NEW YORK , Jan. 16, 2023 /PRNewswire/ -- The India handbags market size is estimated to increase by USD 207.51 million from 2021 to 2026. The market's growth momentum will accelerate at a CAGR of 4.90% during the forecast period, according to Technavio - Request a sample report
India handbags market – Vendor analysis Pink Tote Bag
BAGGIT - The company offers handbags such as tote bags.
Da Milano Leathers Pvt. Ltd. - The company offers handbags such as sling bags.
Holii - The company offers handbags such as clutches.
Ladida LLC - The company offers handbags such as PU handbags.
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The India handbags market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer handbags in the market are BAGGIT, Da Milano Leathers Pvt. Ltd., H and M Hennes and Mauritz GBC AB, Hidesign, Holii, Ladida LLC, Lavie, LVMH Moet Hennessy Louis Vuitton SE, SAPL Industries Pvt. Ltd., and VIP Industries Ltd. and others.
Global vendors have established a strong foothold across India . They focus on developing innovative and unique products in terms of design, quality, and specifications to cater to the demand for handbags in the country. Prominent vendors are trying to establish a strong customer base in India by providing a wide variety of products, which will help them remain competitive and gain significant market revenue. They compete in terms of brand, quality, and price. Local manufacturers also offer a comprehensive range of handbags.
India handbags market - Customer landscape To help companies evaluate and develop growth strategies, the report outlines –
India handbags market - Segmentation assessment
Technavio has segmented the market based on product (clutches and wallets, shoulder bags, satchels and saddles, and totes) and distribution channel (offline and online).
The clutches and wallets segment will grow at a significant rate during the forecast period. Clutches are mainly used for carrying minimal essentials such as cosmetics, phones, small wallets, and cards. The growing disposable income, rising spending on designer products, growing demand for luxury and premium leather wallets, and increasing number of working women across India are expected to boost the demand for clutches and wallets. This, in turn, will drive the growth of the segment in the handbags market in India during the forecast period.
India handbags market – Market dynamics
Leading drivers - The expansion of retail and online distribution landscape is driving the growth of the market. Vendors are increasing their production and distribution across India . The retail landscape is evolving across the country, as consumers' preference is shifting from conventional stores to online channels. The growing Internet connectivity and the increasing adoption of smartphones further support the emergence of online retailing. Factors such as ease of purchasing, the availability of home-delivery options, the convenience of choosing from a wide variety of products attract buyers. These factors will boost the sales of handbags through online retail channels, which, in turn, will fuel the market growth during the forecast period.
Key trends - The personalization and customization of handbags is a key trend in the market. Apart from leather, handbags are made of a wide range of materials, such as denim, cotton canvas, jute, precious stones, and handicraft materials. Local vendors and boutique shops across India manufacture a wide range of customized and personalized handbags. Hence, the rising focus of vendors on the customization and personalization of handbags is expected to support the growth of the handbags market in India during the forecast period.
Major challenges - The threats associated with counterfeit products will challenge the handbags market in India during the forecast period. The presence of counterfeit handbags leads to an uneven competitive scenario. Vendors of counterfeit handbags sell their products at very low prices when compared to branded products. The growing penetration of e-commerce platforms among consumers has further increased the sales of counterfeit products. Moreover, customers face difficulties in distinguishing between genuine and counterfeit products. Thus, the increasing availability of several counterfeit products in offline and online distribution channels will negatively affect the sales and pricing strategies of genuine vendors in India , which will hinder the market's growth.
Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!
What are the key data covered in this India handbags market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of India handbags market between 2022 and 2026
Precise estimation of the size of the India handbags market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of India handbags market vendors
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The size of the handbags market in Brazil is expected to increase by USD 834.68 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.26%. This report extensively covers segmentation by distribution channel (offline and online) and product type (clutches and wallets, shoulder bags, satchels and saddles, and totes).
The size of the handbags market in the UK is projected to grow by USD 654.28 million with a CAGR of 4.48% during the forecast period 2021 to 2026. This report extensively covers segmentation by product (totebags, clutch, satchels, shoulder bags, and others) and distribution channel (offline and online).
Accelerate at a CAGR of 4.90%
Leading vendors, market positioning of vendors, competitive strategies, and industry risks
BAGGIT, Da Milano Leathers Pvt. Ltd., H and M Hennes and Mauritz GBC AB, Hidesign, Holii, Ladida LLC, Lavie, LVMH Moet Hennessy Louis Vuitton SE, SAPL Industries Pvt. Ltd., and VIP Industries Ltd.
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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Exhibit 08: Value chain analysis: Apparel, Accessories and Luxury Goods
1.Inputs
2. Inbound logistics
3. Operations
4. Outbound logistics
5. Marketing and sales
6. Service
7. Support activities
8. Innovations
Exhibit 09: Offerings of vendors included in the market definition
3.4 Market outlook: Forecast for 2021 - 2026
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 11: Global - Market size and forecast 2021 - 2026 ($ million)
Exhibit 12: Global market: Year-over-year growth 2021 - 2026 (%)
3.5 COVID-19 impact and recovery for the product segment
Exhibit 13: Five forces analysis 2021 & 2026
Exhibit 14: Bargaining power of the buyer
Exhibit 15: Bargaining power of the supplier
Exhibit 16: Threat of new entrants
Exhibit 19: Market condition - Five forces 2021
5. Market Segmentation by Product
Exhibit 20: Product- Market share 2021-2026 (%)
Exhibit 21: Comparison by Product
5.3 Totes - Market size and forecast 2021-2026
Exhibit 22: Totes - Market size and forecast 2021-2026 ($ million)
Exhibit 23: Totes - Year-over-year growth 2021-2026 (%)
5.4 Clutches and wallets - Market size and forecast 2021-2026
Exhibit 24: Clutches and wallets - Market size and forecast 2021-2026 ($ million)
Exhibit 25: Clutches and wallets - Year-over-year growth 2021-2026 (%)
5.5 Shoulder bags - Market size and forecast 2021-2026
Exhibit 26: Shoulder bags - Market size and forecast 2021-2026 ($ million)
Exhibit 27: Shoulder bags - Year-over-year growth 2021-2026 (%)
5.6 Satchels and saddles - Market size and forecast 2021-2026
Exhibit 28: Satchels and saddles - Market size and forecast 2021-2026 ($ million)
Exhibit 29: Satchels and saddles - Year-over-year growth 2021-2026 (%)
Exhibit 30: Market opportunity by Product
6. Market Segmentation by Distribution channel
Exhibit 31: Distribution channel - Market share 2021-2026 (%)
Exhibit 32: Comparison by Distribution channel
6.3 Offline - Market size and forecast 2021-2026
Exhibit 33: Offline - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Offline - Year-over-year growth 2021-2026 (%)
6.4 Online - Market size and forecast 2021-2026
Exhibit 35: Online - Market size and forecast 2021-2026 ($ million)
Exhibit 36: Online - Year-over-year growth 2021-2026 (%)
6.5 Market opportunity by Distribution channel
Exhibit 37: Market opportunity by Distribution channel
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
8. Drivers, Challenges, and Trends
8.1.1 Expansion of retail and online distribution landscape
8.1.2 Rising number of product endorsements by celebrities
8.1.3 Growing purchase of handbags by millennials and working women
8.2.1 Threats associated with counterfeit products
8.2.2 Long product replacement cycles
8.2.3 Volatility in raw material prices and presence of various local vendors
Exhibit 39: Impact of drivers and challenges
8.3.1 Personalization and customization of handbags
8.3.2 Increasing demand for eco-friendly and sustainable handbags
Exhibit 44: Market positioning of vendors
Exhibit 45: BAGGIT - Overview
Exhibit 46: BAGGIT - Product and service
Exhibit 47: BAGGIT - Key offerings
10.4 Da Milano Leathers Pvt. Ltd.
Exhibit 48: Da Milano Leathers Pvt. Ltd. - Overview
Exhibit 49: Da Milano Leathers Pvt. Ltd. - Product and service
Exhibit 50: Da Milano Leathers Pvt. Ltd. - Key offerings
10.5 H and M Hennes and Mauritz GBC AB
Exhibit 51: H and M Hennes and Mauritz GBC AB - Overview
Exhibit 52: H and M Hennes and Mauritz GBC AB - Business segments
Exhibit 53: H and M Hennes and Mauritz GBC AB - Segment focus
Exhibit 54: Hidesign - Overview
Exhibit 55: Hidesign - Product and service
Exhibit 56: Hidesign - Key offerings
Exhibit 57: Holii - Overview
Exhibit 58: Holii - Product and service
Exhibit 59: Holii - Key offerings
Exhibit 60: Ladida LLC - Overview
Exhibit 61: Ladida LLC - Product and service
Exhibit 62: Ladida LLC - Key offerings
Exhibit 63: Lavie - Overview
Exhibit 64: Lavie - Product and service
Exhibit 65: Lavie - Key offerings
10.10 LVMH Must Hennessy Louis Vuitton SE
Exhibit 66: LVMH Moet Hennessy Louis Vuitton SE - Overview
Exhibit 67: LVMH Moet Hennessy Louis Vuitton SE - Business segments
Exhibit 68: LVMH Moet Hennessy Louis Vuitton SE - Key offerings
Exhibit 69: LVMH Moet Hennessy Louis Vuitton SE - Segment focus
Exhibit 70: SAPL Industries Pvt. Ltd. - Overview
Exhibit 71: SAPL Industries Pvt. Ltd. - Product and service
Exhibit 72: SAPL Industries Pvt. Ltd. - Key offerings
Exhibit 73: VIP Industries Ltd. - Overview
Exhibit 74: VIP Industries Ltd. - Product and service
Exhibit 75: VIP Industries Ltd. - Key offerings
11.2 Currency conversion rates for US$
Exhibit 76: Currency conversion rates for US$
Exhibit 78: Validation techniques employed for market sizing
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Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ Newsroom: https://newsroom.technavio.org/news/handbagsmarket
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