Escalating Influence of Social Media, Growing Number of Digital Buyers, Luxury Consumption by Millennial & Gen Z Generations
The global luxury handbag market has increased significantly in 2020 and projections are made that the market would rise in the next four years i.e. 2021-2025 tremendously. The luxury handbag market is expected to increase due to escalating influence of social media, growing number of digital buyers, soaring urban population, increasing female population, dominating luxury consumption by millennial and Gen Z generations, etc. Yet the market faces some challenges such as availability of counterfeit products, presence of lower-priced premium brands, etc.
Luxury handbags are expensive bags, made from high-quality materials by experienced designers. Luxury handbags are considered an investment piece and confer status. A wide range of materials are used to manufacture luxury bags, such as leather, denim, vinyl, etc.
There are many factors to select different luxury bags. Few of them are: shape, color, leather type, size capacity, handle length and budget. The major benefits of choosing a good quality designer handbag include make a statement, high quality, durable, repairing of accidental damage, great customer service, and uniqueness.
The luxury handbag market can be segmented on the basis of type (Shoulder bags, Clutches, Sling Bags, Tote Bags, Briefcases, and Others); material (Leather, Cotton, Synthetic, and Nylon), and distribution channel (Online and Offline).
The global luxury handbag market is fragmented with many major market players operating worldwide. The key players of the luxury handbag market are Kering S.A. (Gucci), Capri Holdings Limited (Michael Kors), Prada S.p.A., and Giorgio Armani S.p.A. are also profiled with their financial information and respective business strategies.
This report provides an in depth analysis of the global luxury handbag market by value, by type, by material, by distribution channel, by region, etc. The report provides a regional analysis of the luxury handbag market, including the following regions: Europe, Asia Pacific, North America (The US and Rest of North America), Middle East & Africa, and Latin America. The report also offers a detailed analysis of the COVID-19 impact on the luxury handbag market.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global luxury handbag market has also been forecasted for the period 2021-2025, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Country Coverage
- Europe
- Asia Pacific
- North America
- Middle East & Africa
- Latin America
Company Coverage
- Kering S.A. (Gucci)
- Capri Holdings Limited (Michael Kors)
- Prada S.p.A.
- Giorgio Armani S.p.A.
Table of Contents
1. Executive Summary
2. Introduction
2.1 Luxury Handbag: An Overview
2.1.1 Factors to Select Different Luxury Handbags
2.1.2 Benefits Of Choosing A Good Quality Designer Handbag
2.2 Luxury Handbag Segmentation: An Overview
2.2.1 Luxury Handbag Segmentation by Type
2.2.2 Luxury Handbag Segmentation
3. Global Market Analysis
3.1 Global Luxury Handbag Market: An Analysis
3.1.1 Global Luxury Handbag Market by Value
3.1.2 Global Luxury Handbag Market by Type (Tote Bags, Shoulder Bags, and Others)
3.1.3 Global Luxury Handbag Market by Material (Leather, Cotton, Nylon and Synthetic)
3.1.4 Global Luxury Handbag Market by Distribution Channel (Online and Offline)
3.1.5 Global Luxury Handbag Market by Region (Europe, Asia Pacific, North America, Middle East & Africa, and Latin America)
3.2 Global Luxury Handbag Market: Type Analysis
3.2.1 Global Luxury Tote Bags Market by Value
3.2.2 Global Luxury Shoulder Bags Market by Value
3.2.3 Global Other Luxury Handbag Market by Value
3.3 Global Luxury Handbag Market: Material Analysis
3.3.1 Global Leather Luxury Handbag Market by Value
3.3.2 Global Cotton Luxury Handbag Market by Value
3.3.3 Global Nylon Luxury Handbag Market by Value
3.3.4 Global Synthetic Luxury Handbag Market by Value
3.4 Global Luxury Handbag Market: Distribution Channel Analysis
3.4.1 Global Offline Luxury Handbag Market by Value
3.4.2 Global Online Luxury Handbag Market by Value
4. Regional Market Analysis
4.1 Europe Luxury Handbag Market: An Analysis
4.1.1 Europe Luxury Handbag Market by Value
4.2 Asia Pacific Luxury Handbag Market: An Analysis
4.2.1 Asia Pacific Luxury Handbag Market by Value
4.3 North America Luxury Handbag Market: An Analysis
4.3.1 North America Luxury Handbag Market by Value
4.3.2 North America Luxury Handbag Market by Region (The US and Rest of North America)
4.3.3 The US Luxury Handbag Market by Value
4.3.4 The US Luxury Handbag Market by Type (Tote Bags, Sling Bags, Shoulder Bags, and Others)
4.3.5 The US Luxury Handbag Market Type by Value
4.3.6 Rest of North America Luxury Handbag Market by Value
4.4 Middle East & Africa Luxury Handbag Market: An Analysis
4.4.1 Middle East & Africa Luxury Handbag Market by Value
4.5 Latin America Luxury Handbag Market: An Analysis
4.5.1 Latin America Luxury Handbag Market by Value
5. Impact of COVID-19
5.1 Impact of COVID-19
5.1.1 Impact of COVID-19 on Luxury Handbags Industry
5.1.2 Post COVID-19 Scenario
6. Market Dynamics
6.1 Growth Driver
6.1.1 Escalating Influence of Social Media
6.1.2 Growing Number of Digital Buyers
6.1.3 Soaring Urban Population
6.1.4 Increasing Female Population
6.1.5 Dominating Luxury Consumption by Millennial and Gen Z Generations
6.2 Challenges
6.2.1 Availability of Counterfeit Products
6.2.2 Presence of Lower-priced Premium Brands
6.3 Market Trends
6.3.1 Rising Need for Personalization
6.3.2 Upgrading the In-Store Experience
6.3.3 Increasing Demand for Convertible Handbags
6.3.4 New Eco-friendly Luxury Handbags
7. Competitive Landscape
7.1 Global Luxury Handbag Market Players: A Financial Comparison
8. Company Profiles
8.1 Kering S.A. (Gucci)
8.1.1 Business Overview
8.1.2 Financial Overview
8.1.3 Business Strategy
8.2 Capri Holdings Limited (Michael Kors)
8.2.1 Business Overview
8.2.2 Financial Overview
8.2.3 Business Strategy
8.3 Prada S.p.A.
8.3.1 Business Overview
8.3.2 Financial Overview
8.3.3 Business Strategy
8.4 Giorgio Armani S.p.A.
8.4.1 Business Overview
8.4.2 Business Strategy
List of Figures & Tables
Figure 1: Factors to Select Different Luxury Handbags
Figure 2: Benefits Of Choosing A Good Quality Designer Handbag
Figure 3: Luxury Handbag Segmentation by Type
Figure 4: Luxury Handbag Segmentation
Figure 5: Global Luxury Handbag Market by Value; 2020-2025 (US$ Billion)
Figure 6: Global Luxury Handbag Market by Type; 2020 (Percentage, %)
Figure 7: Global Luxury Handbag Market by Material; 2020 (Percentage, %)
Figure 8: Global Luxury Handbag Market by Distribution Channel; 2020 (Percentage, %)
Figure 9: Global Luxury Handbag Market by Region; 2020 (Percentage, %)
Figure 10: Global Luxury Tote Bags Market by Value; 2020-2025 (US$ Billion)
Figure 11: Global Luxury Shoulder Bags Market by Value; 2020-2025 (US$ Billion)
Figure 12: Global Other Luxury Handbag Market by Value; 2020-2025 (US$ Billion)
Figure 13: Global Leather Luxury Handbag Market by Value; 2020-2025 (US$ Billion)
Figure 14: Global Cotton Luxury Handbag Market by Value; 2020-2025 (US$ Billion)
Figure 15: Global Nylon Luxury Handbag Market by Value; 2020-2025 (US$ Billion)
Figure 16: Global Synthetic Luxury Handbag Market by Value; 2020-2025 (US$ Billion)
Figure 17: Global Offline Luxury Handbag Market by Value; 2020-2025 (US$ Billion)
Figure 18: Global Online Luxury Handbag Market by Value; 2020-2025 (US$ Billion)
Figure 19: Europe Luxury Handbag Market by Value; 2020-2025 (US$ Billion)
Figure 20: Asia Pacific Luxury Handbag Market by Value; 2020-2025 (US$ Billion)
Figure 21: North America Luxury Handbag Market by Value; 2020-2025 (US$ Billion)
Figure 22: North America Luxury Handbag Market by Region; 2020 (Percentage, %)
Figure 23: The US Luxury Handbag Market by Value; 2020-2025 (US$ Billion)
Figure 24: The US Luxury Handbag Market by Type; 2020 (Percentage, %)
Figure 25: The US Luxury Handbag Market Type by Value; 2020-2025 (US$ Billion)
Figure 26: Rest of North America Luxury Handbag Market by Value; 2020-2025 (US$ Billion)
Figure 27: Middle East & Africa Luxury Handbag Market by Value; 2020-2025 (US$ Billion)
Figure 28: Latin America Luxury Handbag Market by Value; 2020-2025 (US$ Billion)
Figure 29: Global Social Network Users; 2019-2025 (Billion)
Figure 30: Global Digital Buyers; 2015-2021 (Billion)
Figure 31: Global Urban Population by Group of Economies; 2014-2050 (Million)
Figure 32: Global Female Population; 2015-2020 (Billion)
Figure 33: Global Millennial and Gen Z Share in Personal Luxury Goods Sales; 2019-2025 (Percentage, %)
Figure 34: Kering S.A. Revenue; 2017-2020 (US$ Billion)
Figure 35: Kering S.A. Revenue by Luxury House; 2020 (Percentage, %)
Figure 36: Kering S.A. Revenue by Product Category; 2020 (Percentage, %)
Figure 37: Kering S.A. Revenue by Region; 2020 (Percentage, %)
Figure 38: Capri Holdings Limited Total Revenue; 2017-2021 (US$ Billion)
Figure 39: Capri Holdings Limited Total Revenue by Segments; 2021 (Percentage, %)
Figure 40: Capri Holdings Limited Total Revenue by Region; 2021 (Percentage, %)
Figure 41: Prada S.p.A. Net Sales; 2017-2020 (US$ Billion)
Figure 42: Prada S.p.A. Net Sales by Brand; 2020 (Percentage, %)
Figure 43: Prada S.p.A. Net Sales by Product Line; 2020 (Percentage, %)
Figure 44: Prada S.p.A. Net Sales by Region; 2020 (Percentage, %)
Table 1: Global Luxury Handbag Market Players: A Financial Comparison; 2020/2021
Companies Mentioned
- Kering S.A. (Gucci)
- Capri Holdings Limited (Michael Kors)
- Prada S.p.A.
- Giorgio Armani S.p.A.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | October 2021 |
| Forecast Period | 2021 - 2025 |
| Estimated Market Value ( USD | $ 64.35 Billion |
| Forecasted Market Value ( USD | $ 83.74 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 4 |
