new york,, February 2, 2025 / Prnewswire/ -Report on how AI is redefined the market situation -the world’s luxury handbag market size, US $ 24.7 billion According to TechNavio, from 2024 to 2028. The market is estimated to grow with almost 6.34 % CAGR during the forecast period. Design and material innovation, which leads to the premium of products, are promoting market growth and tends to go to high -end handbags personalization and customization. However, the existence of counterfeit products brings challenges. The key maket player contains 3.1 PhiliplimBurberry Group PLC, Capri Holdings LTD., CHANEL LTD., Compagnie Financiere Richemont Sa, Dolce and Gabbana SRL, Fendi, Giorgio Armarnispa。 , Hermes International Sa, Kering Sa, Maus Freres Sa, Mullberry Group PLC, PVH Corp., Ralph Lauren Corp., REBECCA MINKOFFLC, SUN GJOO Group, Tapestry Inc., and LVMH Group.
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Luxury handbag market range
Report
detail
Base year
2023
Historical era
2018-2022
Prediction period
2024-2028
Growth exercise and CAGR
Accelerate with 6.34 % CAGR
Market growth 2024-2028
24733.6 million dollars
Market structure
Fragmentation
YOY growth 2022-2023 ( %)
5.86
Regional analysis
Europe, North America, Apac, South America, Middle East and Africa
Execution of market contribution
32 % Europe
Major country
The United States, China, France, Italy, Japan
A major company introduced
3.1 Phillip Lim, Burberry Group PLC, Capri Holdings LTD., COMPAGNIE FINANCIEERE RICHEMONT SA, Dolce and Gabbana SRL, Giorgio ARMANI Hermes International Sa, KERING SA, Maus Freres Sa, Mulberry Group PLC, PRADA SPA , Pvh Corp., Ralph Lauren Corp., Rebecca Minkoff LLC, Tory Burch LLC, Tory Burch LLC, Sungjo Group, Tapestry Inc., and LvMh Group.
Market driver
The luxury handbag market is driven by trends such as craftsmanship, high -end fashion brands, and increased female population seeking economic freedom. Clutches, cross -body bags, shoulder bags, satches, hobot bags, tote, briefcases, and even laptop bags are popular among men and women. Environmentally friendly materials such as cotton, linen, jute, hemp, synthetic alternative products are gaining traction. Smart technology integration such as built -in speakers, wireless charging, and GPS tracking adds value to luxury handbags. Waste reduction and environmental awareness are important concerns, which leads to the use of recycled leather, organic textiles, and biotio -made solutions. Online purchases, multi -channel brands, and personalized recommendations form consumer experience. Social media bloggers and influencer marketing with the support of celebrities affect consumers who are sensitive to fashion. Functional accessories and versatile designs support a variety of lifestyles. Popular companies offer custom -made handbags, limited edition design, and customized sculptures. The consumer and property world, including duty -free shops, online stores, and discount stores, is applicable to meet the demand of Millennials and Z. The luxury market and the conventional retail channels coexist and are fighting counterfeit products and replicas. Power, style sensation, and fashion tendency continues to form a luxury handbag market. Innovative design, durability, strength, recovery, flexibility, and high quality materials are still important factors.
Customized trends have gained traction in the luxury handbag market and have been extended to handbags made of various materials such as gold, silver, and diamonds. In the past five years, this customization trend is becoming more and more popular in developed areas like the United States. Europe。 Emerging economies like India and China We are also witnessing a growing demand for personalized luxury goods, including customized handbags. The luxury handbag sector provides customized products provided by major players to enhance the visual appeal of products. This customization trend is an important development of the luxury handbag industry.
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Market assignment
The luxurious handbag market faces several issues in today’s business environment. High -end fashion brands are struggling with the increase in working female population looking for functional and stylish bags. With freedom of finance, consumers can invest in luxury goods such as handbags. Craftsmanship is still indispensable, but consumers also require smart technology such as built -in speakers, wireless charging, and GPS tracking. Environmentally friendly materials such as cotton, linen, jute, hemp, synthetic substitute are popular. Men and women are looking for a multipurpose accessories, like unisex consumers. The brand needs to be a social media that is sensitive to fashion and aggressive millennials and generations Z. Influencer marketing, celebrity support, and blogger collaboration is an effective strategy. The consumer and property world and the e -commerce platform face the issues such as the complexity of the supply chain, imported tariffs, taxation, and counterfeit products. Functional accessories such as clutch, cross -body bags, shoulder bags, satches, hobot bags, tote, briefcases, laptop bags, etc. need to provide innovation, durability and strength. Popular companies are exploring environmentally friendly materials, such as recycling leather, organic textile, and bioscopic solutions. The trend of online purchase is continued, and the multi -channel brand provides personalized recommendations, virtual trion experiences, click and collection, and custom -made handbags. The limited edition design, customized sculpture, and custom -made designs are appealing to consumers. Influencers, functional accessories, and multi -purpose design dominate the luxury handbag market.
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Segment overview
This luxurious handbag market report covers a wide range of market segmentation
Distribution channel type handbag backpack wallet Other geography
Europe
North America
Apac
south america
Middle East and Africa
1.1 offline -In 2023, the offline distribution channel has maintained the largest share in the luxury handbag market in the world. This segment includes retail formats such as specialty stores, hypermarkets, department stores, convenience stores, supermarkets, and warehouses. Specialty stores, especially brand specialized retailers, are important contributions to this sub -segment. They offer a wide range of luxury handbags from various brands and prices. These stores help vendors plan, advertising, promotion, brand construction, training, and support budgets. Hypermarkets, supermarkets, convenience stores, and clubhouse stores are popular for convenience and wide brands. A department store is recommended for a single shopping solution. Brand recognition is very important among first fashion sector and young customers. The brand has opened a new store in major markets and has expanded its presence around the world by strengthening store experience. For example, Hermes International has opened a new store Strasbourg in November 2022We provide personalized products and unique purchase experiences. The opening of these strategies and new brand -specific stores for luxury handbags is expected to promote sales growth through offline channels and promote market expansion during the forecast period.
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Research analysis
The luxury handbag market is a prosperous segment of the consumer property promoted by the desire for a growing working woman population that seeks luxury fashion and economic freedom. The market includes a variety of styles, including clutches, cross -body bags, shoulder bags, satches, hobot bags, and tote bags. The support of social media bloggers and celebrities has a significant effect on consumer preferences. The market faces issues such as imported services, taxation, and counterfeit goods. The brand is compatible with Satchel bags made from recycled leather, organic textiles, and bio -processed solutions. Consumers make online purchases, personalized recommendations, virtual triang experience, select click and collection, and more and more custom -made handbags. Limited edition handbags and customized sculptures add exclusive properties, but custom -made designs correspond to individual preferences. The future of the luxury handbag market lies in innovation and sustainability.
Overview of market research
The luxury handbag market is a thriving sector of the consumer and property world, and supports consumers who are sensitive to fashion and consumers who are trying to express their style and economic freedom. High -end fashion brands offer a variety of handbags, such as clutches, cross -body bags, shoulder bags, satchells, hobot bags, tote, briefcases, and are famous for their craftsmanship and exquisite designs. These bags include various materials such as cotton, linen, jute, hemp, synthetic fabric, recycle leather, organic textile. Innovative technology functions such as smart technology, built -in speakers, wireless charging, and GPS tracking are increasingly integrated into high -end handbags that meet modern consumer needs. In the market, the demand for unisex options, the millennials, generation Z. specialty stores, tax exemption stores, online stores, and discount stores is growing. A popular channel for purchasing luxury handbags. Influencer marketing, celebrity support, and blogger support play an important role in advertising these brands. The luxury handbag market is also affected by factors such as supply chains, imported tariffs, taxation, counterfeit products, and concerns about the environment. Limited edition handbags, custom -made handbags, and used luxury handbags are popular trends, as well as functional and versatile accessories. Popular companies offer personalized recommendations, virtual trion experience, click and collection, and customized sculptures. The market is expected to continue to grow, from improving purchasing power, unique and innovative design, and luxurious lifestyle charm.
table of contents:
One executive summary
2 Market landscape
3 Market sizing
Four historical market size
5 5 power analysis
6 Market segmentation
Distribution channel type handbag backpack wallet Other geography
Europe
North America
Apac
south america
Middle East and Africa
7 Customer landscape
8 Geographical landscape
Nine drivers, issues, trends
The scenery of 10 companies
11 Analysis of the company
12 appendix
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