1. What is the projected Compound Annual Growth Rate (CAGR) of the Handbag Market?
The projected CAGR is approximately 8.2%.
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Handbag MarketHandbag Market by Product Type [Tote, Clutch, Satchel, and Others (Hobo, Body Cross, Saddle), by Raw Material (Leather, Fabric), by End-User (Men, Women), by Forecast 2025-2033
The Handbag Market size was valued at USD 47.57 USD Billion in 2023 and is projected to reach USD 82.59 USD Billion by 2032, exhibiting a CAGR of 8.2 % during the forecast period. A handbag also known as a purse is a bag small in size and is used in holding personal belongings. It comes as a necessity in fashion, mainly because not only is it functional, but it is also stylish. Tote, shoulder, satchel, clutch and crossbody bags are the most common classifications of handbags due to their versatility in usage and occasions. Typically, the handbags come with one or more pockets, zippers or catches for closure, straps for carry and the material may be leather, canvas or artificial fabrics. Some of the crucial accessories that are held in handbags include wallets, phones, makeup kits, and keys among other items making handbags essential accessories in our daily routine while travelling or attending a special occasion. It has the advantage of space and convenience, in that utensils and other items required for use are well arranged and within reach.
By Product Type:
By Raw Material:
By End-User:
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| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 8.2% from 2019-2033 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 8.2%.
Key companies in the market include Coach IP Holdings LLC(New York, U.S.), Louis Vuitton Malletier (Paris, France), Chanel Ltd(Paris, France), Guccio Gucci S.p.A.(Florence, Italy), Prada S.p.A. (Milan, Italy), Fendi(Rome, Italy), Burberry(London,U.K.), Hermès International S.A.(Paris, France), Kate Spade(New York,U.S.), Calvin Klein Inc.(New York, U.S.).
The market segments include Product Type [Tote, Clutch, Satchel, and Others, Raw Material, End-User.
The market size is estimated to be USD 47.57 USD Billion as of 2022.
Rising Growth of Urbanization to Aid Market Development.
N/A
Substitute Products' Strong Market Presence to Hamper Industry Growth.
Coach's acquisition of Kate Spade: Coach purchased Kate Spade in 2017, creating a global luxury fashion powerhouse. Gucci's collaboration with Dapper Dan: Gucci collaborated with American designer Dapper Dan in 2021 to launch an exclusive handbag capsule collection. Louis Vuitton's launch of "200 Trunks, 200 Visionaries": Louis Vuitton partnered with 200 artists and visionaries to create a limited-edition collection of customized trunks in 2023.
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The market size is provided in terms of value, measured in USD Billion and volume, measured in Million Tonnes.
Yes, the market keyword associated with the report is "Handbag Market," which aids in identifying and referencing the specific market segment covered.
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