Luxury Handbags Market Expected to Grow USD 16.90 Billion | Design and Materials Innovation Leading to Product Premiumization to Drive Market Growth | Technavio

The Luxury Handbags Market report provides global update, market size and forecasts, trends, growth drivers and challenges, and vendor analysis.

Material design and innovation leading to product premiumization as one of the key market growth drivers. Further, the luxury handbags market is segmented by distribution channel (offline and online) and by geography (Europe, North AmericaACPA, South Americaand MEA).

This report presents a detailed picture of the market through study, synthesis and summation of data from multiple sources by analysis of key parameters.

The luxury handbags market covers the following areas:

Luxury handbags market size
Luxury Handbags Market Forecast
Luxury handbags market analysis

Supplier Landscape

The structure of the luxury handbags market is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market. Some of the major providers are:

  • Burberry Group Plc
  • CHANEL Ltd.
  • Financial Company Richemont SA
  • Dolce & Gabbana S.r.l.
  • Hermes International
  • Kering S.A.
  • LVMH Moet Hennessy Louis Vuitton SE
  • PRADA Group
  • Ralph Lauren Corp.
  • Tapestry Inc.

Learn more about the vendor landscape of the market highlights a comprehensive list of vendors and their offerings, Request a free sample report.

Key Market Dynamics:

market engine

  • Design and material innovation leading to product premiumization
  • Strong influence of celebrity endorsements on purchase decision
  • Increase in spending by international tourists

Market challenges

  • Presence of counterfeit products
  • Rising labor costs and fluctuating raw material prices
  • Strict government regulations for sourcing raw materials such as leather

Find additional information on various other market drivers and trends mentioned in our Sample FREE Report.

Overview of Suppliers-

Sellers in the luxury handbag market are investing heavily in building infrastructure suitable for manufacturing luxury handbags. They differentiate themselves based on product quality and offer various quality-oriented products. The price differentiation between these vendors is high due to almost similar product offerings and increasing competition.

Burberry Group Plc – Offers a wide range of luxury handbags such as Lola bags, Olympia bags, pocket bags among others.

CHANEL Ltd.- Offers a wide range of luxury handbags such as classic handbags, 2.55 handbags, Chanel 19 handbags, among others.

Dolce & Gabbana SRL – Offers a wide range of luxury handbags such as strobe calfskin handbags, Sicily bags among others.

Find additional highlights on vendors and their product offerings. Download a free sample report

Geographic Market Analysis

32% of market growth will come from Europe during the forecast period. Francethe UK and Italy are the main markets for luxury handbags in Europe. Handbags Market growth in UK will be faster than market growth in North America and South America regions.

In addition, countries like the United States, China, France, Italythe UK and Japan are the key market for the luxury handbags market in Europe.

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Luxury Handbags Market Scope

Report cover

Details

Page number

120

base year

2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate at a CAGR of 5.60%

Market Growth 2021-2025

$16.90 billion

Market structure

Fragmented

Annual growth (%)

3.02

Regional analysis

Europe, North America, APAC, South America and MEA

Successful market contribution

Europe at 32%

Main consumer countries

United States, China, France, Italy, United Kingdom and Japan

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Burberry Group Plc, CHANEL Ltd., Compagnie Financière Richemont SA, Dolce & Gabbana Srl, Hermes International, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, PRADA Group, Ralph Lauren Corp. and Tapestry Inc.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents

Abstract

Market landscape

  • Market ecosystem
  • Value chain analysis

Market sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market Outlook: Predictions for 2020 – 2025

Five forces analysis

  • The bargaining power of buyers
  • Bargaining power of suppliers
  • The threat of new entrants
  • The threat of substitutes
  • Threat of rivalry
  • Market state

Market segmentation by distribution channel

  • Market segments
  • Comparison by distribution channel
  • Offline – Market size and forecast 2020-2025
  • Online – Market size and forecast 2020-2025
  • Market opportunity by distribution channel

Customer landscape

Geographic landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe – Market size and forecast 2020-2025
  • North America – Market size and forecast 2020-2025
  • APAC – Market size and forecast 2020-2025
  • South America – Market size and forecast 2020-2025
  • MEA – Market size and forecast 2020-2025
  • Main leading countries
  • Market Opportunity by Geography
  • Market factors
  • Market challenges
  • Market trends

Supplier Landscape

  • Supplier Landscape
  • Landscape disturbance

Vendor analysis

  • Suppliers Covered
  • Positioning on the supplier market
  • Burberry Group Plc
  • CHANEL Ltd.
  • Financial Company Richemont SA
  • Dolce & Gabbana S.r.l.
  • Hermes International
  • Kering S.A.
  • LVMH Moet Hennessy Louis Vuitton SE
  • PRADA Group
  • Ralph Lauren Corp.
  • Tapestry Inc.

appendix

  • Report scope
  • Currency conversion rates for the US dollar
  • Research methodology
  • Abreviations list

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