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A handbag is a type of fashion accessory commonly used by women to carry personal items. Handbags are frequently made by stitching together different sizes, designs, and colours of cloth or leather. The most common types of handbags on the market are shoulder, satchel, handled, and sling bags. Gender-neutral bags are gaining popularity among consumers of all ages.
North America Handbag Market Report Scope and Research Methodology
The report is the guide for the organizations for the strategic planning, which includes North America Handbag market supply, trends, share and recent developments. The report assists in the analysis of the key players, price and revenue as well as North America Handbag Market industry sales channels, distributors, dealers and traders, company strengths, weaknesses, research findings, conclusion, data source and appendix.
The report covers key players in the North America Handbag industry including company profiles, Revenue, Price, product specifications, product capacity and sales and gross margin sales with in-depth examination of North America Handbag market’s competitive landscape with definite data on vendors. SWOT analysis was used to provide the strengths and weaknesses of the North America Handbag key players in the industry while the bottom-up approach used to estimate the regional and global North America Handbag market size.
North America Handbag Market Report Overview:
The research is based on forecasts from major organizations as well as North America Handbag Market statistics. The report on the North America Handbag Market enlightens about the growth variables, current market share, technological developments, applications, and regional penetrations by 2029.
North America Handbag Market Size was
valued at USD 10.2 billion in 2020. The North America Handbag Market
size is estimated to grow at a CAGR of 9.73 % over the forecast period.
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North America Handbag Market Regional Analysis:
The North America Handbag Market report consists of an analysis of all the regions: Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. The current state and the forecast of the regional North America Handbag market is provided in the report in terms of market size, share, and volume.
North America Handbag Market Segmentation:
As a result of the product, In 2020, the tote segment held 40% of the market. Because of the larger size of totes, women have been able to keep shopped products such as lipsticks, cosmetics, paperwork and notes, sanitizers, and other items. Furthermore, the easy disposal and reusability of such handbags contributes to the segment's continued growth.
Women nowadays prefer to carry small, trendy handbags to public events and parties. As a result of clutches' compact size and premium outlook, the clutch segment of the North American handbags market is expected to grow faster than other types.
The Satchel market is expected to grow significantly at a CAGR of 4.9% due to the softer material design, availability of straps, and rectangular shape of such bags over other varieties. Furthermore, rising consumer preference for satchels for daily office work, combined with the region's rising employment rate, is propelling the satchel category forward.
Women dominated the market by End User in 2020, accounting for 57% of the market. In the coming years, women's online spending is expected to more than double. The women's category has a significant market share due to the large number of women consumers who want apparel and accessory products on a regular basis. In February 2021, sales of women's clothing and accessories in U.S. retail outlets increased by 1.12% over the previous month. Handbags are also seen as a fashion statement in the fashion industry. Consumer demand for accessories has skyrocketed as a result of this trend, propelling the women's segment of the North American handbag market to new heights.
Men's demand for cross-body and hobo bags is primarily driven by changing outdoor leisure patterns in the region. Furthermore, rising fashion education and social media influence among millennial males are expected to drive segment growth.
North America Handbag Market Key Players:
Coach IP Holdings LLC (U.S.)
Louis Vuitton Malletier (France)
Chanel Ltd(France)
Guccio Gucci S.p.A.( Italy)
Prada S.p.A. (Italy)
Fendi (Italy)
Hermès International S.A.( France)
Kate Spade (U.S.)
Calvin Klein Inc. (U.S.)
Burberry Group PLC. ( Italy)
Tapestry, Inc (New York)
Michael Kors (New York)
Ted Baker plc ( United Kingdom)
Key Questions answered in the North America Handbag Market Report are:
Key offerings:
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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