The Report in light of Global Luxury Handbag Market is the latest extension to the database of Infinium Global Research. This exploration investigates in light of uses, advancement, geology, and sorts. The report gives a clear global luxury handbag market audit nearby the examination of industry’s gross edge, cost structure, usage esteem, and deal cost. The principle partnership of the luxury handbag market, makers, and dealers are profiled in the report close by the latest Industry change present and future examples. According to the report, the global luxury handbag market is projected to grow at a CAGR of 7.2% over the forecast period of 2019-2025.
Luxury Handbag Market: Insight
The fashion industry is mainly driven by changing consumer tastes and preferences. The major players in the luxury handbag market are Wan Lima, Macy’s, Inc., Michael Kors Holdings Limited, Phillip Lim, Proenza Schouler, Derek Alexander, Stella McCartney, Rebecca Minkoff, PVH corp., Gucci, and other companies. Companies are focusing on new product launches, innovation, mergers, and acquisitions to capture the maximum market. For instance, the Versace fashion house is acquired by Michael Kors Holdings Limited. Michael Kors Holdings Limited has become a leading global fashion luxury group in the world with the acquisition of Versace fashion house.
Luxury Handbag Market: Drivers, Restraints, and Opportunities
The changing taste and preferences of consumers encourage companies to innovate new products. The availability of new innovative handbags drives the growth of the luxury handbag market. Different shapes and sizes of handbags attract customers. The growing demand for multipurpose bags fuels the growth of the luxury handbag market. In addition, the increasing number of working women and rising disposable income boost the demand for the luxury handbag market. On the flip side, a duplicate of luxury bags is available that hampers the growth of the luxury handbag market. Moreover, innovations create numerous opportunities for handbag manufacturers to grow in the luxury handbag market. For instance, technologically advanced handbags are available now.
Luxury Handbag Market: Segmentation
The luxury handbag market is segmented on the basis of type, material, gender, and distribution channel. The type segment includses handbags, backpack, wallet, and other types. The handbag segment is further segmented into handheld bags, sling bags, shoulder bags, satchel bags, tote bags, hobo bags, and other handbags. The handbag segment is anticipated to have a dominant share in the luxury handbag market. On the basis of material, the luxury handbag market is classified into cotton, leather, nylon, and synthetic. Leather and synthetic material segments have a significant share in the luxury handbag market. Based on gender, the luxury handbag market is divided into men and women. The women segment is dominant owing to changing preferences for handbags among women. The distribution channel segment is divided into a retailer, departmental stores, and online channels. The online channel is expected to grow rapidly over the forecast period.
Luxury Handbag Market: Regional insights
Geographically, Europe is anticipated to be dominant in the luxury handbag market. The Europe region has easy availability of a variety of handbags that contributes to the growth of the luxury handbag market. Asia-Pacific is also growing in the global luxury handbag market. North America is anticipated to grow in the luxury handbag market over the forecast period.
Browse Detailed TOC, Description, and Companies Mentioned in Report @ https://www.infiniumglobalresearch.com/consumer-goods-packaging/global-luxury-handbag-market
Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Luxury Handbag.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
