UK - Handbags Market by Product, Distribution Channel and Material - Forecast and Analysis 2024-2028

Published: Oct 2023 Pages: 150 SKU: IRTNTR74341

UK - Handbags Market 2024-2028 

The UK - handbags market size is estimated to grow at a CAGR of 3.96% between 2023 and 2028. The market size is forecast to increase by USD 612.15 million. The growth of the market depends on several factors such as the expansion of the retail and online distribution landscape in the UK, the growing purchase of handbags by millennials and working women, and the increasing fashion consciousness among consumers leading to spending on personal accessories.

This UK handbags market report extensively covers market segmentation by product (tote, clutch, satchels, shoulder bag, mini bags, and others), distribution channel (offline and online), and material (leather, cotton, and others). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 - 2022.

What will be the Size of the UK Handbags Market During the Forecast Period?

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UK Handbags Market: Key Drivers, Trends and Challenges

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key UK Handbags Market Driver

One of the key factors driving the UK handbags market growth is the expansion of the retail and online distribution landscape in the UK. There is an increasing use of handbags by common people across the world, including the UK, to carry personal items. As a result, this is encouraging vendors to increase their production and distribution across the UK. In addition, distributors play an important role in the supply chain of several consumer goods, including handbags.

Moreover, with changes in purchasing behavior and buying practices of consumers, the retail landscape is evolving across the world, including the UK. In addition, consumers are shifting their purchasing preference from conventional stores to online channels for buying all kinds of consumer goods, including handbags. Furthermore, these online platforms provide convenience and value for money, which are essential parameters for consumers. Hence, such factors are positively impacting the UK - handbags market. therefore, it is expected to drive the UK handbags market during the forecast period.

Key UK Handbags Market Trends

A key factor shaping the UK handbags market growth is the design and material innovation leading to product premiumization. Several market players are constantly reforming and introducing new designs and patterns due to growing competition and customer demand arising from rapid changes in the fashion industry. In addition, customers seek luxury handbags for formal (especially luxury handbags) and casual purposes (such as metal and precious stone studded handbags). Therefore, to meet such evolving customer needs, vendors regularly expand their product lines.

Moreover, the demand for handbags that are designed and made of metals such as gold and silver and studded with precious stones such as diamonds is high. For example, Hermes offers a Lindy 30 bag that is made of very soft Niloticus alligator leather and is equipped with gold-plated hardware. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the UK handbags market growth during the forecast period.

Key UK Handbags Market Challenge

Long product replacement cycles for handbags are one of the key challenges hindering the UK handbags market growth. A majority of customers across the world including UK, seek value for money, especially while buying expensive products such as premium and high-quality handbags. In addition, the purchase decision of consumers depends on product quality, durability, and branding.

Moreover, handbags manufactured by popular global brands, such as Burberry, Tapestry, LVMH, and Hermes, are made of raw materials of superior quality. In addition, they are durable and highly efficient and, hence, do not require frequent replacement. Therefore, the high cost and long lifespan of such handbags may negatively impact the UK - handbags market. Hence, such factors can hinder the UK handbags market growth during the forecast period.

UK Handbags Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

UK Handbags Market Customer Landscape

Who are the Major UK Handbags Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

ALDO Group Inc: The company offers handbags such as ameyaax women white cross body, balkiix women white satchel, landenassi women black top handle, and nanadi women pink satchel.

The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

  • Aspinal of London Ltd.
  • Bugatti GmbH
  • Burberry Group Plc
  • Chanel Ltd.
  • Crew Clothing Co. Ltd.
  • Dolce and Gabbana SRL
  • Fossil Group Inc.
  • GOYARD ST HONORE
  • Guess Inc.
  • Hermes International SA
  • Kering SA
  • LAUNER LONDON LTD.
  • Michael Kors Switzerland GmbH
  • MPLG Ltd.
  • Mulberry Group Plc
  • Prada S.p.A
  • Radley and Co Ltd.
  • The Cambridge Satchel Co. Ltd
  • The Hettie Trading Company Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

What is the Largest-Growing Segments in the UK Handbags Market?

The tote segment is estimated to witness significant growth during the forecast period. This segment comprises large handbags that have two parallel straps or handles, which allow them to be hung from the shoulder In addition, a tote bag is preferably used for shopping purposes. Furthermore, several market players offer a wide variety of tote bags. For example,  the Van Gogh Handbag and Vintage Oleg Cassini Large handbag are some of the featured tote bags offered by Tapestry to its customers across the UK.

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The tote segment was the largest and valued at USD 831.30 million in 2018. Moreover, the tote bags available in the market are mostly made of leather, fabric (such as canvas), jute, or nylon. In addition, fashion-conscious customers usually look for unique styles, designs, and colors in tote bags, which provide an aesthetic appeal along with a modern look. Furthermore, factors such as the increasing demand for tote bags among the working population, the growing demand for tote travel bags at airport retail outlets, the rising preference for affordable luxury tote bags, the increasing availability of personalized and customized tote bags are fuelling the growth of this segment which in turn drives the UK handbags market growth during the forecast period.

Segment Overview

The UK handbags market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

  •  Product Outlook
    • Tote
    • Clutch
    • Satchels
    • Shoulder bag
    • Mini bags and others
  • Distribution Channel Outlook
    • Offline
    • Online
  • Material Outlook
    • Leather
    • Cotton
    • Others

UK Handbags Market Scope

Report Coverage

Details

Page number

150

Base year

2023

Historic period

 2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 3.96%

Market Growth 2024-2028

USD 612.15 million

Market structure

Fragmented

YoY growth 2023-2024(%)

3.61

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

ALDO Group Inc., Aspinal of London Ltd., Bugatti GmbH, Burberry Group Plc, Chanel Ltd., Crew Clothing Co. Ltd., Dolce and Gabbana SRL, Fossil Group Inc., GOYARD ST HONORE, Guess Inc., Hermes International SA, Kering SA, LAUNER LONDON LTD., Michael Kors Switzerland GmbH, MPLG Ltd., Mulberry Group Plc, Prada S.p.A, Radley and Co Ltd., The Cambridge Satchel Co. Ltd, and The Hettie Trading Company Ltd.

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.

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What are the Key Data Covered in this UK Handbags Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2024 and 2028
  • Precise estimation of the market and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market across the UK
  • A thorough analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of market companies

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Material
    • Exhibit 07: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 08: Parent market
    • Exhibit 09: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 10: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 11: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 12: Chart on UK - Market size and forecast 2023-2028 ($ million)
      • Exhibit 13: Data Table on UK - Market size and forecast 2023-2028 ($ million)
      • Exhibit 14: Chart on UK: Year-over-year growth 2023-2028 (%)
      • Exhibit 15: Data Table on UK: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Handbags market in UK 2018 - 2022
      • Exhibit 16: Historic Market Size – Data Table on handbags market in UK 2018 - 2022 ($ million)
    • 4.2 Product Segment Analysis 2018 - 2022
      • Exhibit 17: Historic Market Size – Product Segment 2018 - 2022 ($ million)
    • 4.3 Distribution Channel Segment Analysis 2018 - 2022
      • Exhibit 18: Historic Market Size – Distribution Channel Segment 2018 - 2022 ($ million)
    • 4.4 Material Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – Material Segment 2018 - 2022 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 20: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 21: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 22: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 23: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 24: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 25: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 26: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 27: Chart on Product - Market share 2023-2028 (%)
      • Exhibit 28: Data Table on Product - Market share 2023-2028 (%)
    • 6.2 Comparison by Product
      • Exhibit 29: Chart on Comparison by Product
      • Exhibit 30: Data Table on Comparison by Product
    • 6.3 Tote - Market size and forecast 2023-2028
      • Exhibit 31: Chart on Tote - Market size and forecast 2023-2028 ($ million)
      • Exhibit 32: Data Table on Tote - Market size and forecast 2023-2028 ($ million)
      • Exhibit 33: Chart on Tote - Year-over-year growth 2023-2028 (%)
      • Exhibit 34: Data Table on Tote - Year-over-year growth 2023-2028 (%)
    • 6.4 Clutch - Market size and forecast 2023-2028
      • Exhibit 35: Chart on Clutch - Market size and forecast 2023-2028 ($ million)
      • Exhibit 36: Data Table on Clutch - Market size and forecast 2023-2028 ($ million)
      • Exhibit 37: Chart on Clutch - Year-over-year growth 2023-2028 (%)
      • Exhibit 38: Data Table on Clutch - Year-over-year growth 2023-2028 (%)
    • 6.5 Satchels - Market size and forecast 2023-2028
      • Exhibit 39: Chart on Satchels - Market size and forecast 2023-2028 ($ million)
      • Exhibit 40: Data Table on Satchels - Market size and forecast 2023-2028 ($ million)
      • Exhibit 41: Chart on Satchels - Year-over-year growth 2023-2028 (%)
      • Exhibit 42: Data Table on Satchels - Year-over-year growth 2023-2028 (%)
    • 6.6 Shoulder bag - Market size and forecast 2023-2028
      • Exhibit 43: Chart on Shoulder bag - Market size and forecast 2023-2028 ($ million)
      • Exhibit 44: Data Table on Shoulder bag - Market size and forecast 2023-2028 ($ million)
      • Exhibit 45: Chart on Shoulder bag - Year-over-year growth 2023-2028 (%)
      • Exhibit 46: Data Table on Shoulder bag - Year-over-year growth 2023-2028 (%)
    • 6.7 Mini bags and others - Market size and forecast 2023-2028
      • Exhibit 47: Chart on Mini bags and others - Market size and forecast 2023-2028 ($ million)
      • Exhibit 48: Data Table on Mini bags and others - Market size and forecast 2023-2028 ($ million)
      • Exhibit 49: Chart on Mini bags and others - Year-over-year growth 2023-2028 (%)
      • Exhibit 50: Data Table on Mini bags and others - Year-over-year growth 2023-2028 (%)
    • 6.8 Market opportunity by Product
      • Exhibit 51: Market opportunity by Product ($ million)
      • Exhibit 52: Data Table on Market opportunity by Product ($ million)

    7 Market Segmentation by Distribution Channel

    • 7.1 Market segments
      • Exhibit 53: Chart on Distribution Channel - Market share 2023-2028 (%)
      • Exhibit 54: Data Table on Distribution Channel - Market share 2023-2028 (%)
    • 7.2 Comparison by Distribution Channel
      • Exhibit 55: Chart on Comparison by Distribution Channel
      • Exhibit 56: Data Table on Comparison by Distribution Channel
    • 7.3 Offline - Market size and forecast 2023-2028
      • Exhibit 57: Chart on Offline - Market size and forecast 2023-2028 ($ million)
      • Exhibit 58: Data Table on Offline - Market size and forecast 2023-2028 ($ million)
      • Exhibit 59: Chart on Offline - Year-over-year growth 2023-2028 (%)
      • Exhibit 60: Data Table on Offline - Year-over-year growth 2023-2028 (%)
    • 7.4 Online - Market size and forecast 2023-2028
      • Exhibit 61: Chart on Online - Market size and forecast 2023-2028 ($ million)
      • Exhibit 62: Data Table on Online - Market size and forecast 2023-2028 ($ million)
      • Exhibit 63: Chart on Online - Year-over-year growth 2023-2028 (%)
      • Exhibit 64: Data Table on Online - Year-over-year growth 2023-2028 (%)
    • 7.5 Market opportunity by Distribution Channel
      • Exhibit 65: Market opportunity by Distribution Channel ($ million)
      • Exhibit 66: Data Table on Market opportunity by Distribution Channel ($ million)

    8 Market Segmentation by Material

    • 8.1 Market segments
      • Exhibit 67: Chart on Material - Market share 2023-2028 (%)
      • Exhibit 68: Data Table on Material - Market share 2023-2028 (%)
    • 8.2 Comparison by Material
      • Exhibit 69: Chart on Comparison by Material
      • Exhibit 70: Data Table on Comparison by Material
    • 8.3 Leather - Market size and forecast 2023-2028
      • Exhibit 71: Chart on Leather - Market size and forecast 2023-2028 ($ million)
      • Exhibit 72: Data Table on Leather - Market size and forecast 2023-2028 ($ million)
      • Exhibit 73: Chart on Leather - Year-over-year growth 2023-2028 (%)
      • Exhibit 74: Data Table on Leather - Year-over-year growth 2023-2028 (%)
    • 8.4 Cotton - Market size and forecast 2023-2028
      • Exhibit 75: Chart on Cotton - Market size and forecast 2023-2028 ($ million)
      • Exhibit 76: Data Table on Cotton - Market size and forecast 2023-2028 ($ million)
      • Exhibit 77: Chart on Cotton - Year-over-year growth 2023-2028 (%)
      • Exhibit 78: Data Table on Cotton - Year-over-year growth 2023-2028 (%)
    • 8.5 Others - Market size and forecast 2023-2028
      • Exhibit 79: Chart on Others - Market size and forecast 2023-2028 ($ million)
      • Exhibit 80: Data Table on Others - Market size and forecast 2023-2028 ($ million)
      • Exhibit 81: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 82: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 8.6 Market opportunity by Material
      • Exhibit 83: Market opportunity by Material ($ million)
      • Exhibit 84: Data Table on Market opportunity by Material ($ million)

    9 Customer Landscape

    • 9.1 Customer landscape overview
      • Exhibit 85: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 86: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 87: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 88: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 89: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 90: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 91: Matrix on vendor position and classification
            • 12.3 ALDO Group Inc.
              • Exhibit 92: ALDO Group Inc. - Overview
              • Exhibit 93: ALDO Group Inc. - Product / Service
              • Exhibit 94: ALDO Group Inc. - Key offerings
            • 12.4 Aspinal of London Ltd.
              • Exhibit 95: Aspinal of London Ltd. - Overview
              • Exhibit 96: Aspinal of London Ltd. - Product / Service
              • Exhibit 97: Aspinal of London Ltd. - Key offerings
            • 12.5 Burberry Group Plc
              • Exhibit 98: Burberry Group Plc - Overview
              • Exhibit 99: Burberry Group Plc - Business segments
              • Exhibit 100: Burberry Group Plc - Key offerings
              • Exhibit 101: Burberry Group Plc - Segment focus
            • 12.6 Chanel Ltd.
              • Exhibit 102: Chanel Ltd. - Overview
              • Exhibit 103: Chanel Ltd. - Product / Service
              • Exhibit 104: Chanel Ltd. - Key offerings
            • 12.7 Crew Clothing Co. Ltd.
              • Exhibit 105: Crew Clothing Co. Ltd. - Overview
              • Exhibit 106: Crew Clothing Co. Ltd. - Product / Service
              • Exhibit 107: Crew Clothing Co. Ltd. - Key offerings
            • 12.8 Dolce and Gabbana SRL
              • Exhibit 108: Dolce and Gabbana SRL - Overview
              • Exhibit 109: Dolce and Gabbana SRL - Product / Service
              • Exhibit 110: Dolce and Gabbana SRL - Key offerings
            • 12.9 Fossil Group Inc.
              • Exhibit 111: Fossil Group Inc. - Overview
              • Exhibit 112: Fossil Group Inc. - Business segments
              • Exhibit 113: Fossil Group Inc. - Key offerings
              • Exhibit 114: Fossil Group Inc. - Segment focus
            • 12.10 GOYARD ST HONORE
              • Exhibit 115: GOYARD ST HONORE - Overview
              • Exhibit 116: GOYARD ST HONORE - Product / Service
              • Exhibit 117: GOYARD ST HONORE - Key offerings
            • 12.11 Guess Inc.
              • Exhibit 118: Guess Inc. - Overview
              • Exhibit 119: Guess Inc. - Business segments
              • Exhibit 120: Guess Inc. - Key offerings
              • Exhibit 121: Guess Inc. - Segment focus
            • 12.12 Hermes International SA
              • Exhibit 122: Hermes International SA - Overview
              • Exhibit 123: Hermes International SA - Business segments
              • Exhibit 124: Hermes International SA - Key offerings
              • Exhibit 125: Hermes International SA - Segment focus
            • 12.13 Kering SA
              • Exhibit 126: Kering SA - Overview
              • Exhibit 127: Kering SA - Business segments
              • Exhibit 128: Kering SA - Key offerings
              • Exhibit 129: Kering SA - Segment focus
            • 12.14 Michael Kors Switzerland GmbH
              • Exhibit 130: Michael Kors Switzerland GmbH - Overview
              • Exhibit 131: Michael Kors Switzerland GmbH - Product / Service
              • Exhibit 132: Michael Kors Switzerland GmbH - Key offerings
            • 12.15 Mulberry Group Plc
              • Exhibit 133: Mulberry Group Plc - Overview
              • Exhibit 134: Mulberry Group Plc - Business segments
              • Exhibit 135: Mulberry Group Plc - Key offerings
              • Exhibit 136: Mulberry Group Plc - Segment focus
            • 12.16 Prada S.p.A
              • Exhibit 137: Prada S.p.A - Overview
              • Exhibit 138: Prada S.p.A - Product / Service
              • Exhibit 139: Prada S.p.A - Key offerings
            • 12.17 Radley and Co Ltd.
              • Exhibit 140: Radley and Co Ltd. - Overview
              • Exhibit 141: Radley and Co Ltd. - Product / Service
              • Exhibit 142: Radley and Co Ltd. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 143: Inclusions checklist
                • Exhibit 144: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 145: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 146: Research methodology
                • Exhibit 147: Validation techniques employed for market sizing
                • Exhibit 148: Information sources
              • 13.5 List of abbreviations
                • Exhibit 149: List of abbreviations

              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

              • 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

              DATA 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

              REPORT 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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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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