The luxury bag market had a strong performance in 2020 and is predicted to maintain a steady revenue growth rate during the forecast period. The main drivers of this growth are the increased investment in research and development by various manufacturers to create and release innovative products with multiple accessories, and the rise in per capita income worldwide.
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Top Profiled Companies in the Global Luxury Bag Market Report:
LVMH, Furla SpA, De Rigo, Longchamp, Luxottica Group, Mulberry Group, Vera Bradley, Guccio Gucci S.p.A, Luxottica Group, Vera Bradley, Inc, and Samsonite International S.A, Tumi brand, Ralph Lauren Corporation, Burberry Group Plc, and Chloé.
The global consumer goods market revenue growth is primarily attributed to factors such as the rapid increase in global population, an increasing demand for food and other essential consumer goods such as healthcare nutrition, personal care hygiene, and electronic products, and the changing lifestyles and preferences of consumers, the growing demand for packaged and processed products in food and beverage, and the growing working population. Manufacturing and packaging techniques have advanced technologically, as well as the adoption of cutting-edge technologies such as artificial intelligence, the Internet of Things (IoT), big data analytics, robotics, and automation in the consumer goods industry. Other key factors driving global consumer goods market revenues include increasing awareness of the negative environmental effects of plastic packaging, as well as a growing demand for environmentally friendly and sustainable packaging solutions. Consumer income levels are expected to rise in developing economies such as India thanks to government regulations and guidelines regarding product quality and safety.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
Type Outlook (Revenue, USD Billion; 2018 – 2028)
- Handbag
- Shoulder Bags
- Satchel Bags
- Tote Bags
- Hobo Bags
- Duffle Bags
- Backpacks
- Laptop Bags
- Wallets
- Others
Material Outlook (Revenue, USD Billion; 2018 – 2028)
- Leather
- Nylon
- Cotton
- Synthetic
- Others
Gender Outlook (Revenue, USD Billion; 2018 – 2028)
- Men
- Women
- Unisex
Distribution Channel (Revenue, USD Billion; 2018 – 2028)
- Duty Free Stores
- Online Stores
- Hypermarkets
- Specialty Stores
Key Takeaways of the Global Luxury Bag Market Report:
- A comprehensive overview of the global Luxury Bag industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Luxury Bag market.
- Elaborate study of the leading regional markets in the global Luxury Bag market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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