India Handbags Market Research Report Highlights Key Findings in the Field of Vendor Landscape, Key Market Segments, Regions, Latest Trends and Drivers | Technavio


Supplier landscape

The market structure is expected to remain fragmented during the forecast period. Suppliers operating in the market adopt various marketing and growth strategies such as competitive pricing to compete in the market.

Baggit, Capri Holdings Ltd., Da Milano Leathers Pvt. Ltd., H & M Hennes & Mauritz AB, Hidesign, Kering SA, Lavie, LVMH Moet Hennessy – Louis Vuitton, The House of Tara and VIP Industries Ltd are among the few key suppliers in this market. Sellers compete with each other to maintain their position in the market. To be successful in this market, sellers must focus on providing competitively priced handbags.

Suppliers are also trying to expand their market presence and strengthen their product portfolio by entering into partnerships and launching new and innovative products.

For example, in March 2021, Capri Holdings Ltd announced the appointment of Alejandro Martinez-Galindo as Chief Information Officer of Capri Holdings.

See more on the highlights of the marketplace vendor landscape with a comprehensive list of vendors and their offerings.

Key market segmentation

  • Segmentation by product:
    • Pouches and wallets:
      • The segment has greatly contributed to the overall growth of the market in 2020.
      • Clutches and wallets was the largest segment of the market in 2020 and will continue to be so in 2025.
  • Segmentation by distribution channel:
    • Offline:
      • In terms of distribution channels, the offline retail segment generated maximum revenue in the market in 2020.
      • Offline retail channels are expected to represent the maximum number of handbag sales in the market during the forecast period. Offline retail channels such as convenience stores, hypermarkets and supermarkets, and outlet stores are the most popular and preferred channels for selling a wide range of handbags, as they offer a wide assortment of products under one roof.

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Revenue-generating segment
Rising disposable income, increasing Millennials’ spending on designer goods, growing demand for luxury wallets and premium leather, and growing number of working women in India are the main factors that are expected to boost the market. demand for pouches and wallets and thus drive the growth of the handbag market segment in India during the forecast period. Hence, the growth of the market segment is expected to be significant during the forecast period.

Download our FREE sample report for more highlights on the regional market share of most of the countries mentioned above.

Latest trends driving the handbag market in India

  • Handbags market in India Driver:
    • Increased production and distribution of Handbags:

Handbags are most often used by people all over the world, including India, to carry personal items. This encourages suppliers to increase their production and distribution across India. Distributors play an important role in the supply chain of several consumer goods, including handbags. With the changing buying behaviors and purchasing practices of consumers, the retail landscape is changing around the world, including India.

Growing internet connectivity and increasing adoption of smartphones further supports the emergence of online handbag retail in India. These factors will drive handbag sales through online retail channels in India during the forecast period.

  • India Handbags Market Trend:
    • Growing number of celebrity product recommendations:

One of the main trends in the handbag market is the growing number of celebrity product approvals. Most of the global and local suppliers present in the handbags market in India adopt marketing strategies such as product approval to increase their sales in various countries including India. Celebrity endorsements help sellers grab the attention of customers and improve the popularity of their products, which in turn is expected to increase handbag sales among consumers across the country.

Find additional information on various other market drivers and trends mentioned in our FREE sample report.

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Associated reports:

Tote Bag Market – TThe size of the Tote Bags market has the potential to grow by $ 5.85 billion over the period 2021-2025, and the market growth momentum will accelerate at a CAGR of 5.54%. Download a free sample now!

Luxury Handbag Market –The luxury handbag market has the potential to grow by USD 16.90 billion during the period 2021-2025, and the market growth momentum will accelerate at a CAGR of 5.60%.Download a free sample now!

Handbag market in India

Cover of the report

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth dynamics and CAGR

Accelerate to a CAGR of almost 5%

Market growth 2021-2025

$ 207.51 million

Market structure

Fragmented

Annual growth (%)

4.24

Regional analysis

India

Efficient contribution to the market

100% India

Main consumer countries

Afghanistan, Albania, Austria, Bahrain, Armenia and Armenia

Competitive landscape

Leading companies, competitive strategies, reach of consumer engagement

Profiled companies

Baggit, Capri Holdings Ltd., Da Milano Leathers Pvt. Ltd., H & M Hennes & Mauritz AB, Hidesign, Kering SA, Lavie, LVMH Moet Hennessy – Louis Vuitton, The House of Tara and VIP Industries Ltd.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Obstacles, Analysis of Fast Growing and Slow Growing Segments, Impact of COVID-19 and Future Consumer Dynamics, Analysis of Market Conditions for the Forecast Period.

Customization overview

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