Women’s Handbags Market Revenue, Applications and Market Driving Factors Forecast Till 2022

The Global Women’s Handbags Market is anticipated to rise at a significant CAGR in the forthcoming period. Handbag designs and purse for women is a bigger commercial industry worldwide. In particular, women consumers have a huge demand for fashionable bags which can also be used as a briefcase, laptop and etc., hence, handbags play a vital role in women’s life. On a specific note, a handbag can reveal about a woman’s age, style and appeal which can tell more about her beauty. Apart from being a fashion statement, handbags must be large, sturdy and functional to support the need of lifestyle and lifestyle itself.

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From the commercial standpoint, a women’s handbag may come in different forms such as shoulder bag, wedding bag, barrel/duffel bag, clutch/purse, laptop purse/bag, envelope bag, messenger bag and cosmetic bag. The women’s handbags market is driven by factors such as favorable economic conditions triggering consumer confidence coupled with rise in disposable income. Rise in social media coupled with advent of e-commerce adds to the growth of women’s handbags industry. Internet and social media marketing helps manufacturers and retailers to advertise their products thus accelerating the online and retail stores.

However, market restraints such as local copies of brands and cheaper availability of such is likely to hamper the market growth in the forthcoming period. Stringent norms and regulations pertaining to luxury handbags are also expected to hinder the growth of women’s handbags market in the forthcoming period. Geographical segmentation for women’s handbags industry includes North America, South America, Europe, Asia-Pacific, Middle-East and Africa.

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North America women’s handbags industry is expected to witness a staggering growth in the forthcoming period due to rising demand for handbags and accessories coupled with strengthening of economic conditions. APAC women’s handbags industry is anticipated to witness a staggering growth in the forthcoming period due to proliferation of internet, social media and e-commerce. The key players in the women’s handbags market include Marcus, Urban Expressions, Becarro International, Excel Handbags Co, Double J Saddlery, Baikal Inc, Terner’ of Miami Corp, Judith Leiber, America Sewing & Packaging Inc, Teague William & Co, Spilene, Designer Bags & Accessories, Dooney & Bourke PR and Coach Stores.