Manufacturers investing heavily in entering the online market place to leverage the luxury handbag market

Date: 1 February 2020

According to a research report published by Azoth Analytics in January 2020, the Global Luxury Handbag Market was valued at USD 15304.92 million 2019. Primarily, the growth in the market for Luxury Handbag will be chiefly supported by rising number of millennials and Gen Z demanding high end items, rising e-commerce websites, increasing number of women in high earning jobs, changing lifestyle and fashion trends. The enhanced investment by various leading Luxury Handbag manufacturers to introduce high quality handbags has been forecasted to supplement the Global Luxury Handbag Market growth during the forecast period.

Global Luxury Handbag Market will be majorly driven by the desire of individualism for which personal grooming expenditure has been increasing by masses in various countries worldwide. Additionally, consumers gaining awareness due to their timeless designs made by ecological and appreciable materials are expected to accelerate the market growth in the future coming years.

Others segment of luxury handbag and Online market, under their respective segments, are anticipated to experience the highest market share largely because of burgeoning demand arising from consumers who consistently update themselves with the trends, increase in disposable income, rise in spending on high end items, developing sense of individualism in the market.

In addition, manufacturers are investing heavily in entering the online market place owing to ever expanding e-commerce market with growing number of people having access to internet and escalating smartphones penetration. These factors will be driving a remarkable growth in the global market for Luxury Handbag during the forecast period.

The Azoth Analytics research report titled Global Luxury Handbag Market (2020 Edition) -Market Insight, Opportunities and Forecast (2020-2025)  has analysed and segmented the Luxury Handbag Market By Value (USD Million) and By Volume (In Million). The report has analysed the Luxury Handbag Market By Type (Shoulder bags, Tote Bags, Briefcases and Others) and By Sales Channel (Online, Offline). The Global Luxury Handbag Market has been further analysed By Region (Americas, Europe, Asia Pacific) and By Country (USA, Italy, France, China, Japan) for the historical period of 2015-2019 and the forecast period of 2020-2025.