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

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Article Publishing Date: 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 $90B in 2017, growing by 33% 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 70% 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 3.7B units (IndexBox estimate), approximately mirroring the previous year. The total consumption volume increased an average annual rate of +2.2% 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 53% y-o-y. In that year, the global handbag consumption attained their peak volume of 3.7B 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. (215M units), followed by China, Hong Kong SAR (121M units), the UK (99M units), Italy (94M units), Spain (92M units), Germany (75M units), and India (74M units) were the main importers of handbags, together making up 48% of total imports. Mexico (62M units), Brazil (56M units), the Netherlands (45M units), and South Africa (42M 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 (1.6B units) constituted the country with the largest volume of handbag consumption, accounting for 42% of total consumption. Moreover, handbag consumption in China exceeded the figures recorded by the world's second largest consumer, the U.S. (213M units), sevenfold. Mexico (170M units) ranked third in terms of total consumption with a 4.6% share. In China, handbag consumption expanded at an average annual rate of +19.6% over the period from 2007-2017. In the other countries, the average annual rates were as follows: the U.S. (-5.4% per year) and Mexico (+10.7% 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 +2.9% for the eight-year period from 2017 to 2025, which is projected to bring the market volume to 4.7B 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 420221 - 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 420222 - 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 420229 - 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 AI Platform

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

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 2025.



Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in World, split by region and country
• Trade (exports and imports) in World
• 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. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2025
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2018
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2018
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

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
LIST OF TABLES
Table 1:
Key Findings In 2018
Table 2:
Market Volume, In Physical Terms, 2007–2018
Table 3:
Market Value, 2007–2018
Table 4:
Per Capita Consumption, By Country, 2015–2018
Table 5:
Production, In Physical Terms, By Country, 2007–2018
Table 6:
Imports, In Physical Terms, By Country, 2007–2018
Table 7:
Imports, In Value Terms, By Country, 2007–2018
Table 8:
Import Prices, By Country Of Destination, 2007–2018
Table 9:
Exports, In Physical Terms, By Country, 2007–2018
Table 10:
Exports, In Value Terms, By Country, 2007–2018
Table 11:
Export Prices, By Country Of Origin, 2007–2018
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2018
Figure 2:
Market Value, 2007–2018
Figure 3:
Consumption, By Country, 2018
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2007–2018
Figure 17:
Production, In Value Terms, 2007–2018
Figure 18:
Production, By Country, 2018
Figure 19:
Production, In Physical Terms, By Country, 2007–2018
Figure 20:
Imports, In Physical Terms, 2007–2018
Figure 21:
Imports, In Value Terms, 2007–2018
Figure 22:
Imports, In Physical Terms, By Country, 2018
Figure 23:
Imports, In Physical Terms, By Country, 2007–2018
Figure 24:
Imports, In Value Terms, By Country, 2007–2018
Figure 25:
Import Prices, By Country, 2007–2018
Figure 26:
Exports, In Physical Terms, 2007–2018
Figure 27:
Exports, In Value Terms, 2007–2018
Figure 28:
Exports, In Physical Terms, By Country, 2018
Figure 29:
Exports, In Physical Terms, By Country, 2007–2018
Figure 30:
Exports, In Value Terms, By Country, 2007–2018
Figure 31:
Export Prices, 2007–2018
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