Market Overview:
The global luxury handbag market is expected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030. The market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into canvas, leatherette, and corium. The leatherette segment is expected to grow at a higher CAGR than other segments during the forecast period owing to its properties such as durability and resistance to scratches. On the basis of application, the market is divided into age 15-25 years old, age 25-50 years old older than 50 years old), and other applications. Age 15-25 years old segment dominates this category with highest share in terms of revenue contribution in 2017 owing young population who are fashion conscious across different geographies followed by age 25-50 years old group which constitutes major chunk due their purchasing power parity (PPP) across different regions worldwide . However , over time demand for luxury handbags will shift towards older people especially those who belong o high net worth individuals (HNWI) as they have more disposable income available for discretionary spending on luxury products such as handbags .On th e basis o f regi on , th e globa l luxur y ha ndbag ma rke t i s segmen ted int o North America , Latin America Europe Asia Pacific an d Middle East & Africa .
Product Definition:
A luxury handbag refers to a bag that is made with high-quality materials and typically has a higher price tag than other bags. Often, luxury handbags are considered status symbols, as they are often associated with wealth and privilege. Many women consider owning at least one luxury handbag a must, as they can be used for both everyday and special occasions.
Canvas:
Canvas is a type of fabric that is made from cotton or other fibrous material and is used to make bags, backpacks, briefcases, and suitcases. It has high tensile strength as compared to leather and PVC and can be woven into any shape. Canvas bags are lightweight; however they have high water resistance as compared to leather or PVC bags.
Leatherette:
Leatherette is a type of synthetic leather, which is produced from the artificial binding material known as polymer. It has high resistance to oil and chemicals, along with excellent durability. Leatherette can be used for the manufacturing of handbags, portfolios, briefcases and laptop cases. The product also finds application in seat covers and car upholstery industry due to its softness & texture features.
Application Insights:
The other application segment includes the age group of 15-25, 25-50 and above 50 years. The application of luxury handbags in this age group is significantly higher than that of Old Than 50 and Other. In terms of revenue, the Age 15-25 segment dominated the market with a share of over 30% in 2017 owing to increasing spending power among millennials globally. This generation was raised on a luxurious lifestyle hence they are more inclined towards expensive products such as luxury handbags.
The young population also has different spending patterns from their parents¢â‚¬â„¢ generation due to changing economic situations across countries including China, India and America where education costs have increased exponentially along with living expenses which makes it difficult for this generation to spend lavishly like their parents did at old ages when money was abundant for them.
Regional Analysis:
Europe dominated the global market in 2017. The region is expected to continue its dominance over the forecast period. Europe has been witnessing a steady increase in demand for luxury handbags since past few years on account of increasing consumer disposable income, changing lifestyle and high standard of living.
Asia Pacific is anticipated to be the fastest-growing regional market from 2018 to 2030 owing to growing population, improving economic conditions and rising standards of living especially among middle class population groups in developing countries such as China and India are expected drive product demand over next eight years.
Growth Factors:
- Increasing disposable income of consumers: The growth in the luxury handbag market is mainly attributed to the increase in disposable income of consumers, especially in developing countries. This has led to an increase in demand for high-end luxury handbags.
- Changing lifestyle and fashion trends: Another key factor driving the growth of the luxury handbag market is changing lifestyle and fashion trends, which has resulted in an increased demand for designer handbags.
- Growing popularity of online shopping: The growing popularity of online shopping has also contributed to the growth of the luxury handbag market, as it offers a convenient and easy way to purchase these products.
- Rising number of tourists: The rising number of tourists is also contributing to the growth of the global luxury handbag market as they are spending more on purchasing these products while travelling abroad.
Scope Of The Report
Report Attributes
Report Details
Report Title
Luxury Handbag Market Research Report
By Type
Canvas, Leatherette, Corium
By Application
Age 15-25, Age 25-50, Old Than 50, Other
By Companies
Dior, LVMH, Coach, Kering, Prada, Michael Kors, Hermes, Chanel, Richemont Group, Kate Spade, Burberry, Tory Burch, Septwolves, Fion, Goldlion, Wanlima, Phillip Lim, The Chanel, Givenchy, LV
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Luxury Handbag Market Report Segments:
The global Luxury Handbag market is segmented on the basis of:
Types
Canvas, Leatherette, Corium
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Age 15-25, Age 25-50, Old Than 50, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Dior
- LVMH
- Coach
- Kering
- Prada
- Michael Kors
- Hermes
- Chanel
- Richemont Group
- Kate Spade
- Burberry
- Tory Burch
- Septwolves
- Fion
- Goldlion
- Wanlima
- Phillip Lim
- The Chanel
- Givenchy
- LV
Highlights of The Luxury Handbag Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Canvas
- Leatherette
- Corium
- By Application:
- Age 15-25
- Age 25-50
- Old Than 50
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Luxury Handbag Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A luxury handbag is a type of bag that is typically high-quality and expensive. Luxury handbags can be made from a variety of materials, including leather, suede, and silk. They are often decorated with intricate details or features that make them stand out from the crowd.
Some of the major companies in the luxury handbag market are Dior, LVMH, Coach, Kering, Prada, Michael Kors, Hermes, Chanel, Richemont Group, Kate Spade, Burberry, Tory Burch, Septwolves, Fion, Goldlion, Wanlima, Phillip Lim, The Chanel, Givenchy, LV.
The luxury handbag market is expected to register a CAGR of 5.8%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Luxury Handbag Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Luxury Handbag Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Luxury Handbag Market - Supply Chain
4.5. Global Luxury Handbag Market Forecast
4.5.1. Luxury Handbag Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Luxury Handbag Market Size (000 Units) and Y-o-Y Growth
4.5.3. Luxury Handbag Market Absolute $ Opportunity
5. Global Luxury Handbag Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Luxury Handbag Market Size and Volume Forecast by Type
5.3.1. Canvas
5.3.2. Leatherette
5.3.3. Corium
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Luxury Handbag Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Luxury Handbag Market Size and Volume Forecast by Application
6.3.1. Age 15-25
6.3.2. Age 25-50
6.3.3. Old Than 50
6.3.4. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Luxury Handbag Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Luxury Handbag Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Luxury Handbag Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Luxury Handbag Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Luxury Handbag Demand Share Forecast, 2019-2029
9. North America Luxury Handbag Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Luxury Handbag Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Luxury Handbag Market Size and Volume Forecast by Application
9.4.1. Age 15-25
9.4.2. Age 25-50
9.4.3. Old Than 50
9.4.4. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Luxury Handbag Market Size and Volume Forecast by Type
9.7.1. Canvas
9.7.2. Leatherette
9.7.3. Corium
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Luxury Handbag Demand Share Forecast, 2019-2029
10. Latin America Luxury Handbag Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Luxury Handbag Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Luxury Handbag Market Size and Volume Forecast by Application
10.4.1. Age 15-25
10.4.2. Age 25-50
10.4.3. Old Than 50
10.4.4. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Luxury Handbag Market Size and Volume Forecast by Type
10.7.1. Canvas
10.7.2. Leatherette
10.7.3. Corium
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Luxury Handbag Demand Share Forecast, 2019-2029
11. Europe Luxury Handbag Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Luxury Handbag Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Luxury Handbag Market Size and Volume Forecast by Application
11.4.1. Age 15-25
11.4.2. Age 25-50
11.4.3. Old Than 50
11.4.4. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Luxury Handbag Market Size and Volume Forecast by Type
11.7.1. Canvas
11.7.2. Leatherette
11.7.3. Corium
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Luxury Handbag Demand Share, 2019-2029
12. Asia Pacific Luxury Handbag Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Luxury Handbag Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Luxury Handbag Market Size and Volume Forecast by Application
12.4.1. Age 15-25
12.4.2. Age 25-50
12.4.3. Old Than 50
12.4.4. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Luxury Handbag Market Size and Volume Forecast by Type
12.7.1. Canvas
12.7.2. Leatherette
12.7.3. Corium
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Luxury Handbag Demand Share, 2019-2029
13. Middle East & Africa Luxury Handbag Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Luxury Handbag Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Luxury Handbag Market Size and Volume Forecast by Application
13.4.1. Age 15-25
13.4.2. Age 25-50
13.4.3. Old Than 50
13.4.4. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Luxury Handbag Market Size and Volume Forecast by Type
13.7.1. Canvas
13.7.2. Leatherette
13.7.3. Corium
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Luxury Handbag Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Luxury Handbag Market: Market Share Analysis
14.2. Luxury Handbag Distributors and Customers
14.3. Luxury Handbag Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Dior
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. LVMH
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Coach
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Kering
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Prada
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Michael Kors
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Hermes
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Chanel
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Richemont Group
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Kate Spade
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Burberry
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Tory Burch
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Septwolves
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Fion
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Goldlion
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Wanlima
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Phillip Lim
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. The Chanel
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Givenchy
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. LV
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
