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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