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World - Handbags - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

World - Handbags - Market Analysis, Forecast, Size, Trends And Insights

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Jan 18, 2019

Global Handbag Market: Strong Demand in Asia Drives the Growth

IndexBox has just published a new report "World - Handbags - Market Analysis, Forecast, Size, Trends and Insights". Here is a summary of the report's key findings.

The global handbag market revenue amounted to $X in 2017, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, handbag consumption continues to indicate a strong expansion. The pace of growth was the most pronounced in 2016, with an increase of X% year-to-year. Over the period under review, the global handbag market reached its peak figure level in 2017, and is likely to continue its growth in the immediate term.

Handbags constitute day-to-day consumer goods, especially preferred by women: they use it not only as a functional bag, but also and more likely, as an element of personal style. Consumption of handbags does depend on income level and consumer preferences; however, there are both cheap and expensive brands available, and almost every woman starting from a middle-income social group can afford using a handbag.

Design and colors are closely connected with the trend in the fashion industry and particularly the trend made by popular companies such as Louis Vuitton, Salvatore Ferragamo, Gucci, and Prada. Some of the modern trends in handbag design include handbags made out of tweeds and wool that imitate clothing, use of unusual materials like canvas, emphasis on delicacy in details, leather bowling bags, handbags made of faux fur, vintage design with beading, and embellishments. As handbags become accessories to fashion their life cycles have lessened, and new items are designed all year round.

In 2017, the amount of handbags consumed worldwide stood at X units (IndexBox estimate), approximately mirroring the previous year. The total consumption volume increased an average annual rate of +X% over the period from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2016, with an increase of X% y-o-y. In that year, the global handbag consumption attained their peak volume of X units, leveling off in the following year.

Japan, the U.S., Italy, Canada and the UK Constitute As The Most Promising Foreign Markets

In 2017, the U.S. (X units), followed by China, Hong Kong SAR (X units), the UK (X units), Italy (X units), Spain (X units), Germany (X units), and India (X units) were the main importers of handbags, together making up X% of total imports. Mexico (X units), Brazil (X units), the Netherlands (X units), and South Africa (X units) followed a long way behind the leaders.

Germany, India, Brazil, the Netherlands and South Africa emerged as the largest and fastest growing importers of handbag worldwide, while Japan, the U.S., Italy, Canada and the UK feature high and rising import prices; those countries, therefore, constitute the most promising markets for foreign exporters.

Asia To Drive The Growth Of Global Handbag Consumption

China (X units) constituted the country with the largest volume of handbag consumption, accounting for X% of total consumption. Moreover, handbag consumption in China exceeded the figures recorded by the world's second largest consumer, the U.S. (X units), sevenfold. Mexico (X units) ranked third in terms of total consumption with a X% share. In China, handbag consumption expanded at an average annual rate of +X% over the period from 2007-2017. In the other countries, the average annual rates were as follows: the U.S. (-X% per year) and Mexico (+X% per year).

Since handbags are already a popular product in the developed countries of the West, no prerequisites for a sharp growth in consumption are currently forecast. Therefore, population growth remains a key development driver here, combined with increases in disposable income, which in turn will contribute to enhanced consumer spending. Another impetus is to come from increasing influx of migrants, who may possibly consume more handbags, trying adapt to local women's' lifestyles.

It should, therefore, be expected that the developed European economies, as well as the USA and Canada, would buoy overall stability on the global handbag market and to some extent, contribute to the overall market growth. On the other hand, a key impetus for further global market growth currently comes from the rapidly developing Asian countries. Per capita consumption of handbags in Asia remains tangibly lower than in the USA and Europe, which indicates weak market saturation and a simultaneous robust potential for growth.

Because of the rapid urbanization process and the increasing popularity of Western lifestyle in Asia, the urban middle-income and high-income classes, who can be considered as key consumer groups for handbags, are growing rapidly in the emerging markets. Moreover, increasing incomes has allowed general health awareness by customers in Asian countries regarding fashion and brand prestige to increase. All this will determine the future of the handbags market across South-Eastern Asia and will remain a major driver of the growth of the global handbags market. China will continue to lead the globe in terms of market growth, given a large and growing population, increasing consumer incomes and strong bag producing industry.

Driven by increasing demand for handbag worldwide, the market is expected to continue an upward consumption trend over the next eight year period. Market perfomance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +X% for the eight-year period from 2017 to 2025, which is projected to bring the market volume to X units by the end of 2025.

Do you want to know more about global handbag market? Get the latest trends and insight from our report. It includes a wide range of statistics on:

  • handbag market share
  • handbag prices
  • handbag industry
  • handbag sales
  • handbag import
  • handbag export
  • handbag market forecast
  • handbag price forecast
  • key handbag producers

All data provided in this article covers the following products:

HS X - Cases and containers; handbags (whether or not with shoulder strap and including those without handle), with outer surface of leather, of composition leather or of patent leather

HS X - Cases and containers; handbags (whether or not with shoulder strap and including those without handle), with outer surface of sheeting of plastics or of textile materials

HS X - Cases and containers; handbags (whether or not with shoulder strap and including those without handle), with outer surface of vulcanised fibre, paperboard or paper.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global handbag market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 15121220 - Handbags of leather, composition leather, patent leather, p lastic sheeting, textile materials or other materials (including those without a handle)

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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