www.stellarmr.com/report/Game-Headphone-Market/1394
โ™ฆ Global Aeroponics Market https://www.stellarmr.com/report/Global-Aeroponics-Market/1399
โ™ฆ Communication Antenna Market https://www.stellarmr.com/report/Communication-Antenna-Market/1424
โ™ฆ Food Supplement and Drink Market https://www.stellarmr.com/report/Food-Supplement-and-Drink-Market-/1466
โ™ฆ Lipase Food Enzymes Market https://www.stellarmr.com/report/Lipase-Food-Enzymes-Market/1499
โ™ฆ Cookers and Ovens Market https://www.stellarmr.com/report/Cookers-and-Ovens-Market/1520
โ™ฆ OBGYN EHR Market https://www.stellarmr.com/report/OBGYN-EHR-Market/1552
โ™ฆ Alpaca apparel and accessories Market https://www.stellarmr.com/report/Alpaca-apparel-and-accessories-Market/1661

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐’๐ญ๐ž๐ฅ๐ฅ๐š๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:
S.no.8, h.no. 4-8 Pl.7/4, Kothrud,
Pinnac Memories Fl. No. 3, Kothrud, Pune,
Pune, Maharashtra, 411029
sales@stellarmr.com

๐€๐›๐จ๐ฎ๐ญ ๐’๐ญ๐ž๐ฅ๐ฅ๐š๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

This release was published on openPR.

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