Kenneth Research has recently added a report titled Luxury Handbag Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2022-2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Luxury Handbag Market products.
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Global Luxury Handbag Market was valued at USD 59352.05 million in the year 2019. Countries such as China, Japan, Brazil, Mexico are expected to witness rising demand of high end handbags in the forecast period of 2020-2025. Europe is the largest market of high end items followed by North America. Luxury products ‘Made-in Italy’ are progressively esteemed by True-Luxury purchasers, increasingly gaining attention among millennials and Chinese purchasers. The reason being availability of eminent, rapid product innovation in the handbags industry, inclination and interest towards individualism and changing lifestyle.
The manufacturers of luxury handbags are constantly attempting to develop their product in terms of shapes, color shades, and weight to meet the differed needs of buyers. Also, Research and Development of the product by major leading global handbag manufacturers in various regions with enhanced availability of bags facilitating the market growth. Additionally, rising self-individualism has been anticipated to spur the market growth during the forecast period.
Among the regions, Europe, followed by North America and APAC, will account for the largest market share owing to rise in internet penetration and number of well-informed buyers, augmented demand for innovative designs of bags introduced in the market, high spending on high end items and increasing penetration of online sales channel.
• The report analyses Global Luxury Handbag Market By Value and By Volume.
• The report analyses Global Luxury Handbag Market By Type (Shoulder bags, Tote Bags, Briefcases, Others).
• The report assesses the Global Luxury Handbag Market By Sales Channel (Online and Offline).
• The Global Luxury Handbag Market has been analysed By Region (Americas, Europe, Asia Pacific) and By Country (USA, Italy, France, China, Japan).
• Pricing analysis has been done for the leading handbag brands.
• The attractiveness of the market has been presented By Type and Sales Channel. Additionally, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The companies analysed in the report include Louis Vuitton Moët Hennessy(LVMH), GUCCI, Prada, Burberry, Chanel, Coach, HERMÈS, Capri Holdings Limited, Tory Burch LLC, MANU Atelier.
• The report presents the analysis of Luxury Handbag market for the historical period of 2015-2019 and the forecast period of 2020-2025.
Key Target Audience
• Luxury Handbag Vendors
• Luxury Handbag Manufacturers
• Luxury Second Hand Vendors
• Consulting and Advisory Firms
• Investment Banks and Equity Firms
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