Global Luxury Handbag Market – Industry
Analysis and Forecast (2019-2026) by Type,
by Form, by Nature and Region.
Global Luxury Handbag Market was valued US$168.82 Bn in 2018 and is
estimated to reach US$XX Bn by 2026 at a CAGR of XX %.
Luxury handbag market is segmented by Type, by Material, by Distribution
channel & by Region. By type market is divided into Handbags, Backpack, &
wallet. Materials are classified into Cotton, Leather, Nylon, & Synthetic.
Distribution channel is splits into Online & Offline. Region wise the market is
divided into North America, Europe, Asia Pacific, Middle East & Africa and
Increasing disposable income in emerging economies and growing preference
for high end luxury branded goods are expected to be major drivers of growth
for the market. Rising in the number of working women and high net worth
individuals are also expected to add to the market’s expansion & growing
population of working women has driven the demand for luxury handbags.
Luxury handbag manufacturers are developing the latest women’s handbags
that are more functional, fortified with laptop sleeves, key holders, and mobile
holders and offer the feel of luxury, without compromising on quality. Easy
availability of cheaper dummy copies of premium luxury bags is resulting in
market fragmentation and is expected to be one of the biggest restraints of the
Based on type, handbags are mostly used by people. Handbag segment is further
divided into shoulder bags, satchel bags, handheld bags, sling bags, tote bags,
and hobo bags. Growing demand of high quality handbags products which are
stylish, crack proof, and better durability which is expected to increase growth
of handbags market. Additionally, continuous improvement in bucket bags,
satchel, and clutch handbags products is influencing growth of handbags market
from last few years.
On the basis of material, leather bags are widely used. Leather has been always
given the first preference over other materials