Global Leather Handbag Market was valued at USD 53.45 billion in 2022 and expected to grow at a CAGR of 4.4% during the forecast period.
Leather handbags are a type of fashion accessory made from animal hides that are treated and dyed to produce a range of textures, colors, and patterns. These handbags are popular among both men and women and are available in a variety of styles, sizes, and designs. Leather handbags are known for their durability, high-quality craftsmanship, and timeless style, making them a popular choice for those looking for a long-lasting and fashionable accessory.
The global leather handbag market is influenced by several factors, including changing fashion trends, increasing disposable income, and rising consumer preferences for luxury goods. The growing number of working women and their increasing purchasing power is driving the demand for high-end leather handbags. The emergence of online sales channels, increasing urbanization, and the growing popularity of social media are also contributing to the growth of the market.
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Report Scope: –
On the other hand, the market is also facing challenges due to the availability of low-cost synthetic materials that mimic the look and feel of leather, growing concerns over animal rights, and the high cost of genuine leather. In addition, the outbreak of the COVID-19 pandemic has resulted in supply chain disruptions, reduced consumer spending, and temporary store closures, which have negatively impacted the market. However, the market is expected to recover gradually as the global economy recovers and consumer spending resumes.
Global Leather Handbags Market Dynamics
- Feasibility and convenience of leather handbags
The growing demand for convenient, fashionable and comfortable leather handbags, as well as the growing number of working people overall the globe are some of the major factors which are expected to drive the growth rate of the leather handbags market during the forecast period.
- Growing fashion consciousness
Increasing fashion consciousness among women and men attracts several brands to increase their product portfolio in the men’s and women’s segments. Apart from the traditional handbags, recent affordable leather handbags are also gaining importance in the overall market.
Opportunities
- Technological advancement
The advent of the latest technologies such as robotics and 3D printing which helps in producing the trendy leather handbags in minimum time will create beneficial opportunities for the growth of the leather handbags market.
- Development of new start-ups
Numerous startups have come up with the customized leather handbags according to the demand of consumers. For instance, 1Atelier allows consumers to customize the hardware and color of their leather handbags. High unit price and strong brand recognition are expected to drive the sales of leather handbags in the market.
Furthermore, due to the growth of many e-commerce companies, major market vendors in the leather goods industry are choosing to sell their goods through online platforms to secure a more diverse consumer base, as it allows vendors to advertise their goods with large discounts and offers to entice consumers. This is also the major factor which will create immense opportunities for the growth of the leather handbags market
Restraints/Challenges
- Rising concern over animal killing
The unethical killing of several animals for manufacturing leather handbags is attracting the attention of numerous animal lover consumers. The growing concerns regarding animal killing among luxury consumers have certainly affected the demand of the leather product which will restraint the growth of the leather handbags market.
- High cost associated with raw materials
Increasing fluctuations in the prices of raw material prices which are used for the manufacture of leather handbags are expected to limit the growth of the leather handbags market
Impact of COVID
The COVID-19 pandemic has had both positive and negative impacts on the Leather Handbag market. The COVID-19 pandemic has had a significant impact on the healthcare industry as a whole, including the cardiovascular device market.
Device Type Insights
Diagnostic and Monitoring Devices: This segment held the largest market share in 2020, accounting for approximately 40% of the total Leather Handbag market. The increasing prevalence of
Application Insights
Coronary Artery Disease: This segment held the largest market share in 2020, accounting for approximately 45% of the total Leather Handbag market. The high prevalence of coronary artery disease and the increasing adoption of minimally invasive procedures are the key factors driving the growth of this segment.
Market Segmentation:
By Product Outlook (Tote Bag, Clutch, Satchel),
By Distribution Channel (Online, Offline)
Key Player:
Some of the major companies operating within the market are
B Braun Melsungen AG,
Abbott,
Johnson & Johnson Services, Inc.,
Medtronic,
Boston Scientific Corporation,
LivaNova Plc,
Edwards Lifesciences Corporation,
GE Healthcare,
Siemens Healthcare GmbH,
Terumo Cardiovascular Systems Corporation.
These players are focusing on product innovation, expansion, and partnerships to strengthen their market position and meet the growing demand for Leather Handbag globally.
Regional Analysis:
North America: This region held the largest market share in 2020, accounting for approximately 40% of the total Leather Handbag market. The presence of advanced healthcare infrastructure, increasing prevalence of cardiovascular diseases, and high adoption of technologically advanced devices are the key factors driving the growth of this region.
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The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in-depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
- Business Model
- Production Capacity, Revenue, Sales, Gross Margin
- Key Business Strategy
- SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
- Company Share Analysis from 2018-2022
- Company Analysis by Revenue and Sales
- Company Production Capacity, Gross Margin
- Company Share Analysis by Application/End Use
- Company Share Analysis by Product/Specification
Key Points:
- Define, describe and forecast Leather Handbag market by type, application, end user and region.
- Provide strategies for company to deal with the impact of COVID-19.
- Provide enterprise external environment analysis and PEST analysis.
- Provide market dynamic analysis, including market driving factors, market development constraints.
- Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
- Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy.
- Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
- Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
- Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
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