Allied Market Research published a report, titled, “Luxury Handbag Market by Type (Handbag, Backpack, Wallet, and Others), and Distribution Channel (Duty-Free Stores, Online Stores, Discount Stores, Hypermarkets, And Specialty Stores): Global Opportunity Analysis and Industry Forecast, 2019-2026.” According to the report, the global luxury handbag industry was estimated at $58.3 billion in 2018 and is expected to hit $89.9 billion by 2026, registering a CAGR of 5.6% from 2019 to 2026.
Drivers, restraints, and opportunities-
Rise in online retail of luxury handbag and development in emerging economies fuel the growth of the global luxury handbag market. On the other hand, high taxation and import duties on luxury goods restrain the growth to some extent. However, development in social media marketing is expected to create multiple opportunities in the near future.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6362
The handbag segment to lead the trail till 2026-
Based on type, the handbag segment contributed to more than half of the global luxury handbag market share in 2018, and is expected to retain its dominance by the end of 2026. Factors such as emergence of young populace, increase in disposable income, rise in number of working women, and surge in affordability of luxury products are expected to propel the growth of the segment. Simultaneously, the wallet segment would cite the fastest CAGR of 7.00% during 2019-2026. Manufacturers are now launching different kinds of designer wallets and specialized editions for the same, and this factor is attracting the customers from all over the world, thereby boosting the segment growth.
The specialty stores segment to maintain its top status during the estimated period-
By distribution channel, the specialty stores segment held the major share in 2018, generating more than half of the global luxury handbag market. Increase in affluent population in emerging countries such as China has driven the growth of the segment. At the same time, the online stores would grow at the fastest CAGR of 14.4% till 2026, owing to rise in internet penetration across the globe.
Europe, followed by North America, to dominate in terms of revenue-
Based on geography, Europe accounted for more than one-third of theglobal luxury handbag market revenue in 2018, and is anticipated to rule the roost by 2026. This is because the European market presents attractive opportunities for the consumer goods sector. The region across Asia-Pacific, on the other hand, is projected to showcase the fastest CAGR of 8.2% during the estimated period. Demographics, reduction of productivity and rise of the digital economy impact the long-term growth of the Asia-Pacific luxury handbag market.
For Purchase Enquiry at:
https://www.alliedmarketresearch.com/purchase-enquiry/6362
Leading players in the market-
FurlaSpA
Luxottica Group
ZV France SAS
Samsonite International S.A./Tumi brand
LVMH
Mulberry Group
Vera Bradley
Guccio Gucci S.p.A
Longchamp
Valentino S.p.A.
ZV France SAS
Know More https://www.alliedmarketresearch.com/press-release/luxury-handbag-market.html
TRENDING REPORTS :-
Handheld Fans Market https://www.alliedmarketresearch.com/handheld-fans-market-A17759
Home Rehabilitation Products Market https://www.alliedmarketresearch.com/home-rehabilitation-products-market-A16857
Contact:
Davin Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |
About Us:
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides end-to-end solutions along with information, education, advocacy, and networking resources to SMEs and early-stage start-ups to bring excellence to their processes. In addition, we offer a nurturing environment required to develop and grow businesses, including business planning; virtual support; market intelligence; acquiring resources; and getting direct access to finance, suppliers, and other experts to boost the growth of businesses and entrepreneurs.
Our bundled and hassle-free business support systems are customized to meet the needs of SME consultants and industry leaders. Moreover, our large network of skilled consultants and experts help start-ups get the business on a roll.
This release was published on openPR.
This post was originally published on this site be sure to check out more of their content.
