Europe Handbag Market was valued at USD 21.4 billion in 2020. The Europe Handbag Market size is estimated to grow at a CAGR of 7.51 % over the forecast period
A handbag is a type of fashion accessory that is primarily used by women to carry essential personal utility items. Handbags are typically made by stitching together multiple pieces of cloth or leather in a variety of sizes, patterns, and colors. Shoulder, satchel, handheld, and sling bags are the most common types of handbags on the market. Gender-neutral bags are becoming increasingly popular among consumers of all ages.
Europe Handbag Market Report Scope and Research Methodology
The objective of the report is to present a comprehensive analysis of the Europe Handbag market including all the stakeholders of the industry. The past and current status of the Europe Handbag industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. It covers all the aspects of the Europe Handbag industry with a dedicated study of key players that includes market leaders, followers and new entrants. External as well as internal factors that affect the business positively or negatively have been analysed in the Europe Handbag market report. The report also helps in understanding global Europe Handbag market dynamics and market structure by analysing the market segments and forecasting the global market size. Clear representation of competitive analysis of key players by Type, price, financial position, Raw material portfolio, growth strategies, and regional presence in the global Europe Handbag market make the report investor’s guide. PORTER, PESTLE analysis with the potential impact of micro-economic factors of the market have been presented in the Europe Handbag Market report.
Europe Handbag Market Overview
Europe Handbag Market Research Report investigated the current state of definitions, classifications, applications, and industry chain structure. The Europe Handbag Market analysis provides objective professional commentary on the current market scenario, prior market performance, production and consumption rates, demand and supply ratios, and forecasted income generation for the projected period. The Europe Handbag market study also includes information on the strategic ambitions and company growth strategies of the industry's leading businesses. To summarize, the report provides an in-depth analysis of the Europe Handbag market on a global and regional scale.
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Europe Handbag Market Key Players
Louis Vuitton Malletier (France)
Chanel Ltd(France)
Guccio Gucci S.p.A.( Italy)
Prada S.p.A. (Italy)
Fendi (Italy)
Burberry (U.K.)
Hermès International S.A.( France)
Calvin Klein Inc. (U.S.)
Burberry Group PLC. ( Italy)
Kering SA (France)
Michael Kors (New York)
Ted Baker plc ( United Kingdom)
Europe Handbag Market Dynamics:
The burgeoning fashion accessory sector, as well as an increasing working population and rapid urbanization, are the primary drivers of market expansion in this region. Furthermore, in both developed and developing countries, a significant increase in female labor-force participation has boosted product demand. Furthermore, most working professionals prefer to carry a variety of essential items in their handbags, such as laptops, tablets, wallets, and food. As a result, manufacturers have developed purses that are extremely useful, such as laptop sleeves, key holders, and phone holders.
Europe Handbag Market Segmentation:
By Product, In 2020, the tote segment held 37% of the market. Due to the product's larger size in comparison to other types of Europe Handbags. Its adaptability and ease of carrying more items while maintaining an attractive appearance are likely to increase its popularity. For example, the Carmen Tote has two slide pockets, three credit card slots, one zip pocket, one detachable and adjustable shoulder strap, and two handles, making it extremely versatile and convenient for the majority of users.
Because of their suitability for a variety of occasions and purposes, such as casual, formal, and semi-formal settings, the clutch, satchel, and other segments are gaining market share.
By the End User, Women dominated the market in 2020 with a 54% share, owing to their increased participation in e-commerce shopping. In the coming years, women's online spending is expected to more than double.
Men are increasingly gravitating toward the consumption of various fashion items, including handbags, and this market is also expanding modestly. These factors are expected to drive the segment's growth over the forecast period.
Europe Handbag Market Regional Insights
Each regional Europe Handbag market is thoroughly studied to determine its current and future growth prospects. This information helps clients to grow their businesses. The Europe Handbag market report covers all five regions and their country-wise distribution. Their Europe Handbag market size and trends are also included in the report.
Key Questions answered in the Europe Handbag Market Report are:
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Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business.
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Mar 15, 2023
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