GITNUX MARKETDATA REPORT 2024

Must-Know Handbag Industry Statistics [Latest Report]

Table of Contents

The handbag industry is a multi-billion dollar industry that is constantly evolving. From the latest trends to the most popular styles, the handbag industry is always changing. But what do the statistics say about the industry?

In this blog post, we’ll take a look at some of the most interesting handbag industry statistics and how they can help you understand the industry better. We’ll also discuss how these statistics can help you make informed decisions when it comes to your own handbag purchases. So, let’s dive in and explore the fascinating world of handbag industry statistics.

The Most Important Statistics
  The global handbags market is expected to grow from $58.1 billion in 2020 to $80.4 billion in 2028, at a compound annual growth rate of 4.7%.

The US women’s luxury bag market is projected to grow at a CAGR of 4.6% from 2020 to 2025, reaching a value of $14 billion by 2025.

The handbags market in Japan is projected to reach $5.5 billion by 2025, with an annual growth rate of 3.5%.

Handbag Industry: Statistics Overview

The global premium handbag and accessories market was worth $62.5 billion in 2020 and is expected to reach $84.4 billion by 2026, representing a significant increase from the previous year.

This shows the potential for growth in the industry. It also highlights the importance of the handbag and accessories market and the potential for businesses to capitalize on the increasing demand for these products.

The global handbags market is expected to grow from $58.1 billion in 2020 to $80.4 billion in 2028, at a compound annual growth rate of 4.7%.

This provides an indication of the potential growth of the industry over the next few years. This can be used by companies in the industry to plan their strategies and investments accordingly. It can also be used by investors to decide whether to invest in the industry or not.

In 2015, 41% of US respondents planned to purchase their next handbag within the year, with 24% planning to purchase within the next six months.

This provides insight into the demand for handbags in the US. Knowing how many people plan to purchase a handbag within a certain time frame can help companies in the industry plan their production and marketing strategies accordingly.

In 2020, the retail sales value of women’s handbags in the US was approximately $7.7 billion, with a 17.6% decline from 2019. Leather handbags accounted for the largest segment of the market, making up over 40% of sales.

This provides an overview of the market size and growth rate of the handbag industry in the US. It also reveals the relative importance of leather handbags in the overall market. This information can be used to inform business decisions and strategies related to the handbag industry.

In the UK in 2016, 49% of women reported owning between three and ten handbags, while only 3% reported owning more than 20 handbags.

The majority of women prefer to own a moderate number of handbags, and that the market for high-end, expensive handbags is relatively small.

The leather luggage and handbags manufacturing industry in the UK generated £1.3 billion in sales in 2020, with a 7.2% decrease from 2019. Handbags accounted for over 70% of sales.

This shows the current state of the handbag industry in the UK. It provides insight into the size of the industry and the decline in sales over the past few years. This information can be used to inform decisions about the future of the industry and how to best position it for success.

The US women’s luxury bag market is projected to grow at a CAGR of 4.6% from 2020 to 2025, reaching a value of $14 billion by 2025.

This provides an indication of the potential growth of the industry over the next five years. It also provides insight into the size of the market and the potential opportunities for businesses to capitalize on.

Additionally, it can help inform decisions on product design, marketing strategies, and pricing.

Chanel is the most-followed luxury handbag brand on Weibo in China, with over 15 million followers as of November 2021.

This shows the reach and influence of Chanel in the Chinese handbag market. It also demonstrates the power of social media in driving brand awareness and engagement. This data can be used by other handbag brands to inform their marketing strategies and target the right audiences.

The handbags market in Japan is projected to reach $5.5 billion by 2025, with an annual growth rate of 3.5%.

It highlights the importance of leather handbags, which account for over 70% of sales in the handbag segment. This information can be used to inform decisions about investments and strategies in the handbag industry.

The manufacture of luggage, handbags, saddlery, and harness in Germany is expected to reach around $2.8 billion by 2025, with an annual growth rate of 2.3%.

The handbag industry in Germany is growing and is expected to continue to grow in the coming years. This means that there is potential for businesses in the handbag industry to expand and take advantage of the growing market.

Supplementary Statistics

The global handbag market size was valued at USD 47 billion in 2020.

This highlights the sheer magnitude of the market, and the potential for growth and success within it. It also serves as a reminder of the importance of the handbag industry in the global economy, and the potential for businesses to capitalize on its success.

The handbag industry is expected to grow at a compound annual growth rate (CAGR) of 6.8% from 2021 to 2028.

The industry is expected to experience steady growth over the next seven years, indicating that now is a great time to invest in the handbag industry. This statistic is a valuable piece of information for anyone looking to gain insight into the current and future state of the handbag industry.

The Asia Pacific region dominates the handbag market with a 34% share in terms of product sales.

It highlights the region’s dominance in terms of product sales, demonstrating the importance of the Asia Pacific region in the handbag industry. This statistic is a valuable insight into the current state of the handbag market and provides a useful reference point for anyone looking to gain a better understanding of the industry.

The online sales channel for the handbag industry is projected to grow at a CAGR of 8.8% during the forecast period 2021-2028.

The online sales channel is expected to experience a steady increase in demand over the next few years, indicating that the industry is likely to remain a lucrative one. This is great news for those involved in the handbag industry, as it suggests that there is plenty of potential for growth and success. Furthermore, this statistic can be used to inform decisions about investments, marketing strategies, and other business decisions related to the handbag industry.

The global luxury handbag market is expected to reach a value of USD 94.63 billion by 2025.

This highlights the immense growth potential of the industry, and serves as a reminder of the lucrative opportunities that await those who invest in the sector. It also serves as a reminder of the importance of staying up-to-date with the latest trends and developments in the industry, as the market is expected to continue to grow in the coming years.

In 2015, women’s accessories generated $33.3 billion in sales in the U.S., with the handbag segment having the largest share.

The handbag segment is the most profitable in the women’s accessories market, and that the industry is thriving. This information is essential for anyone looking to gain insight into the handbag industry and its current state. It is also a great starting point for anyone looking to make informed decisions about investing in the handbag industry.

The number of U.S. handbag designers has more than tripled since 2000.

It is a clear indication that the handbag industry is thriving and that more and more people are investing in handbags as a fashion accessory. This statistic is a great example of the success of the handbag industry and provides valuable insight into the current state of the industry.

In the year 2020, the Louis Vuitton brand was estimated to be worth around USD 47.2 billion, making it the most valuable luxury brand in the world.

This serves as a reminder of the power of the luxury market and the potential for brands to achieve great success. It also serves as a benchmark for other brands in the industry, showing them what is possible if they strive for excellence.

In 2019, the value of global luxury bags and accessories sales was forecast to be approximately $58.6 billion.

The handbag industry is a major player in the global economy, with billions of dollars in sales each year. It shows that the handbag industry is a lucrative and growing market, with plenty of potential for growth in the future. This statistic is a valuable insight into the current state of the handbag industry and provides a glimpse into its potential for the future.

In 2019, the worldwide leather bag retail sales growth was projected to reach 5.2%.

This statistic is a clear indication that the handbag industry is on the rise. It shows that the demand for leather bags is increasing, which is a positive sign for the industry. This growth in sales is a testament to the fact that the handbag industry is thriving and is a great opportunity for businesses to capitalize on.

The global leather goods market is forecasted to reach USD 629.1 billion by 2027, at a CAGR of 6.8% during the forecast period 2020-2027.

The global leather goods market is expected to experience significant growth, with a CAGR of 6.8% over the forecast period. This is a clear indication that the handbag industry is likely to experience a surge in demand, making it an attractive investment opportunity for those looking to capitalize on the industry’s growth.

A 2018 study revealed that women in the United States own an average of 6.27 handbags.

Women are investing in handbags, and that the industry is thriving. This statistic is a valuable insight into the success of the handbag industry, and it can be used to inform decisions about the future of the industry.

In 2018, 97% of handbag purchases were made by women.

Women are the primary purchasers of handbags, and that the industry is heavily dependent on them for its success. This statistic is essential for understanding the dynamics of the handbag industry and the importance of catering to the needs of female customers.

The luxury handbag market is highly concentrated, with the top four players accounting for approximately 60% of the total market share.

The majority of the market is dominated by a few major players, making it difficult for smaller companies to gain a foothold in the industry. This could be a major challenge for those looking to break into the market, as they will have to compete with established brands that have already established a strong presence. Furthermore, it could also mean that prices remain high, as the top four players have the power to dictate the market.

A study conducted in 2020 found that 65% of women in the United Kingdom own at least one designer handbag.

This highlights the fact that designer handbags are a sought-after item among women in the UK, and that the handbag industry is thriving in the region. This statistic is an important piece of information for anyone interested in the handbag industry, as it provides insight into the current market trends and consumer preferences.

Fashion and accessories, a category that includes handbags, was the second most popular counterfeit category in 2019, accounting for 18% of global seizures.

Consumers need to be aware of the potential for counterfeit goods when shopping for handbags, and the importance of purchasing from reputable sources. It also serves as a reminder of the need for the handbag industry to take steps to protect their products from counterfeiting.

Conclusion

The handbag industry is a multi-billion dollar industry that is growing at a rapid rate. It is estimated that the handbag industry will reach $60 billion by 2022. The industry is highly competitive, with many different brands competing for market share. The industry is also highly fragmented, with a wide variety of styles and materials available.

As the industry continues to grow, it is important for companies to stay up-to-date on the latest trends and statistics in order to remain competitive. By understanding the current trends and statistics, companies can better position themselves to take advantage of the opportunities in the handbag industry.

References

1 – https://www.statista.com/statistics/1047793/premium-handbag-and-accessories-market-size-worldwide/

2 – https://www.statista.com/statistics/1285141/handbags-global-market-value-forecast/

3 – https://www.statista.com/statistics/531064/when-do-you-plan-on-purchasing-your-next-handbag-us/

4 – https://www.statista.com/statistics/316526/retail-sales-value-of-women-s-handbags-in-the-us/

5 – https://www.statista.com/statistics/910667/number-of-handbags-owned-by-women-united-kingdom-uk/

6 – https://www.statista.com/statistics/313805/leather-luggage-handbags-manufacturing-sales-in-the-united-kingdom-uk/

7 – https://www.statista.com/statistics/830133/sales-growth-forecast-of-the-women-s-luxury-bag-market-us/

8 – https://www.statista.com/statistics/1326783/china-leading-luxury-apparel-and-handbag-brands-on-weibo/

9 – https://www.statista.com/forecasts/414218/handbags-revenue-in-japan

10 – https://www.statista.com/forecasts/353741/manufacture-of-luggage-handbags-saddlery-and-harness-revenue-in-germany

11 – https://www.businesswire.com

12 – https://www.globenewswire.com

13 – https://www.fool.com

14 – https://www.grandviewresearch.com

15 – https://www.statista.com

16 – https://www.elaunchers.com

FAQs

What is the size of the global handbag market?

The global handbag market is estimated to be worth over $80 billion.

What are the most popular materials used to make handbags?

The most popular materials used to make handbags are leather, canvas, nylon, and polyester.

What is the average price of a handbag?

The average price of a handbag can range from $20 to $2,000 depending on the brand, style, and material.

What are the main trends in the handbag industry?

The main trends in the handbag industry include the use of sustainable materials, bold colors, and statement hardware.

What are the most popular brands of handbags?

The most popular brands of handbags include Louis Vuitton, Gucci, Coach, Michael Kors, and Kate Spade.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

Table of Contents