Dublin, July 24, 2024 (GLOBE NEWSWIRE) — The “Handbags – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Handbags is estimated at US$63.0 Billion in 2023 and is projected to reach US$96.8 Billion by 2030, growing at a CAGR of 6.3% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The rise of e-commerce has revolutionized the handbag sales landscape, with online platforms becoming increasingly crucial for reaching younger, tech-savvy consumers. Despite this shift to digital, physical stores continue to play a vital role, particularly for customers who value the tactile shopping experience. Retailers are enhancing in-store experiences to remain competitive.
Innovations in product design, such as the introduction of smart handbags with integrated technology features, and the increasing demand for eco-friendly options highlight the industry`s adaptation to consumer preferences for functionality, style, and sustainability.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Hermes International SA, Kering SA, LVMH Moet Hennessy – Louis Vuitton, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Tote Bag segment, which is expected to reach US$41.6 Billion by 2030 with a CAGR of a 7.2%. The Clutch Bag segment is also set to grow at 6.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $16.5 Billion in 2023, and China, forecasted to grow at an impressive 9.6% CAGR to reach $22.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Handbags Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 268 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $63 Billion |
| Forecasted Market Value (USD) by 2030 | $96.8 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Handbags – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
MARKET TRENDS & DRIVERS
- Luxury Market Trends Propel Demand for Premium Handbag Brands
- Influence of Fast Fashion on the Rapid Turnover of Handbag Styles
- Growth of E-commerce and Online Shopping Expands Market Opportunities
- Trends in Consumer Customization and Personalization in Fashion Accessories
- Celebrity Endorsements and Influencer Marketing Drive Brand Visibility and Demand
- Technological Integration in Handbags & Rise of Wearable Tech Handbags, an Interesting Trend to Watch out for!
- Consumers Shift Towards Vegan and Eco-Friendly Materials
- Impact of Counterfeiting on Brand Integrity and Market Dynamics
- Innovations in Materials and Manufacturing Techniques Propel Product Development
- Manufacturers Pay More Attention to Gender Fluid Fashion and Unisex Handbag Designs. Here’s Why
FOCUS ON SELECT PLAYERS (Total 231 Featured)
- Hermes International SA
- Kering SA
- LVMH Moet Hennessy – Louis Vuitton
- Prada SpA
- Tapestry, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ut7s4n
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ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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