Tote Bags Market Boosting the Growth By 2026 with Global Top Players -Michael Kors, Guangzhou Yaxin Leather Corporation Limited, XIAMEN NOVELBAG CO., LTD., BIDBI, H&M Group, Blivus Bags

Tote bags are large bags with two parallel handles that are stitched from the sides of the bag. The dimension of a typical tote bag is such that its length is more than its breadth.

Market Dynamics

Factors contributing towards growth of the global tote market during the forecast period include, growing female employment, availability of variants, ban against the use of plastic bags, and increased spending power in terms of fashion. According to International Labor Organization’s report on Women at Work: Trends 2016, the share of women in wage and salaried work more than doubled, from 26.3% in 1995 to 55.3% in 2015. Rising population of working women will contribute towards the increasing sales of tote bags during the forecast period.

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Key Players

Key players operating in the global tote bags market include Michael Kors, Guangzhou Yaxin Leather Corporation Limited, XIAMEN NOVELBAG CO., LTD., BIDBI, H&M Group, Blivus Bags, and others.

Market Outlook

In terms of material type, the canvas and cloth tote bags are comparatively cheaper than leather and faux leather tote bags. Therefore, the demand for canvas and cloth tote bags is expected to rise during the forecast period.

Among application segment, business & travel tote bags and laptop tote bags are expected to have an increasing market share during the forecast period. As the female employment is rising, the demand for tote bags will increase due to its multipurpose usage. Along with storing a laptop, other essential items can be carried in this bag due to its large size. Therefore, women are expected to prefer this multipurpose tote bag over other bags.

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Market Taxonomy

On the basis of material, the global tote bags market is segmented into:

• Canvas
• Fabric
• Leather
• Faux Leather
• Jute
• Cloth
• Others

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