Middle East & Africa Handbag Market Size & Outlook
Middle East & Africa handbag market, 2017-2030 (US$M)
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MEA handbag market highlights
- The MEA handbag market generated a revenue of USD 2,308.4 million in 2021.
- The market is expected to grow at a CAGR of 6.3% 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, South Africa is expected to register the highest CAGR from 2022 to 2030.
MEA data book summary
| Market revenue in 2021 | USD 2,308.4 million |
| Market revenue in 2030 | USD 3,999.3 million |
| Growth rate | 6.3% (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, MEA region accounted for 4.7% 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.
Key Regions: U.S. , UK , Brazil , South Africa , Germany
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Handbag Market Scope
Handbag Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa 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 40.51% in 2021. Horizon Databook has segmented the Middle East & Africa handbag market based on tote bag, clutch, satchel covering the revenue growth of each sub-segment from 2017 to 2030.
The rising female labor participation rate in the Middle East and Africa is a key factor driving the demand for and sales of handbags. The situation is expected to bode well for the demand for handbags across the region as women's disposable incomes have seen a rise. Government measures and modernized policies have aided Middle Eastern women to find work.
For instance, in 2020, the government of Saudi Arabia dismissed any sort of prohibitions related to the employment of pregnant women. Such efforts work in favor of the handbags market. As is the case with other international markets, the COVID-19 crisis severely impacted the Middle East & Africa handbag market, especially in the physical retail space.
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Our clientele includes a mix of handbag market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa handbag market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa handbag market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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MEA handbag market size, by country, 2017-2030 (US$M)
Middle East & Africa Handbag Market Outlook Share, 2021 & 2030 (US$M)
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