Tote Bags Market by Distribution Channel, and Geography - Forecast and Analysis 2021-2025

  • Published: Feb 2021
  • Pages: 120
  • SKU: IRTNTR70261
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The tote bags market size has the potential to grow by USD 5.85 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 5.54%. 

This report provides a detailed analysis of the market by distribution channel (offline and online), geography (Europe, APAC, North America, MEA, and South America), and key vendors. 

Market Overview

Tote-Bags-Market-Market-Size-2020-2025

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Market Competitive Analysis

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

 

  • Burberry Group Plc
  • Capri Holdings Ltd.
  • Compagnie Financière Richemont SA
  • Kering SA
  • LVMH Moet Hennessy - Louis Vuitton
  • PRADA Group
  • PVH Corp.
  • Samsonite International SA
  • Tapestry Inc.
  • VF Corp.

 

The tote bags market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as increased consumer fashion consciousness and spending on personal goods to achieve growth opportunities. However, factors such as fluctuating operational costs including labor, logistics, and raw material costs will challenge the growth of the market participants. 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 tote bags market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This tote bags market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Tote Bags Market: Key Drivers and Trends

  • Consumers are becoming increasingly fashion-conscious that has increased consumer spending on personal goods including tote bags.
  • The growing fashion consciousness can be attributed to factors such as modern lifestyles and increased smartphone penetration. 
  • With the growing number of working women, the spending power has also increased. 
  • The increasing spending power along with the proliferation of online shopping portals have further boosted the demand for luxury or premium varieties of tote bags. 
  • The increasing fashion consciousness and expenditure on personal goods is identified as a major factor responsible for the growth of the tote bags market size.
  • The popularity of airport retailing is growing as luxury and premium products are available at lower prices in duty-free airport retail stores. 
  • Travelers prefer to buy such products from airport retail stores rather than local retail stores.
  • The growth of the airport retail stores is further enhanced by factors such as delayed flights, last-minute shopping, and the need to check in two hours prior to departure time.
  • Many major airports have also undergone renovation to accommodate retail stores and shopping centers. 
  • The growth of airline retail stores is one of the major tote bags market trends that will significantly boost the demand and drive the growth of the market

 

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Tote Bags Market: Segmentation by Geography

Tote-Bags-Market-Market-Share-by-Region-2020-2025

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32% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for tote bags in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The growing urbanization is one of the prime factors that will facilitate the tote bags market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Tote Bags Market: Segmentation by Distribution Channel

Tote-Bags-Market-Market-Share-by-Distribution Channel-2020-2025

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The growing retail industry and the establishment of numerous retail outlets are driving sales in the offline segment. These outlets offer customers a wide range of tote bags to choose from and provide them with the convenience of finding everything under a single roof. Factors such as discounted prices, a comfortable shopping experience, and attractive shelf displays encourage customers to buy varied types of leather handbags based on type, brand, and quality. Owing to these factors 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 tote bags market size.

 

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Tote Bags Market: Key Highlights of the Report for 2021-2025

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

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Tote Bags Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6%

Market growth 2021-2025

$ 5.85 billion

Market structure

Fragmented

YoY growth (%)

4.87

Regional analysis

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

Performing market contribution

APAC at 32%

Key consumer countries

US, China, France, UK, Germany, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Burberry Group Plc, Capri Holdings Ltd., Compagnie Financière Richemont SA, Kering SA, LVMH Moet Hennessy - Louis Vuitton, PRADA Group, PVH Corp., Samsonite International SA, Tapestry Inc., and VF Corp.

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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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

    • Five forces summary
    • 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

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • Europe - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - 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
      • Capri Holdings Ltd.
      • Compagnie Financière Richemont SA
      • Kering SA
      • LVMH Moet Hennessy - Louis Vuitton
      • PRADA Group
      • PVH Corp.
      • Samsonite International SA
      • Tapestry Inc.
      • VF Corp.

      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
      Interested in this report?
      Get your FREE sample now!
      The tote bags market growth will increase by $5851.52 million during 2020-2025.
      The tote bags market is expected to grow at a CAGR of 5.54% during 2020-2025.
      Technavio has segmented the tote bags market by distribution channel (Offline and Online) and geographic (Europe, APAC, North America, MEA, and South America).
      Burberry Group Plc, Capri Holdings Ltd., Compagnie Financière Richemont SA, Kering SA, LVMH Moet Hennessy - Louis Vuitton, PRADA Group, PVH Corp., Samsonite International SA, Tapestry Inc., VF Corp. are a few of the key vendors in the tote bags market.
      APAC will register the highest growth rate of 31.50% among the other regions. Therefore, the tote bags market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • US
      • China
      • France
      • UK
      • Germany
      • Japan
      The key factors driving the tote bags market growth are:
      • Personalization and customization of luxury tote bags
      • Increased demand at airport retail stores
      The tote bags market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
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