Press release
Tote Bags Market Detail Analysis focusing on Key Players Michael Kors, Guangzhou Yaxin Leather Corporation Limited, XIAMEN NOVELBAG CO., LTD., BIDBI, H&M Group, Blivus Bags, and others.
tote bags
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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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.
On the basis of distribution channel, online store is expected to be the dominant segment during the forecast period. Online stores aid in easy shopping from any place and are convenient as compared to offline stores. According to the Associated Chambers of Commerce and Industry in India (ASSOCHAM), an industry trade association, the e-commerce market accounted for US$ 38.5 billion in 2017 and is projected to exceed US$ 50 billion by 2025.
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 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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