Luxury Handbags Market by Distribution Channel and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR44325
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The luxury handbags market has the potential to grow by USD 16.90 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 5.60%.

This luxury handbags market 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 market segmentation by distribution channel (offline and online) and geography (Europe, North America, APAC, South America, and MEA). The luxury handbags market report also offers information on several market vendors, including Burberry Group Plc, CHANEL Ltd., Compagnie Financiere Richemont SA, Dolce & Gabbana Srl, Hermes International, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, PRADA Group, Ralph Lauren Corp., and Tapestry Inc. among others.

What will the Luxury Handbags Market Size be in 2021?

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Luxury Handbags Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The design and material innovation leading to product premiumization is notably driving the luxury handbags market growth, although factors such as presence of counterfeit products may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the luxury handbags industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

This luxury handbags market 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 2021-2025.

Who are the Major Luxury Handbags Market Vendors?

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

 

  • Burberry Group Plc
  • CHANEL Ltd.
  • Compagnie Financiere Richemont SA
  • Dolce & Gabbana Srl
  • Hermes International
  • Kering SA
  • LVMH Moet Hennessy Louis Vuitton SE
  • PRADA Group
  • Ralph Lauren Corp.
  • Tapestry Inc.

 

This statistical study of the luxury handbags market encompasses successful business strategies deployed by the key vendors. The luxury handbags market 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 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 luxury handbags market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Luxury Handbags Market?

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32% of the market’s growth will originate from Europe during the forecast period. France, the UK, and Italy are the key markets for luxury handbags in Europe. Market growth in this region will be faster than the growth of the market in North American and South American regions.

This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Distribution Channel Segments in the Luxury Handbags Market?

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The luxury handbags market share growth by the offline segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the luxury handbags market size and actionable market insights on post COVID-19 impact on each segment.

 

Luxury Handbags Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.60%

Market growth 2021-2025

$ 16.90 billion

Market structure

Fragmented

YoY growth (%)

3.02

Regional analysis

Europe, North America, APAC, South America, and MEA

Performing market contribution

Europe at 32%

Key consumer countries

US, China, France, Italy, UK, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Burberry Group Plc, CHANEL Ltd., Compagnie Financiere Richemont SA, Dolce & Gabbana Srl, Hermes International, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, PRADA Group, Ralph Lauren Corp., and Tapestry Inc.

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 the forecast period

Customization purview

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

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

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

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

    Market Segmentation by Distribution channel

    • Market segments
    • Comparison by Distribution channel
    • Offline - Market size and forecast 2020-2025
    • Online - Market size and forecast 2020-2025
    • Market opportunity by Distribution channel

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • Europe - Market size and forecast 2020-2025
    • North America - Market size and forecast 2020-2025
    • APAC - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Burberry Group Plc
    • CHANEL Ltd.
    • Compagnie Financiere Richemont SA
    • Dolce & Gabbana Srl
    • Hermes International
    • Kering SA
    • LVMH Moet Hennessy Louis Vuitton SE
    • PRADA Group
    • Ralph Lauren Corp.
    • Tapestry Inc.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • 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.

    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
    Technavio

    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
    Technavio

    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 luxury handbags market growth will increase by $-0.17 billion during 2019-2024.
    The luxury handbags market is expected to grow at a CAGR of -0.05% during 2019-2024.
    Technavio has segmented the luxury handbags market by distribution channel (Offline and Online) and geographic (Europe, North America, APAC, MEA, and South America).
    Burberry Group Plc, CHANEL Ltd., Compagnie Financière Richemont SA, Dolce & Gabbana Srl, Hermès International, Kering SA, LVMH Moet Hennessy - Louis Vuitton, PRADA Group, Ralph Lauren Corp., Tapestry Inc. are a few of the key vendors in the luxury handbags market.
    APAC will register the highest growth rate of -335.29% among the other regions. Therefore, the luxury handbags market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the luxury handbags market growth are:
    • Design and material innovation leading to product premiumization
    The luxury handbags market vendors should focus on grabbing business opportunities from the offline segment as it accounted for the largest market share in the base year.
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