Dublin, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The "Global Wallets Market 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The wallets market is experiencing growth due to various factors such as increased urbanization, the trend of minimalism, and a rising preference for personalized products. Customized wallets have become particularly popular, contributing significantly to market growth. This report provides a comprehensive analysis of the wallets market, offering insights into product trends, competition, vendor analysis, and growth opportunities across various regions.
Key Highlights:
- Market Growth: The wallets market is expected to grow by USD 11,122.08 million during the period from 2022 to 2027, with a Compound Annual Growth Rate (CAGR) of 10.01%. This growth is attributed to factors such as the wide availability of wallets on online channels, increased advertising and marketing campaigns by vendors, and the trend of urbanization and minimalism.
- Segmentation: The market is segmented by product type into conventional wallets and smart-connected wallets. It is also categorized by distribution channels, including online and offline. The geographical landscape includes regions such as APAC, North America, Europe, South America, and the Middle East and Africa.
- Customization: The growing preference for customized wallets is a significant driver of market growth. Consumers are increasingly seeking personalized products to meet their unique style and functionality requirements.
- Subscription and Rental Models: The emergence of subscription and rental models in the wallets market is expected to drive demand. These models provide consumers with flexibility and access to a variety of wallet styles.
- Eco-Friendly Wallets: The rising popularity of eco-friendly wallets aligns with the global focus on sustainability. Consumers are opting for wallets made from environmentally friendly materials.
- Online Shopping: The prominence of online shopping platforms has contributed to the growth of the wallets market. Consumers can easily browse and purchase wallets online, expanding the market's reach.
- Vendor Analysis: The report provides a detailed analysis of leading vendors in the wallets market. Some of the key vendors mentioned include BAGGIT, Bellroy Pty Ltd., Burberry Group Plc, Fossil Group Inc., Hermes International SA, Kering SA, Montblanc, Ralph Lauren Corp., and others.
- Market Environment: The report offers insights into the current market scenario, including trends, drivers, challenges, and the competitive landscape.
- SWOT Analysis: A SWOT analysis of key vendors is included in the report, helping companies strategize and leverage growth opportunities.
Competitive Portfolio
- BAGGIT
- Bellroy Pty Ltd.
- Buffalo Jackson Trading Co.
- Burberry Group Plc
- Calleen Cordero Designs Inc.
- Da Milano Leathers Pvt. Ltd.
- Ekster Wallets BV
- Etienne Aigner AG
- Fossil Group Inc.
- Hermes International SA
- Hidesign
- Kenneth Cole Productions Inc.
- Kering SA
- Matt and Nat SE
- Montblanc
- Mulberry Group Plc
- Ralph Lauren Corp.
- Tory Burch LLC
- Zazzle Inc.
- Furla Spa
This report offers valuable information for market participants, including fashion accessory companies, retailers, and investors, looking to understand and capitalize on trends and opportunities within the wallets market. It provides a comprehensive overview of market dynamics, growth drivers, and challenges, supporting informed decision-making in this dynamic industry.
For more information about this report visit https://www.researchandmarkets.com/r/5cuy90
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