U.S. Luxury Handbag Market Size

U.S. Luxury Handbag Market Size & Trends

The U.S. luxury handbag market size was estimated at USD 11.48 billion in 2024 and is projected to grow at a CAGR of 4.7% from 2025 to 2030. The demand for luxury handbags in the U.S. is experiencing significant growth, driven largely by a rise in disposable income among specific consumer segments, particularly millennials and Gen Z. As more people in these age groups attain higher income levels, they are increasingly inclined to purchase luxury items as a way of expressing status and personal style. Luxury handbags, in particular, serve as both functional items and fashion statements, making them appealing to those who wish to showcase their social standing through high-end accessories.

Social media and celebrity endorsements also play a crucial role in driving luxury handbag demand. Platforms like Instagram and TikTok feature countless influencers and celebrities showcasing luxury brands such as Chanel, Gucci, and Louis Vuitton. This social media visibility creates aspirational appeal and reinforces luxury handbags as must-have items among trend-conscious consumers, especially younger buyers who closely follow the latest fashion trends and celebrities.

Furthermore, there is an increasing preference for quality and longevity among U.S. consumers, with many now favoring luxury handbags as investment pieces. High-end bags from renowned brands often maintain or even appreciate in value over time, appealing to those looking for both style and durability. This shift toward investment in quality rather than fast fashion has fueled demand for designer handbags that offer lasting value, prestige, and timeless appeal.

The growth in the e-commerce industry and the expansion of direct-to-consumer channels by luxury brands have also made it easier for a broader range of U.S. consumers to access high-end products. Many luxury brands have enhanced their digital presence, allowing customers nationwide to purchase these items conveniently online. This increased accessibility contributes significantly to the growing demand for luxury handbags, catering to consumers beyond the traditional fashion capitals and opening up new market segments across the country, driving the luxury handbags industry in the U.S.

Product Insights

Tote bags accounted for a revenue share of 33.5% in 2024 in the U.S. market. Tote bags have become fashionable accessories, often available in unique designs and customizable options. Consumers use them to express personal style or make a statement, which increases their appeal as a trendy accessory. Tote bags offer ample space and are highly versatile, suitable for shopping, work, travel, or everyday use. Their convenience appeals to a broad demographic, making them a practical choice for carrying various items.

The satchel segment is expected to grow at a CAGR of 4.8% from 2025 to 2030 in the U.S. market. Satchels are popular for both work and casual use, offering a stylish yet functional option that transitions well from office to leisure settings. Their structured design and typically larger compartments make them suitable for carrying laptops, documents, or daily essentials. Satchels appeal to a wide audience, including both men and women, with their classic, unisex designs. This appeal broadens their market reach, making them an attractive option across different demographics looking for fashionable, functional bags.

Key U.S. Luxury Handbag Company Insights

The U.S. luxury handbags industry is characterized by numerous well-established and emerging players. Manufacturers in the U.S. luxury handbags industry are engaging in a variety of strategic initiatives to keep pace with evolving consumer demands and market trends driving the industry.

Recent Development

• In December 2023, Heritage Brand, a luxury handbag company based in Oregon, launched its latest product, the Fyra, a handcrafted crossbody sling bag designed for convenience and style. This new bag reflects a trend in the fashion industry towards hands-free designs and incorporates Western elements into its aesthetic. The Fyra debuted at the Cowboy Channel Cowboy Christmas event during the Wrangler National Finals Rodeo. It quickly gained popularity, being spotted by prominent Western fashion influencers and celebrities like Fivel Stewart within just a week of its release.

U.S. Luxury Handbag Market Report Scope

Report Attribute	Details
Market size value in 2025	USD 11.99 billion
Revenue forecast in 2030	USD 15.07 billion
Growth Rate (Revenue)	CAGR of 4.7% from 2025 to 2030
Actuals	2018 – 2023
Forecast period	2025 – 2030
Quantitative units	Revenue in USD million/ billion and CAGR from 2025 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, trends
Segments covered	Product
Country scope	U.S.
Key companies profiled	Louis Vuitton; Hermès; Chanel; Gucci; Prada; Dior; Fendi; Burberry; Michael Kors; Tory Burch
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options

U.S. Luxury Handbag Market Report Segmentation

This report forecasts revenue growth at the country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the U.S. luxury handbag market report based on product.

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