Asia Pacific Handbag Market Size & Outlook, 2021-2030
Asia Pacific handbag market, 2017-2030 (US$M)
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Asia Pacific handbag market highlights
- The Asia Pacific handbag market generated a revenue of USD 14,272.8 million in 2021.
- The market is expected to grow at a CAGR of 7% from 2022 to 2030.
- In terms of segment, tote bag was the largest revenue generating product in 2021.
- Satchel is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2022 to 2030.
Asia Pacific data book summary
| Market revenue in 2021 | USD 14,272.8 million |
| Market revenue in 2030 | USD 26,212.5 million |
| Growth rate | 7% (CAGR from 2021 to 2030) |
| Largest segment | Tote bag |
| Fastest growing segment | Satchel |
| Historical data covered | 2017 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Tote Bag, Clutch, Satchel |
| Key market players worldwide | Lvmh Moet Hennessy Louis Vuitton SE, Hermes International SA, Capri Holdings Ltd, Fossil Group Inc, Kering SA, Prada SpA, Burberry Group PLC, Tapestry Inc, CHANEL, Compagnie Financiere Richemont SA Class A |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 29.1% of the global handbag market in 2021.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 26,212.5 million by 2030.
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Handbag Market Scope
Handbag Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific handbag market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to handbag market will help companies and investors design strategic landscapes.
Tote bag was the largest segment with a revenue share of 42.2% in 2021. Horizon Databook has segmented the Asia Pacific handbag market based on tote bag, clutch, satchel covering the revenue growth of each sub-segment from 2017 to 2030.
The rise in consumer buying power, combined with the increase in online shopping portals, has fueled the demand for handbags across Asia Pacific. Growing fashion consciousness and spending on personal items and accessories has also been observed to be a major factor driving the handbag market.
For instance, according to data released by Net-a-Porter in May 2020, the sales of handbags saw a strong growth of 261% in Asia Pacific compared to 2019. Similarly, the Department of Statistics reported in April 2020 that the retail sales of apparel, accessories, and footwear categories for Singapore grew by 83% in April 2020 compared to same period in 2019.
Furthermore, in April and May 2020, consumer traffic in Singapore increased by 15%. It saw a sale of 134,000 items cosmetics, wine, and handbags during this time, compared to just 60,000 units during the same period in 2019.
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Target buyers of Asia Pacific handbag market databook
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Our clientele includes a mix of handbag market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific handbag market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific handbag market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific handbag market size, by country, 2017-2030 (US$M)
Asia Pacific Handbag Market Outlook Share, 2021 & 2030 (US$M)
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