$7.47 Billion Growth in Tote Bag Market | 33% of market growth will come from APAC


NEW YORK , May 5, 2022 /PRNewswire/ — The latest market analysis report titled “Tote Bags Market by Distribution Channel and Geography – Forecast and Analysis 2022-2026is now added to Technavio’s catalog. The difference in tote bags market potential growth will be $7.47 billion from 2021 to 2026, according to the market report outlook. The market is also expected to witness an acceleration in growth momentum with a CAGR of 6.37% during the forecast period.

Technavio has announced its latest market research report titled Tote <a class=Bag Market by Distribution Channel and Geography – Forecast and Analysis 2022-2026″ src=”https://s.yimg.com/ny/api/res/1.2/Rl5apbB9ebQGYIrUQPxLtg–/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM5Nw–/https://s.yimg.com/uu/api/res/1.2/vAPrUVtgeGye.NKIkEzApA–~B/aD0yMjU7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/prnewswire.com/313eda676b425853ca55fdd63549966a”/>

Technavio has announced its latest market research report titled Tote Bag Market by Distribution Channel and Geography – Forecast and Analysis 2022-2026

For more information on CAGR and YOY analysis, Read our sample report

Key market dynamics

  • Personalization and personalization of luxury tote bags is one of the major drivers for the growth of the tote bag market. The extent of customization and personalization can vary from webbing and buckles to embroidery or including a name tag. Customization allows shoppers to personalize their tote bags, making them more expensive than standard products. An increase in customization and personalization of tote bags is overall complementing the growth of the market owing to the high price of these bags and new purchases. This is expected to propel the sales value of the global tote bags market over the forecast period.

  • Fluctuating operational costs including labor, logistics, and raw material costs are one of the challenges limiting the growth of the tote bags market. The tote bag manufacturing process involves sourcing and using several raw materials, depending on the type of bag. Transportation costs, which include taxes, duties and fuel prices, are borne by manufacturers at different stages. The major part of the transportation costs incurred by a seller is the cost of fuel, which fluctuates frequently. An increase in transportation costs increases the cost of finished products. However, as the market is highly competitive, it prevents sellers from raising prices for finished goods, thereby reducing profit margins.

Download a sample copy of the report here learn more about the key factor influencing the market

Competitive analysis

The tote bag market is fragmented and the vendors are deploying growth strategies such as new product launches and mergers and acquisitions to compete in the market. The report includes Competitive Analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors to classify players into four categories. Some of these factors considered for analysis are financial performance over the past 3 years, growth strategies, innovation score, new product launches, investments, market share growth, etc

Company Profiles

Tote Bag market report provides comprehensive information about major vendors including Burberry Group Plc, Capri Holdings Ltd., CHANEL Ltd., Dolce and Gabbana Srl, Double R Bags, Giorgio Armani Spa, Hermes International SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Mulberry Group Plc, PRADA Group, PVH Corp. , Ralph Lauren Corp., Ronak Industries, Samsonite International SA, Tapestry Inc., Targus Inc., Tods Spa, VF Corp. and VIP Industries Ltd. Some of the key offerings from major market players are also covered in this report. For example, Burberryplc.com offers tote bags such as the Freya Mini and Small Tote in Two-Tone Canvas and Leather, the Freya Small and Medium Knitted Plaid Tote, the Freya Medium Striped Wool and Leather Tote, and the Frances Bag medium in grained leather. chanel.com offers tote bags such as the Chanel Vertical Black Caviar Leather Kelly Bag, the Vertical Black Caviar Leather Kelly Bag, and the Chanel Medallion Tote.

Get a sample copy of the report for offers and information from major suppliers

Market Segmentation Highlights

  • By distribution channel, the market is classified into offline and online. The offline distribution channel segment held the largest tote bag market share in 2021. Growth in the retail industry and establishment of numerous retail outlets are driving the sales in this segment. These outlets offer consumers a wide range of tote bags and give them the opportunity to find everything under one roof. Tremendous growth in retail channels by vendors operating in the market across the globe will foster consumers’ familiarity with different types of tote bags and increase the sales of tote bags globally during the period. forecast.

  • By geography, the market is classified as EuropeACPA, North America, Middle East and Africaand South America. APAC will have the largest market share. 33% of the market growth will come from APAC during the forecast period. China and Japan and Germany are the key markets for the tote bag market in APAC. Market growth in this region will be faster than market growth in other regions. The increasing urbanization will facilitate the growth of the tote bag market in APAC over the forecast period.

Download a sample copy of the report for more information on key market segments and their contribution

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Tote Bag Market Scope

Report cover

Details

Page number

120

base year

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 6.37%

Market Growth 2022-2026

$7.47 billion

Market structure

Fragmented

Annual growth (%)

5.29

Regional analysis

Europe, APAC, North America, Middle East & Africa and South America

Successful market contribution

APAC at 33%

Main consumer countries

United States, China, Japan, France, United Kingdom and Germany

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Burberry Group Plc, Capri Holdings Ltd., CHANEL Ltd., Dolce and Gabbana Srl, Double R Bags, Giorgio Armani Spa, Hermes International SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Mulberry Group Plc, PRADA Group, PVH Corp. , Ralph Lauren Corp., Ronak Industries, Samsonite International SA, Tapestry Inc., Targus Inc., Tods Spa, VF Corp. and VIP Industries Ltd.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Distribution Channel

6 Customer Landscape

7 Geographic landscape

8 drivers, challenges and trends

9 Supplier Landscape

10 Vendor Analysis

11 Appendix

About Us
Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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