Handbags Market in India by Product and Distribution Channel - Forecast and Analysis 2021-2025

  • Published: Apr 2021
  • Pages: 120
  • SKU: IRTNTR70514
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The handbags market in India has the potential to grow by USD 207.51 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 4.90%.

This handbags market research in India report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (clutches and wallets, shoulder bags, satchels and saddles, and totes) and distribution channel (offline and online). The handbags market in India report also offers information on several market vendors, including Baggit, Capri Holdings Ltd., Da Milano Leathers Pvt. Ltd., H & M Hennes & Mauritz AB, Hidesign, Kering SA, Lavie, LVMH Moet Hennessy - Louis Vuitton, The House of Tara, and VIP Industries Ltd. among others.

What will the Handbags Market Size in India be in 2021?

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Handbags Market In India: Key Drivers and Trends

The expansion of retail and online distribution landscape is notably driving the handbags market growth in India, although factors such as threats associated with counterfeit products may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the handbags industry in India get your FREE report sample now.

  • Handbags are most commonly used by people across the world, including India, to carry personal items. This is encouraging vendors to increase their production and distribution across India.
  • Distributors play an important role in the supply chain of several consumer goods, including handbags. 
  • With changes in consumer purchasing behavior and buying practices, the retail landscape is evolving across the world, including India.
  • Consumers are shifting their purchasing preference from conventional stores to online channels for buying all kinds of consumer goods, including handbags. 
  • The growing Internet connectivity and the increasing adoption of smartphones further support the emergence of the online retailing of handbags in India. These factors will boost the sales of handbags through online retail channels in India during the forecast period.
  • Rising number of product endorsements by celebrities is one of the key handbags market trends.
  • Most global and local vendors present in the handbags market in India adopt marketing strategies such as product endorsement to increase their sales in various countries, including India. 
  • Celebrity endorsements help vendors in gaining customers’ attention and improve the popularity of their products, which, in turn, is expected to increase the sales of handbags among consumers across the country.
  • Celebrity endorsements also help in developing and strengthening customers’ trust in the quality of products that the brand offers. This, in turn, is expected to foster the growth of the handbag market in India during the forecast period. 

This handbags market analysis in India report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Handbags Market In India Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Baggit
  • Capri Holdings Ltd.
  • Da Milano Leathers Pvt. Ltd.
  • H & M Hennes & Mauritz AB
  • Hidesign
  • Kering SA
  • Lavie
  • LVMH Moet Hennessy - Louis Vuitton
  • The House of Tara
  • VIP Industries Ltd.

 

The handbags market in India is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the handbags market forecast in India report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

What are the Revenue-generating Product Segments in the Handbags Market in India?

Handbags-Market-In-India-Market-Share-by-Product-2020-2025

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The growing disposable income, rising spending by millennials on designer products, surging demand for luxury and premium leather wallets, and increasing number of working women across India are the major factors expected to boost the demand for clutches and wallets and thereby drive the growth of the segment in the handbags market in India during the forecast period.  Therefore, the growth of the market segment is expected to be significant during the forecast period.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the handbags market size in India.

 

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What are the Key Factors Covered in this Handbags Market in India Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive handbags market growth in India during the next five years
  • Precise estimation of the handbags market size in India  and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the handbags industry in India 
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of handbags vendors in India 

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Handbags Market In India Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5%

Market growth 2021-2025

$ 207.51 million

Market structure

Fragmented

YoY growth (%)

4.24

Regional analysis

Afghanistan, Albania, Algeria, Asia, and Austria

Performing market contribution

India at 100%

Key consumer countries

Afghanistan, Albania, Austria, Bahrain, Armenia, and Armenia

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Baggit, Capri Holdings Ltd., Da Milano Leathers Pvt. Ltd., H & M Hennes & Mauritz AB, Hidesign, Kering SA, Lavie, LVMH Moet Hennessy - Louis Vuitton, The House of Tara, and VIP Industries Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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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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The handbags market growth will increase by $207.51 million during 2020-2025.
The handbags market is expected to grow at a CAGR of 4.90% during 2020-2025.
Technavio has segmented the handbags market by product (Clutches and wallets, Shoulder bags, Satchels and saddles, and Totes) ,distribution channel (Offline and Online) , and geographic (Afghanistan, Albania, Algeria, Asia, and Austria).
Baggit, Capri Holdings Ltd., Da Milano Leathers Pvt. Ltd., H & M Hennes & Mauritz AB, Hidesign, Kering SA, Lavie, LVMH Moet Hennessy - Louis Vuitton, The House of Tara, VIP Industries Ltd. are a few of the key vendors in the handbags market.
Afghanistan will register the highest growth rate of 62.26% among the other regions. Therefore, the handbags market in Afghanistan is expected to garner significant business opportunities for the vendors during the forecast period.
  • Afghanistan
  • Albania
  • Austria
  • Bahrain
  • Armenia
  • Armenia
The key factors driving the handbags market growth are:
  • Expansion of retail and online distribution landscape
  • Personalization and customization of handbags
The handbags market vendors should focus on grabbing business opportunities from the clutches and wallets segment as it accounted for the largest market share in the base year.
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