Industry Background:
A handbag is a typically and fashionably designed handled bag used to hold essential items of personal use. It is typically larger than a purse or pouch & holds objects beyond currency, such as mobile phones & other personal items. Fashion researchers keep a keen eye on fashion initiators to understand which specific designs & colors are trending during a particular year. Leathers handbags are durable and has high strength compared to bags made from other material. The most trending factor driving the sales of leather handbags are different designs & styles of handbags rather than few limited designs as seen in the previous decade. Many colors are trending in the leather handbags market, as previously only hue colors such as black, brown, tan, & grey dominated the leather handbags collections in retail stores. These days, leather handbags with prints & pastel colors are becoming popular. Further, retro & classic designs are always in the trending collections, irrespective of summer or spring seasons.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Samsonite International S.A. (Hong Kong), VIP Industries Limited (India), Louis Vuitton (France) ,, Hermes International S.A. (France) ,, Delsey S.A (France) and, Prada S.P.A (Italy), Goldlion (Singapore), Tucano (Italy), Knoll, Inc. (United States), American Leather, Inc. (United States), Aero Leather Clothing Ltd. (United Kingdom), The Timberland Company (United States) and Johnston & Murphy (United States) |
This growth is primarily driven by Improved Durability of Leather Goods, Increasing Need for Protective Leather Handbags for Electronic Products and Increasing attractiveness for fashionable handbags with high durability.
Globally, a noticeable market trend is evident Growing trend of convertible sack bags into handbags
Major Vendors, such as Samsonite International S.A. (Hong Kong), VIP Industries Limited (India), Louis Vuitton (France) ,, Hermes International S.A. (France) ,, Delsey S.A (France) and, Prada S.P.A (Italy), Goldlion (Singapore), Tucano (Italy), Knoll, Inc. (United States), American Leather, Inc. (United States), Aero Leather Clothing Ltd. (United Kingdom), The Timberland Company (United States) and Johnston & Murphy (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Very few number of manufacturers are producing leather goods due to stringent government regulations on the leather goods as well as due to the negative influence of PETA on leather goods manufacturing. Thus, number of manufacturers are shifting their focus from leather goods to other material goods. Thus, the leather handbags market possess moderate competition in the global market.Players are expected to gain business from customized and made to order designs in the leather handbags market.
Regulatory Insights:
The Regulation of the European Union (EU) on registration, evaluation, authorisation and restriction of chemicals use in the Leather Goods. Its proclaimed aim is to ensure a high level of protection of human health and the environment as well as the free movement of substances, on their own, in preparations and in articles, while enhancing competitiveness and innovation. This Regulation should also promote the development of alternative methods for the assessment of hazards of substances.
Influencing Trend:
Growing trend of convertible sack bags into handbags and Leather handbags with prints and pastel colors are becoming popular
Market Growth Drivers:
Improved Durability of Leather Goods, Increasing Need for Protective Leather Handbags for Electronic Products and Increasing attractiveness for fashionable handbags with high durability
Challenges:
Threat of Substitutes and Stringent regulations
Restraints:
Comparatively Costly as compared to Conventional Leather Products and Lack of Raw Material Availability
Opportunities:
Growing demand due to Increase in Disposable Incomes and Emerging markets
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Leather Handbags Market
- Analysis about New Entrants in Leather Handbags Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Leather Handbags Study Sheds Light on
The Leather Handbags Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Leather Handbags industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Leather Handbags industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.