Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
Related Topics
Cycling Sunglass Market Size Apron Racks Market Size Fire Insurance Market Size Betavoltaic Device Market SizeGlobal Handbag Market Size to Worth USD 119.69 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Handbag Market Size is Expected to Grow from USD 70.02 Billion in 2023 to USD 119.69 Billion by 2033, Growing at a CAGR of 5.51%during the forecast period 2023-2033.
Browse key industry insights spread across 220 pages with 110 Market data tables and figures & charts from the report on the Global Handbag Market Size, Share, and COVID-19 Impact Analysis, By Raw Material (Leather and Fabric), By Product (Tote Bag and Clutch), By Distribution Channel (Offline and Online), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
Handbags are versatile fashion accessories that combine appearance and significance by carrying personal belongings such as phones, wallets, cosmetics, and other essentials. Their uses fit beyond simple utility they are status and fashion markers that let people show off their individuality and go well with their outfits. The market has witnessed a rise in demand for products manufactured from eco-friendly materials including organic textiles, recycled leather, and bio-fabricated solutions, which is indicative of a greater understanding of sustainability challenges. As a result of the desire to own exclusive and exclusive products that inspire feelings of exclusivity and history as well as to prevent waste, pre-owned luxury handbags, and vintage designs are becoming more and more popular. Working women's needs are met by the accessories that are in high demand due to this increased engagement. The many demands of contemporary work life have led to the evolution of handbags from accessories to necessary equipment. However, the market for handbags has been significantly impacted by the availability of raw materials.
The leather segment is anticipated to hold the largest market share of the global handbag market through the projected timeframe.
Based on the raw material, the handbag market is classified into leather and fabric. Among these, the leather segment is anticipated to hold the largest market share of the global handbag market through the projected timeframe. A primary driver of the demand for leather handbags is the increasing preference of consumers for luxury goods and accessories. The primary raw material used to make high-end purses and accessories is leather. Since more working women are prepared to invest in leather handbags to create a varied wardrobe, consumer expenditure on luxury goods is on the rise in both developed and emerging nations.
The tote bag segment is predicted to hold the highest market share of the global handbag market through the projected timeframe.
Based on the product, the handbag market is classified into tote bag and clutch. Among these, the tote bag segment is predicted to hold the highest market share of the global handbag market through the projected timeframe. Customers prefer tote bags because of their size and composition. Compared to other kinds of purses, tote bags are bigger. Customers find it easier to transport essentials to workplaces, academic institutions, and other locations with these backpacks. Sales of tote bags are also being driven by the increasing appeal of Korean fashion and aesthetics among younger consumers.
The online segment is expected to grow at the fastest CAGR in the global handbag market through the projected period.
Based on the distribution channel, the handbag market is classified into offline and online. Among these, the online segment is expected to grow at the fastest CAGR in the global handbag market through the projected period. Online purchasing is becoming more and more popular among younger consumers as a result of service digitization. To serve a wider range of customers, businesses in the industry continually improve their digital shops and client databases. To boost traffic for both online and offline distribution channels, they are also using social media sites such as WeChat, Pinterest, Instagram, Twitter, and Sina Weibo for consumer interaction.
North America is expected to hold the largest share of the handbag market through the forecast period.
North America is expected to hold the largest share of the handbag market through the forecast period. The increasing demand for eco-friendly and sustainable handbags is driving the handbag software market in North America. People are becoming more aware of the way their purchases affect the environment, which is driving up demand for handbags made of vegan leather, recycled materials, and materials produced responsibly. Brands and retailers are investing in sophisticated online platforms and digital marketing techniques to respond to this demand.
Asia Pacific is predicted to grow at the fastest CAGR of the handbag market over the forecast period. The demand for handbags in Asia Pacific has increased due to the expansion of online shopping portals and consumer purchasing power. Spending on personal goods and accessories as well as growing fashion consciousness have been acknowledged as key drivers of industry expansion.
Company Profiling
Major key players in the handbag market include Hermès International S.A., Louis Vuitton, Michael Kors, Fossil Group, Inc., Guccio Gucci S.p.A., Prada S.p.A., Burberry Group Plc, Tapestry, Inc., Chanel, Compagnie Financière Richemont SA, and Others.
Recent Developments
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the handbag market based on the below-mentioned segments:
Global Handbag Market, By Raw Material
Global Handbag Market, By Product
Global Handbag Market, By Distribution Channel
Global Handbag Market, By Regional Analysis
Mar 2025 - The Global Passive Optical Network Market Size is Expected to Grow from USD 13.5 Billion in 2023 to USD 53.7 Billion by 2033, at a CAGR of 14.81% during the forecast period 2023-2033.
Mar 2025 - The Global Chemical Anchor Market Size is Expected to Grow from USD 1.370 Billion in 2023 to USD 2.01 Billion by 2033, at a CAGR of 5.38% during the forecast period 2023-2033.
Mar 2025 - The Global Antimicrobial Medical Device Coatings Market Size is Expected to Grow from USD 12.43 Billion in 2023 to USD 14.09 Billion by 2033, at a CAGR of 13.35% during the forecast period 2023-2033.
We have received your message and would like to thank you for writing to us. If your inquiry is urgent, please use the telephone number listed below to talk to one of our staff members. Otherwise, we will reply by email as soon as possible.
+1 303 800 4326 +91 9561448932 emailsales@sphericalinsights.com
