Product Code: GVR-2-68038-927-2
Handbag Market Growth & Trends:
The global handbag market is anticipated to reach USD 81.79 billion by 2030 and expand at a CAGR of 6.5% during the forecast period, according to a new report by Grand View Research, Inc. Rising disposable income allows consumers to invest in high-quality and designer handbags, elevating market demand. With improved purchasing power, individuals are drawn to premium brands and limited-edition collections. In addition, diverse product innovations, including customizable, eco-friendly, and multifunctional designs, caters to varying preferences and lifestyles. This variety enhances consumer engagement, encouraging frequent purchases and experimentation. The combination of financial capability and creative offerings positions this market for sustained growth and a broad customer base.
Urbanization fosters demand for handbags that blend practicality with style, suiting busy metropolitan lifestyles. Improved retail accessibility in urban hubs allows consumers to explore diverse options, while online platforms enhance convenience. E-commerce enables customers to browse vast collections, compare prices, and enjoy doorstep delivery, attracting a tech-savvy audience. This dual-channel presence bridges traditional and modern shopping preferences, driving sales of handbags and widening the market's geographical reach, particularly in urbanized regions.
With increasing exposure to global trends, fashion-conscious consumers seek handbags as an essential style statement. Handbags are no longer mere accessories. They symbolize status and identity, fueling their appeal. Moreover, the rise in gifting culture has positioned handbags as ideal presents for diverse occasions. The blend of style and utility makes them a preferred choice for both personal use and gifts. The evolving consumer behavior significantly contributes to the expanding handbag market.
Handbag Market Report Highlights:
- Based on product, the tote bag segment led the market with the largest share of 41.1% in 2024, attributed toits versatility, spacious design, and growing popularity among consumers.
- The satchel segment is set to be the fastest-growing segment from 2025 to 2030, driven byits ideal combination of style and practicality.
- Based on the distribution channel, the offline segment accounted for the largest revenue share in 2024 due toits personalized shopping experience and tangible product evaluation.
- The fabric segment is projected to grow at significant rate over the forecast period, propelled byits versatility, eco-friendliness, and lightweight appeal.
- North America dominated the global market with the largest share of 31.0% in 2024, owing tohigh disposable income, strong fashion awareness, and widespread brand loyalty.
- Asia Pacific is anticipated to be the fastest-growing region during the forecast period due to the surge in urbanization and growing preference for luxury and premium brands in the region.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Handbag Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Related Market Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint Analysis
- 3.4. Industry Analysis Tools
- 3.4.1. Porter's Five Forces Analysis
- 3.5. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
- 4.1. Demographic Analysis
- 4.2. Consumer Trends and Preferences
- 4.3. Factors Affecting Buying Decision
- 4.4. Consumer Product Adoption
- 4.5. Observations & Recommendations
Chapter 5. Handbag Market: Product Estimates & Trend Analysis
- 5.1. Handbag Market, By Product: Key Takeaways
- 5.2. Product Movement Analysis & Market Share, 2024 & 2030
- 5.3. Market Estimates & Forecasts, By Product, 2018 - 2030 (USD Million)
- 5.3.1. Tote Bag
- 5.3.1.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 5.3.2. Clutch
- 5.3.2.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 5.3.3. Satchel
- 5.3.3.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 5.3.4. Others
- 5.3.4.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
Chapter 6. Handbag Market: Distribution Channel Estimates & Trend Analysis
- 6.1. Handbag Market, By Distribution Channel: Key Takeaways
- 6.2. Distribution Channel Movement Analysis & Market Share, 2024 & 2030
- 6.3. Market Estimates & Forecasts, By Distribution Channel, 2018 - 2030 (USD Million)
- 6.3.1. Online
- 6.3.1.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 6.3.2. Offline
- 6.3.2.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
Chapter 7. Handbag Market: Material Estimates & Trend Analysis
- 7.1. Handbag Market, By Material: Key Takeaways
- 7.2. Material Movement Analysis & Market Share, 2024 & 2030
- 7.3. Market Estimates & Forecasts, By Material, 2018 - 2030 (USD Million)
- 7.3.1. Leather
- 7.3.1.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 7.3.2. Fabric
- 7.3.2.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 7.3.3. Others
- 7.3.3.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
Chapter 8. Handbag Market: Regional Estimates & Trend Analysis
- 8.1. Handbag Market: Regional Outlook
- 8.2. Regional Marketplaces: Key Takeaways
- 8.3. Market Estimates & Forecasts, By Region, 2018 - 2030 (USD Million)
- 8.3.1. North America
- 8.3.1.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 8.3.1.2. U.S.
- 8.3.1.2.1. Key Country Dynamics
- 8.3.1.2.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 8.3.2. Europe
- 8.3.2.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 8.3.2.2. Germany
- 8.3.2.2.1. Key Country Dynamics
- 8.3.2.2.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 8.3.2.3. U.K.
- 8.3.2.3.1. Key Country Dynamics
- 8.3.2.3.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 8.3.3. Asia Pacific
- 8.3.3.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 8.3.3.2. China
- 8.3.3.2.1. Key Country Dynamics
- 8.3.3.2.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 8.3.3.3. India
- 8.3.3.3.1. Key Country Dynamics
- 8.3.3.3.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 8.3.4. Latin America
- 8.3.4.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 8.3.4.2. Brazil
- 8.3.4.2.1. Key Country Dynamics
- 8.3.4.2.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 8.3.5. Middle East & Africa
- 8.3.5.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 8.3.5.2. South Africa
- 8.3.5.2.1. Key Country Dynamics
- 8.3.5.2.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
Chapter 9. Handbag Market: Competitive Analysis
- 9.1. Recent Developments & Impact Analysis, By Key Market Participants
- 9.2. Company Categorization
- 9.3. Participant's Overview
- 9.4. Financial Performance
- 9.5. Product Benchmarking
- 9.6. Company Market Share Analysis, 2024 (%)
- 9.7. Company Heat Map Analysis
- 9.8. Strategy Mapping
- 9.9. Company Profiles
- 9.9.1. Louis Vuitton
- 9.9.1.1. Company Overview
- 9.9.1.2. Financial Performance
- 9.9.1.3. Product Portfolios
- 9.9.1.4. Strategic Initiatives
- 9.9.2. Hermes
- 9.9.2.1. Company Overview
- 9.9.2.2. Financial Performance
- 9.9.2.3. Product Portfolios
- 9.9.2.4. Strategic Initiatives
- 9.9.3. Michael Kors
- 9.9.3.1. Company Overview
- 9.9.3.2. Financial Performance
- 9.9.3.3. Product Portfolios
- 9.9.3.4. Strategic Initiatives
- 9.9.4. Fossil Group
- 9.9.4.1. Company Overview
- 9.9.4.2. Financial Performance
- 9.9.4.3. Product Portfolios
- 9.9.4.4. Strategic Initiatives
- 9.9.5. Guccio Gucci S.p.A.
- 9.9.5.1. Company Overview
- 9.9.5.2. Financial Performance
- 9.9.5.3. Product Portfolios
- 9.9.5.4. Strategic Initiatives
- 9.9.6. PRADA
- 9.9.6.1. Company Overview
- 9.9.6.2. Financial Performance
- 9.9.6.3. Product Portfolios
- 9.9.6.4. Strategic Initiatives
- 9.9.7. Burberry Group Plc
- 9.9.7.1. Company Overview
- 9.9.7.2. Financial Performance
- 9.9.7.3. Product Portfolios
- 9.9.7.4. Strategic Initiatives
- 9.9.8. Tapestry, Inc.
- 9.9.8.1. Company Overview
- 9.9.8.2. Financial Performance
- 9.9.8.3. Product Portfolios
- 9.9.8.4. Strategic Initiatives
- 9.9.9. Chanel
- 9.9.9.1. Company Overview
- 9.9.9.2. Financial Performance
- 9.9.9.3. Product Portfolios
- 9.9.9.4. Strategic Initiatives
- 9.9.10. Compagnie Financiere Richemont SA
- 9.9.10.1. Company Overview
- 9.9.10.2. Financial Performance
- 9.9.10.3. Product Portfolios
- 9.9.10.4. Strategic Initiatives