Tote Bags market is Expected To Boost The Global market At a Cagr Of Around 4.52% : Michael Kors, Guangzhou Yaxin Leather Corporation Limited,

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.

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.

However, other cheaper substitutes such as backpacks, laptop bags, handbags, and paper bags can be a threat to the global tote bags market in the near future.

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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

On the basis of application, the global tote bags market is segmented into:
Shopping tote
Laptop tote
Sports tote
Business and Travel tote
Others

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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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.

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