Dublin, July 24, 2024 (GLOBE NEWSWIRE) -- The "Handbags - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Handbags is estimated at US$63.0 Billion in 2023 and is projected to reach US$96.8 Billion by 2030, growing at a CAGR of 6.3% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The rise of e-commerce has revolutionized the handbag sales landscape, with online platforms becoming increasingly crucial for reaching younger, tech-savvy consumers. Despite this shift to digital, physical stores continue to play a vital role, particularly for customers who value the tactile shopping experience. Retailers are enhancing in-store experiences to remain competitive.
Innovations in product design, such as the introduction of smart handbags with integrated technology features, and the increasing demand for eco-friendly options highlight the industry`s adaptation to consumer preferences for functionality, style, and sustainability.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Hermes International SA, Kering SA, LVMH Moet Hennessy - Louis Vuitton, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Tote Bag segment, which is expected to reach US$41.6 Billion by 2030 with a CAGR of a 7.2%. The Clutch Bag segment is also set to grow at 6.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $16.5 Billion in 2023, and China, forecasted to grow at an impressive 9.6% CAGR to reach $22.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Handbags Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 268 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $63 Billion |
| Forecasted Market Value (USD) by 2030 | $96.8 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Handbags - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
MARKET TRENDS & DRIVERS
- Luxury Market Trends Propel Demand for Premium Handbag Brands
- Influence of Fast Fashion on the Rapid Turnover of Handbag Styles
- Growth of E-commerce and Online Shopping Expands Market Opportunities
- Trends in Consumer Customization and Personalization in Fashion Accessories
- Celebrity Endorsements and Influencer Marketing Drive Brand Visibility and Demand
- Technological Integration in Handbags & Rise of Wearable Tech Handbags, an Interesting Trend to Watch out for!
- Consumers Shift Towards Vegan and Eco-Friendly Materials
- Impact of Counterfeiting on Brand Integrity and Market Dynamics
- Innovations in Materials and Manufacturing Techniques Propel Product Development
- Manufacturers Pay More Attention to Gender Fluid Fashion and Unisex Handbag Designs. Here's Why
FOCUS ON SELECT PLAYERS (Total 231 Featured)
- Hermes International SA
- Kering SA
- LVMH Moet Hennessy - Louis Vuitton
- Prada SpA
- Tapestry, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ut7s4n
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