The luxury handbag market is estimated to be US$ 25,642.20 million in 2024. The market is projected to cross a valuation of US$ 47,237.70 million by 2034, growing at a CAGR of 6.30% from 2024 to 2034.
Luxury Handbag Market, Analysis, and Insights
Attributes | Details |
---|---|
Luxury Handbag Market Value for 2024 | US$ 25,642.20 million |
Projected Market Value for 2034 | US$ 47,237.70 million |
Value-based CAGR, 2024 to 2034 | 6.30% |
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The luxury handbag market is expected to increase at a rate exceeding the historical trend between 2019 and 2023. The market was valued at US$ 24,168.00 million in 2023. The growing requirement for sustainability contributed to the market's rapid expansion. The increasing preference for sustainable luxury goods also contributed to the market’s growth during the historical period.
Attribute | Details |
---|---|
Historical market valuation, 2023 | US$ 24,168.00 million |
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The luxury handbag market is divided into two categories: product type and material type. The leaders' domination in the segments is also noticeable.
Attributes | Details |
---|---|
Top Product Type | Tote Bag |
Market Share in 2024 | 27.40% |
The tote bag segment is projected to hold a market share of 27.40% over the forecast period. Tote bags provide enough of storage capacity, making them excellent for shopping, business, travel, and everyday usage. Their simple appearance and functionality appeal to diverse consumers across age groups and lifestyles.
The tote bags have become a canvas for innovative designs and partnerships with artists and designers, attracting fashion-forward customers. As a result, increased demand for fashionable and functional tote bags will drive segment expansion.
Attributes | Details |
---|---|
Top Material Type | Leather |
Market Share in 2024 | 38.50% |
The leather segment is expected to increase with a market share of 23.60% over the projected period. The popularity of leather is growing due to its features such as durability, strength, resilience, and flexibility. Leather is a high-quality material utilized in luxury handbags.
Leather bags are available in a variety of styles, colours, and sizes. These bags are appropriate for various uses, including travel and shopping. Leather is a material that never goes out of style, and the demand for leather handbags is increasing around the world.
The market's depth has increased over the years. However, certain regions account for a significant portion of the market share.
The market is dominated by North America, Europe, and Asia Pacific. Growing trends in Europe and North America have increased sales of luxury handbags. The growing demand for sustainable products in Asia Pacific contributes to the region's market growth.
Countries | CAGR (2024 to 2034) |
---|---|
United States | 6.20% |
India | 6.70% |
Germany | 6.40% |
China | 6.60% |
Australia | 6.90% |
The luxury handbag industry is predicted to rise more in the next years, owing to changing customer preferences, technology advancements, and the expanding reach of luxury brands. Brands that can adapt to these trends and capitalize on emerging opportunities will thrive in this volatile environment.
Companies are also utilizing numerous growth tactics, such as enhanced product innovation, lowering the costs of luxury products, and enhancing the durability and attractiveness of products to cater to the expanding consumer demand.
Recent Developments in the Market
In 2024, the size of the luxury handbag market is estimated to be US$ 25,642 million.
The increasing need for luxurious, unique, and personalized products worldwide is one of the major trends in the market.
The market is expected to progress at a remarkable CAGR of 6.30% from 2024 to 2034.
By 2034, the size of the market is forecasted to have reached US$ 47,237.70 million.
Louis Vuitton, Kering, Hermes International, Chanel, Prada S.p.A, Ralph Lauren, PVH Corp. are some of the prominent players in the market.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product, 2024 to 2034 5.3.1. Handbags 5.3.1.1. Shoulder Bags 5.3.1.2. Satchel Bags 5.3.1.3. Handheld Bags 5.3.1.4. Sling Bags 5.3.1.5. Tote bags 5.3.1.6. Hobo Bags 5.3.1.7. Others 5.3.2. Backpacks 5.3.3. Wallets 5.3.4. Others 5.4. Y-o-Y Growth Trend Analysis By Product, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Product, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Material 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Material, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Material, 2024 to 2034 6.3.1. Cotton 6.3.2. Leather 6.3.3. Nylon 6.3.4. Synthetic 6.4. Y-o-Y Growth Trend Analysis By Material, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Material, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-user 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End-user, 2019 to 2023 7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End-user, 2024 to 2034 7.3.1. Men 7.3.2. Women 7.4. Y-o-Y Growth Trend Analysis By End-user, 2019 to 2023 7.5. Absolute $ Opportunity Analysis By End-user, 2024 to 2034 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Distribution Channel 8.1. Introduction / Key Findings 8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Distribution Channel, 2019 to 2023 8.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Distribution Channel, 2024 to 2034 8.3.1. Online 8.3.1.1. Company-owned Websites 8.3.1.2. E-commerce Websites 8.3.2. Offline 8.3.2.1. Supermarkets/Hypermarkets 8.3.2.2. Specialty Stores 8.3.2.3. Others 8.4. Y-o-Y Growth Trend Analysis By Distribution Channel, 2019 to 2023 8.5. Absolute $ Opportunity Analysis By Distribution Channel, 2024 to 2034 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 9.1. Introduction 9.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023 9.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034 9.3.1. North America 9.3.2. Latin America 9.3.3. Western Europe 9.3.4. Eastern Europe 9.3.5. South Asia and Pacific 9.3.6. East Asia 9.3.7. Middle East and Africa 9.4. Market Attractiveness Analysis By Region 10. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. USA 10.2.1.2. Canada 10.2.2. By Product 10.2.3. By Material 10.2.4. By End-user 10.2.5. By Distribution Channel 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product 10.3.3. By Material 10.3.4. By End-user 10.3.5. By Distribution Channel 10.4. Key Takeaways 11. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Brazil 11.2.1.2. Mexico 11.2.1.3. Rest of Latin America 11.2.2. By Product 11.2.3. By Material 11.2.4. By End-user 11.2.5. By Distribution Channel 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product 11.3.3. By Material 11.3.4. By End-user 11.3.5. By Distribution Channel 11.4. Key Takeaways 12. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. Germany 12.2.1.2. UK 12.2.1.3. France 12.2.1.4. Spain 12.2.1.5. Italy 12.2.1.6. Rest of Western Europe 12.2.2. By Product 12.2.3. By Material 12.2.4. By End-user 12.2.5. By Distribution Channel 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product 12.3.3. By Material 12.3.4. By End-user 12.3.5. By Distribution Channel 12.4. Key Takeaways 13. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. Poland 13.2.1.2. Russia 13.2.1.3. Czech Republic 13.2.1.4. Romania 13.2.1.5. Rest of Eastern Europe 13.2.2. By Product 13.2.3. By Material 13.2.4. By End-user 13.2.5. By Distribution Channel 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product 13.3.3. By Material 13.3.4. By End-user 13.3.5. By Distribution Channel 13.4. Key Takeaways 14. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. India 14.2.1.2. Bangladesh 14.2.1.3. Australia 14.2.1.4. New Zealand 14.2.1.5. Rest of South Asia and Pacific 14.2.2. By Product 14.2.3. By Material 14.2.4. By End-user 14.2.5. By Distribution Channel 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Product 14.3.3. By Material 14.3.4. By End-user 14.3.5. By Distribution Channel 14.4. Key Takeaways 15. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 15.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 15.2.1. By Country 15.2.1.1. China 15.2.1.2. Japan 15.2.1.3. South Korea 15.2.2. By Product 15.2.3. By Material 15.2.4. By End-user 15.2.5. By Distribution Channel 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Product 15.3.3. By Material 15.3.4. By End-user 15.3.5. By Distribution Channel 15.4. Key Takeaways 16. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 16.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 16.2.1. By Country 16.2.1.1. GCC Countries 16.2.1.2. South Africa 16.2.1.3. Israel 16.2.1.4. Rest of MEA 16.2.2. By Product 16.2.3. By Material 16.2.4. By End-user 16.2.5. By Distribution Channel 16.3. Market Attractiveness Analysis 16.3.1. By Country 16.3.2. By Product 16.3.3. By Material 16.3.4. By End-user 16.3.5. By Distribution Channel 16.4. Key Takeaways 17. Key Countries Market Analysis 17.1. USA 17.1.1. Pricing Analysis 17.1.2. Market Share Analysis, 2023 17.1.2.1. By Product 17.1.2.2. By Material 17.1.2.3. By End-user 17.1.2.4. By Distribution Channel 17.2. Canada 17.2.1. Pricing Analysis 17.2.2. Market Share Analysis, 2023 17.2.2.1. By Product 17.2.2.2. By Material 17.2.2.3. By End-user 17.2.2.4. By Distribution Channel 17.3. Brazil 17.3.1. Pricing Analysis 17.3.2. Market Share Analysis, 2023 17.3.2.1. By Product 17.3.2.2. By Material 17.3.2.3. By End-user 17.3.2.4. By Distribution Channel 17.4. Mexico 17.4.1. Pricing Analysis 17.4.2. Market Share Analysis, 2023 17.4.2.1. By Product 17.4.2.2. By Material 17.4.2.3. By End-user 17.4.2.4. By Distribution Channel 17.5. Germany 17.5.1. Pricing Analysis 17.5.2. Market Share Analysis, 2023 17.5.2.1. By Product 17.5.2.2. By Material 17.5.2.3. By End-user 17.5.2.4. By Distribution Channel 17.6. UK 17.6.1. Pricing Analysis 17.6.2. Market Share Analysis, 2023 17.6.2.1. By Product 17.6.2.2. By Material 17.6.2.3. By End-user 17.6.2.4. By Distribution Channel 17.7. France 17.7.1. Pricing Analysis 17.7.2. Market Share Analysis, 2023 17.7.2.1. By Product 17.7.2.2. By Material 17.7.2.3. By End-user 17.7.2.4. By Distribution Channel 17.8. Spain 17.8.1. Pricing Analysis 17.8.2. Market Share Analysis, 2023 17.8.2.1. By Product 17.8.2.2. By Material 17.8.2.3. By End-user 17.8.2.4. By Distribution Channel 17.9. Italy 17.9.1. Pricing Analysis 17.9.2. Market Share Analysis, 2023 17.9.2.1. By Product 17.9.2.2. By Material 17.9.2.3. By End-user 17.9.2.4. By Distribution Channel 17.10. Poland 17.10.1. Pricing Analysis 17.10.2. Market Share Analysis, 2023 17.10.2.1. By Product 17.10.2.2. By Material 17.10.2.3. By End-user 17.10.2.4. By Distribution Channel 17.11. Russia 17.11.1. Pricing Analysis 17.11.2. Market Share Analysis, 2023 17.11.2.1. By Product 17.11.2.2. By Material 17.11.2.3. By End-user 17.11.2.4. By Distribution Channel 17.12. Czech Republic 17.12.1. Pricing Analysis 17.12.2. Market Share Analysis, 2023 17.12.2.1. By Product 17.12.2.2. By Material 17.12.2.3. By End-user 17.12.2.4. By Distribution Channel 17.13. Romania 17.13.1. Pricing Analysis 17.13.2. Market Share Analysis, 2023 17.13.2.1. By Product 17.13.2.2. By Material 17.13.2.3. By End-user 17.13.2.4. By Distribution Channel 17.14. India 17.14.1. Pricing Analysis 17.14.2. Market Share Analysis, 2023 17.14.2.1. By Product 17.14.2.2. By Material 17.14.2.3. By End-user 17.14.2.4. By Distribution Channel 17.15. Bangladesh 17.15.1. Pricing Analysis 17.15.2. Market Share Analysis, 2023 17.15.2.1. By Product 17.15.2.2. By Material 17.15.2.3. By End-user 17.15.2.4. By Distribution Channel 17.16. Australia 17.16.1. Pricing Analysis 17.16.2. Market Share Analysis, 2023 17.16.2.1. By Product 17.16.2.2. By Material 17.16.2.3. By End-user 17.16.2.4. By Distribution Channel 17.17. New Zealand 17.17.1. Pricing Analysis 17.17.2. Market Share Analysis, 2023 17.17.2.1. By Product 17.17.2.2. By Material 17.17.2.3. By End-user 17.17.2.4. By Distribution Channel 17.18. China 17.18.1. Pricing Analysis 17.18.2. Market Share Analysis, 2023 17.18.2.1. By Product 17.18.2.2. By Material 17.18.2.3. By End-user 17.18.2.4. By Distribution Channel 17.19. Japan 17.19.1. Pricing Analysis 17.19.2. Market Share Analysis, 2023 17.19.2.1. By Product 17.19.2.2. By Material 17.19.2.3. By End-user 17.19.2.4. By Distribution Channel 17.20. South Korea 17.20.1. Pricing Analysis 17.20.2. Market Share Analysis, 2023 17.20.2.1. By Product 17.20.2.2. By Material 17.20.2.3. By End-user 17.20.2.4. By Distribution Channel 17.21. GCC Countries 17.21.1. Pricing Analysis 17.21.2. Market Share Analysis, 2023 17.21.2.1. By Product 17.21.2.2. By Material 17.21.2.3. By End-user 17.21.2.4. By Distribution Channel 17.22. South Africa 17.22.1. Pricing Analysis 17.22.2. Market Share Analysis, 2023 17.22.2.1. By Product 17.22.2.2. By Material 17.22.2.3. By End-user 17.22.2.4. By Distribution Channel 17.23. Israel 17.23.1. Pricing Analysis 17.23.2. Market Share Analysis, 2023 17.23.2.1. By Product 17.23.2.2. By Material 17.23.2.3. By End-user 17.23.2.4. By Distribution Channel 18. Market Structure Analysis 18.1. Competition Dashboard 18.2. Competition Benchmarking 18.3. Market Share Analysis of Top Players 18.3.1. By Regional 18.3.2. By Product 18.3.3. By Material 18.3.4. By End-user 18.3.5. By Distribution Channel 19. Competition Analysis 19.1. Competition Deep Dive 19.1.1. Furla S.p.A. 19.1.1.1. Overview 19.1.1.2. Product Portfolio 19.1.1.3. Profitability by Market Segments 19.1.1.4. Sales Footprint 19.1.1.5. Strategy Overview 19.1.1.5.1. Marketing Strategy 19.1.1.5.2. Product Strategy 19.1.1.5.3. Channel Strategy 19.1.2. GANNI A/S 19.1.2.1. Overview 19.1.2.2. Product Portfolio 19.1.2.3. Profitability by Market Segments 19.1.2.4. Sales Footprint 19.1.2.5. Strategy Overview 19.1.2.5.1. Marketing Strategy 19.1.2.5.2. Product Strategy 19.1.2.5.3. Channel Strategy 19.1.3. Giorgio Armani S.p.A. (Armani) 19.1.3.1. Overview 19.1.3.2. Product Portfolio 19.1.3.3. Profitability by Market Segments 19.1.3.4. Sales Footprint 19.1.3.5. Strategy Overview 19.1.3.5.1. Marketing Strategy 19.1.3.5.2. Product Strategy 19.1.3.5.3. Channel Strategy 19.1.4. Loeffler Randall 19.1.4.1. Overview 19.1.4.2. Product Portfolio 19.1.4.3. Profitability by Market Segments 19.1.4.4. Sales Footprint 19.1.4.5. Strategy Overview 19.1.4.5.1. Marketing Strategy 19.1.4.5.2. Product Strategy 19.1.4.5.3. Channel Strategy 19.1.5. LVMH Moët Hennessy Louis Vuitton SE 19.1.5.1. Overview 19.1.5.2. Product Portfolio 19.1.5.3. Profitability by Market Segments 19.1.5.4. Sales Footprint 19.1.5.5. Strategy Overview 19.1.5.5.1. Marketing Strategy 19.1.5.5.2. Product Strategy 19.1.5.5.3. Channel Strategy 19.1.6. Macy's Inc. 19.1.6.1. Overview 19.1.6.2. Product Portfolio 19.1.6.3. Profitability by Market Segments 19.1.6.4. Sales Footprint 19.1.6.5. Strategy Overview 19.1.6.5.1. Marketing Strategy 19.1.6.5.2. Product Strategy 19.1.6.5.3. Channel Strategy 19.1.7. MAUS Freres SA (The Lacoste Group) 19.1.7.1. Overview 19.1.7.2. Product Portfolio 19.1.7.3. Profitability by Market Segments 19.1.7.4. Sales Footprint 19.1.7.5. Strategy Overview 19.1.7.5.1. Marketing Strategy 19.1.7.5.2. Product Strategy 19.1.7.5.3. Channel Strategy 19.1.8. Michael Kors Holdings Limited 19.1.8.1. Overview 19.1.8.2. Product Portfolio 19.1.8.3. Profitability by Market Segments 19.1.8.4. Sales Footprint 19.1.8.5. Strategy Overview 19.1.8.5.1. Marketing Strategy 19.1.8.5.2. Product Strategy 19.1.8.5.3. Channel Strategy 19.1.9. MILLY NY 19.1.9.1. Overview 19.1.9.2. Product Portfolio 19.1.9.3. Profitability by Market Segments 19.1.9.4. Sales Footprint 19.1.9.5. Strategy Overview 19.1.9.5.1. Marketing Strategy 19.1.9.5.2. Product Strategy 19.1.9.5.3. Channel Strategy 19.1.10. Tapestry, Inc. (Coach, Inc.) 19.1.10.1. Overview 19.1.10.2. Product Portfolio 19.1.10.3. Profitability by Market Segments 19.1.10.4. Sales Footprint 19.1.10.5. Strategy Overview 19.1.10.5.1. Marketing Strategy 19.1.10.5.2. Product Strategy 19.1.10.5.3. Channel Strategy 19.1.11. PVH Corp. (Calvin Klein) 19.1.11.1. Overview 19.1.11.2. Product Portfolio 19.1.11.3. Profitability by Market Segments 19.1.11.4. Sales Footprint 19.1.11.5. Strategy Overview 19.1.11.5.1. Marketing Strategy 19.1.11.5.2. Product Strategy 19.1.11.5.3. Channel Strategy 20. Assumptions & Acronyms Used 21. Research Methodology
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