The Worldwide Luxury Handbag Industry is Expected to Reach $97 Billion by 2026 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Luxury Handbag Market (2021-2026) by Type, Distribution Channel, Material, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.
The Global Luxury Handbag Market is estimated to be USD 71.84 Bn in 2021 and is expected to reach USD 97.05 Bn by 2026, growing at a CAGR of 6.2%.
Key factors such as a rise in per capita income, the evolution of new offerings, and the rise in internet penetration boost market growth. Rising product innovation and changing fashion trends are key opportunities in the market. With the increasing working women population, the manufacturers of luxury handbags are developing handbags fortified with mobile holders, laptop sleeves, and key holders that provide a luxury feel without compromising the quality. The demand for men’s luxury handbags is increasing as they have identified luxury handbags as a lifestyle product. However, the high cost of luxury handbags is major.
The Global Luxury Handbag Market is segmented based on Type, Distribution Channel, Material, and Geography.
Countries Studied
- America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
- Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
- Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
- Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Luxury Handbag Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains the competitive analysis using IGR Positioning Quadrants, Infogence’s Proprietary competitive positioning tool.
Market Dynamics
Drivers
- Overall Rise in Per Capita Income and Increasing Working Women Population
- Evolution of Retail and E-Commerce
- Rise in Internet Penetration and Social Media Influence
Restraint
- Higher Cost of Luxury Bags
Opportunities
- Rising Product Innovation with Changing Fashion Trends
- Demand for Men’s Luxury Handbags
Challenges
- Availability of Alternatives
Companies Mentioned
- Burberry
- Loeffler Randall
- Prada
- Furla
- GANNI
- Giorgio Armani
- Gucci
- Hermes
- Kate Spade
- Longchamp
- Louis Vuitton
- Louvreuse
- Macy’s
- Michael Kors
- Mulberry Group
- Polene
- Ralph Lauren
- Rebecca Minkoff
- Richemont
- Samsonite International
- Valentino
- Vera Bradley Sales
- Yves Saint Laurent
For more information about this report visit https://www.researchandmarkets.com/r/echz1v
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