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Clutch Bag Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2020-2024

  • Published: Dec 2019
  • Pages: 134
  • SKU: IRTNTR40745
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The global clutch bag market has the potential to grow by USD 4.92 billion during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by distribution channel (offline and online) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including Burberry Group Plc, Capri Holdings Ltd., CHANEL Ltd., Dolce & Gabbana Srl, Global Brands Group Holding Ltd., Hermès International, Kering SA, LVMH Moët Hennessy - Louis Vuitton, Ralph Lauren Corp., and Tapestry Inc.

Market Overview

Clutch-Bag-Market-Size

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Market Competitive Analysis

The clutch bag market is fragmented, and the degree of fragmentation will increase during the forecast period. Market vendors are introducing new designs and styles of clutch bags to strengthen their position in the clutch bag market. Burberry Group Plc, Capri Holdings Ltd., and CHANEL Ltd. are some of the major market participants. Although the growing demand for luxury clutch bags will offer immense growth opportunities, the presence of counterfeit products will challenge the growth of the market participants. To increase their clutch bag market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this clutch bag market forecast report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this clutch bag market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading clutch bag manufacturers, including:

  • Burberry Group Plc
  • Capri Holdings Ltd.
  • CHANEL Ltd.
  • Dolce & Gabbana Srl
  • Global Brands Group Holding Ltd.
  • Hermès International
  • Kering SA
  • LVMH Moët Hennessy - Louis Vuitton
  • Ralph Lauren Corp.
  • Tapestry Inc.

Clutch Bag Market: Segmentation by Region

Clutch-Bag-Market-Share-by-Geography

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APAC was the largest market for clutch bags in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Increased spending by millennials on personal goods, rising disposable income, growing demand for luxury and premium leather products, and increasing population of working women are some of the significant factors contributing to clutch bag market growth in this region.

Almost 37% of the market’s growth will originate from APAC during the forecast period. China is an important market for the clutch bag in APAC. Market growth in this region will be faster than the growth of the market in other geographies.

Clutch Bag Market: Segmentation by Distribution Channel

Clutch-Bag-Market-Share-by-Distribution-Channel

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Offline retail stores allow consumers to choose from a wide range of clutch bags of various brands and categories based on their budget and requirement. The convenience offered by the offline distribution channel will boost the sales of clutch bags through various new retail formats, including signature stores, factory outlets, malls, and shopping centers.

Market growth in this segment will be faster than the growth of the market in the online segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the clutch bag market size.

Clutch Bag Market: Key Drivers and Trends

The growing demand for luxury clutch bags will be a significant factor in driving the growth of the clutch bag market. With the rising spending power of consumers, the need for luxury products, including luxury clutch bags, has also increased. The demand for luxury clutch bags is expected to be particularly high among the baby boomer population segment in countries, such as the US, the UK, China, France, and Italy. Several luxury brands are using AI-powered technologies and adopting targeted marketing, personalization, and timely automation strategies to attract more customers and increase their sales of luxury clutch bags. Moreover, the rising popularity of celebrity-endorsed luxury brands will influence the spending behavior of consumers and boost the sales of luxury clutch bags.

  • The demand for cruelty-free products is increasing among consumers.
  • The restriction on the hunting of animals due to concerns raised by governments and various animal protection agencies has limited the supply of leather.
  • The rising demand for vegan leather-based and eco-friendly products, which is one of the critical clutch bag market trends, has driven market vendors to use vegan leather made from plant materials to manufacture handbags, including clutch bags.
  • Several prominent clutch bag vendors are using 100% recycled plastic bottles to make the inside lining of clutch bags.
  • CHANEL has gone cruelty-free and stopped using fur and animal skin for its products, including clutch bags.
  • During 2020-2024, the clutch bag market will grow at a CAGR of almost 6%.

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Clutch Bag Market: Key Highlights of the Report for the Forecast Period 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will accelerate the growth of the handbag market during the next five years
  • Precise estimation of the global clutch bag market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the clutch bag industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of clutch bag vendors 

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Value chain analysis
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2019
  • Market size and forecast 2019-2024
  • Market outlook

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL

  • Market segmentation by distribution channel
  • Comparison by distribution channel
  • Offline - Market size and forecast 2019-2024
  • Online - Market size and forecast 2019-2024
  • Market opportunity by distribution channel

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 11: MARKET TRENDS

  • Customized clutch bags
  • Vegan leather and eco-friendly materials for clutch bags
  • Increasing fashion sense of customers and spending on personal goods

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Burberry Group Plc
  • Capri Holdings Ltd.
  • CHANEL Ltd.
  • Dolce & Gabbana Srl
  • Global Brands Group Holding Ltd.
  • Hermès International
  • Kering SA
  • LVMH Moët Hennessy - Louis Vuitton
  • Ralph Lauren Corp.
  • Tapestry Inc.

PART 14: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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