Enjoy complimentary customisation on priority with our Enterprise License!
The handbags market share in Brazil is expected to increase by USD 834.68 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 9.26%.
This handbags market in Brazil research 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 the handbags market in Brazil segmentation by distribution channel (offline and online) and product type (clutches and wallets, shoulder bags, satchels and saddles, and totes). The handbags market in Brazil report also offers information on several market vendors, including Arezzo COAREZZO INDUSTRIA E COMERCIO SA, ARTIFACT, BAGGU, Botkier, Brynn Capella Inc., Capri Holdings Ltd, CHANEL Ltd., Clare V, Dolce and Gabbana Srl, Etsy Inc., GiGi New York, Giorgio Armani S.p.A., Hermes International SA, LVMH Moet Hennessy Louis Vuitton SE, Mulberry Group Plc, Olivela Inc., Prada Spa, Shiraleah Chicago, Tapestry Inc., and Tory Burch LLC among others.
Download Report Sample to Unlock the Handbags Market Size in Brazil for the Forecast Period and Other Important Statistics
The researcher studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges market.
Key Handbags Market Driver in Brazil
The rising demand for eco-friendly and sustainable handbags is one of the key drivers fueling the Brazilian handbags market growth. With the shift to eco-friendly products and growing interest in minimizing the carbon footprint, consumers are starting to demand sustainable and eco-friendly handbags. As such, vendors focus on developing and promoting eco-friendly handbags that help reduce the negative environmental impact of the purse manufacturing process significantly. Traditional leather tanning is bad for people and disrupts the environment. As a result, there is an increase in demand for specific raw materials used in the production of handbags in nations all over the world. Thus, the increasing focus of vendors on manufacturing eco-friendly and sustainable handbags and the rising adoption of such products among consumers in Brazil are expected to drive the growth of the market during the forecast period
Key Handbags Market Trend in Brazil
The strong influence of celebrity endorsements on purchasing decisions is one of the key Brazilian handbags market trends propelling the market growth. Recommendations and the use of fashion products such as luxury handbags by celebrities act as catalysts in driving purchase decisions. Manufacturers of handbags and personal luxury goods adopt a variety of marketing campaigns and strategies to expand their customer base. Celebrity endorsements are a popular marketing tool used by sellers to build their brand /image and trigger sales of luxury handbags. This, in turn, will propel market growth in the near future.
Key Handbags Market Challenge in Brazil
Backpacks and duffel bags replacing handbags are one of the factors limiting the Brazilian handbags market growth. The Millennial generation and other travelers, who take short trips and prefer lightweight luggage that can hold more garments, have a great demand for backpacks and duffle bags. The primary drivers of the expansion of the backpack industry are the rise in tourism, a desire for fashionable travel bags, a rise in business travelers' foreign travel, a rise in urbanization, and a shift in lifestyles. Thus, increased demand for backpacks as a way to protect laptops and tablets from harm while traveling is anticipated to challenge market expansion during the forecast period.
This handbags market in Brazil analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the handbags market in Brazil as a part of the global apparel, accessories, and luxury goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the handbags market in Brazil during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the handbags market in Brazil encompasses successful business strategies deployed by the key vendors. The handbags market in Brazil is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the 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.
The report handbags market in Brazil contains a comprehensive market knowledge and in-depth vendor landscape in addition to an analysis of the key vendors.
Our report provides extensive information on the value chain analysis for the Brazilian handbags market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and the evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
To gain further insights on the market contribution of various segments Request PDF Sample
The handbags market share growth in Brazil by the offline segment will be significant during the forecast period. Offline retail channels, such as convenience stores, hypermarkets and supermarkets, and factory outlets, are the most popular and preferred channels for the sales of a wide range of handbags, as they provide a vast assortment of products under a single roof. Moreover, customers prefer buying consumer goods, including handbags, from offline channels, as they can choose their desired brand after checking the products physically. Such factors in the offline segment will boost market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the handbags market size in Brazil and actionable market insights on the post-COVID-19 impact on each segment.
|
Handbags Market Scope in Brazil |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2021 |
|
Forecast period |
2022-2026 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 9.26% |
|
Market growth 2022-2026 |
$834.68 million |
|
Market structure |
Fragmented |
|
YoY growth (%) |
8.19 |
|
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
|
Key companies profiled |
Arezzo COAREZZO INDUSTRIA E COMERCIO SA, ARTIFACT, BAGGU, Botkier, Brynn Capella Inc., Capri Holdings Ltd, CHANEL Ltd., Clare V, Dolce and Gabbana Srl, Etsy Inc., GiGi New York, Giorgio Armani S.p.A., Hermes International SA, LVMH Moet Hennessy Louis Vuitton SE, Mulberry Group Plc, Olivela Inc., Prada Spa, Shiraleah Chicago, Tapestry Inc., and Tory Burch LLC. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the 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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Distribution Channel
6 Market Segmentation by Product Type
7 Customer Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
