Handbag Market by Type, Distribution Channel and Geography - Forecast and Analysis 2023-2027

  • Published: Mar 2023
  • Pages: 161
  • SKU: IRTNTR70869

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Handbag market growth will increase by $14110.72 million during 2023-2027.
The handbag market is expected to grow at a CAGR of 4.3% during 2023-2027.
Technavio has segmented the handbag market by type (Leather, Fabric, and others) ,distribution channel (Offline and Online) , and geography (APAC, North America, Europe, South America, and Middle East and Africa).
Burberry Group Plc, CHANEL Ltd., Compagnie Financiere Richemont SA, Deeya International, Dolce and Gabbana S.r.l, Fossil Group Inc., Hermes International SA, Kering SA, Macys Inc., MCM Products USA Inc., Michael Kors Switzerland GmbH, Nath Brothers Exim International Ltd., Prada S.p.A, PVH Corp., Samsonite International SA, Tapestry Inc., Ted Baker PLC, The LVMH group, Tory Burch LLC, VALENTINO Spa are a few of the key vendors in the handbag market.
APAC will register the highest growth rate of 44.48% among the other regions. Therefore, the handbag market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the handbag market growth are:
  • Personalization and customization of luxury handbags
  • Increased demand at airport retail stores
The handbag market vendors should focus on grabbing business opportunities from the Leather segment as it accounted for the largest market share in the base year.
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