Press release
2024 Global Market Analysis of the Handbag Industry
Handbag Market Segmentation
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Report Coverage & Details:
• Forecast Period: 2024-2033
• Base Year: 2023
• Market Size In 2024: $63.07 billion
• Revenue Forecast In 2033: $81.4 billion
• CAGR: 6.6%
Global Handbag Market: Segmentation
The handbag market covered in this report is segmented -
1) By Product Type: Satchels, Clutches, Tote Bags, Bucket Bags
2) By Material: Leather, Fabric, Synthetic
3) By Distribution Channel: Online, Offline
4) By End User Analysis: Men Segment, Women Segment
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Handbag Market Report: Growth Drivers
The growing female workforce is anticipated to fuel the handbag market's growth in the future. The female workforce consists of women actively participating in employment across various sectors and professions. As more women enter the workforce and gain financial independence, their purchasing power increases, prompting them to invest in accessories like handbags to suit professional and social activities. For instance, in March 2023, UK Parliament, a government entity in the UK, reported that the female employment rate from October to December 2022 was 72.3%. Thus, the increasing female workforce is contributing to the handbag market's growth.
Key Developments:
Tapestry, Inc. Expands Luxury Portfolio With Purchase Of Capri Holdings Ltd
In August 2023, Tapestry, Inc.., a US-based luxury fashion holding company, acquired Capri Holdings Ltd. for $ 8.5 Billion. This acquisition combines six highly complementary brands with global reach, powered by Tapestry's data-rich customer engagement platform and diversified, direct-to-consumer operating model. Capri Holdings Ltd. is a US-based Company designing exceptional, innovative products that cover the full spectrum of fashion luxury categories.
Top Market Leader Included:
VIP Industries Ltd., Louis Vuitton Malletier, H and M Hennes and Mauritz GBC AB, Chanel Ltd., Hermès International S.A, Fendi, Guccio Gucci S.p.A, Coach IP Holdings LLC, Tapestry Inc., Victorias Secret and Co, Prada S.p.A, Michael Kors, Burberry, Calvin Klein Inc., ALDO Group Inc., Fossil Group Inc., Kate Spade, Zouk, Ted Baker, Loewe (LVMH), Zadig & Voltaire, BAGGIT, Tumi (Samsonite), Anya Hindmarch, Lino Perros, Da Milano Leathers Pvt. Ltd., Aranyani, Deeya International, MCM Worldwide, Proenza Schouler
Handbag Industry: Regional Landscape
North America was the largest region in the handbag market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the handbag market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the handbag market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
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What Does The Global Handbag Market Report Include?
1.Introduction
• Overview of the Handbag Market
• Comprehensive Analysis of Handbag Market
2. Handbag Market Drivers and Restraints
• Drivers and Restraints For Historic And Forecast Period
3. Handbag Market Segmentation
• By Drug Class
• By Indication
• By Distribution Channel
4. Competitive Landscape And Company Profiles In The Handbag Market
• Overview
• Products and Services
• Strategy
5. Handbag Market Regional And Country Analysis
• By Region
• By Country
6. Market Trends And Opportunities In Handbag Market
• Technological Advancements
• Emerging Trends
7. Handbag Market Future Outlook and Potential Analysis
• Growth Strategies
• New Opportunities
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