Clutch Bag Market size to grow at a CAGR of 5.56% from 2022 to 2027, Driven by the growing demand for luxury clutch bags - Technavio

NEW YORK, April 26, 2023 /PRNewswire/ -- The clutch bag market size is set to grow by USD 3,357.83 million from 2022 to 2027, and register a CAGR of 5.56%, according to Technavio's latest market research report. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers an up-to-date analysis of the current global market scenario with illustrative charts and graphs. View Sample Report

The report also covers the following areas:

• Clutch Bag Market size
• Clutch Bag Market trends
• Clutch Bag Market industry analysis

Clutch Bag Market 2023-2027: Segmentation

The clutch bag market is segmented as follows:

• Distribution Channel 
• Offline
• Online
• Type 
• Non-luxury Brand
• Luxury Brand
• Geography 
• Europe
• APAC
• North America
• Middle East And Africa
• South America

The market share growth by the offline segment will be significant for the market growth during the forecast period. Consumers' preference for buying clutch bags through new retail formats like signature stores, factory outlets, malls, and shopping centers has increased. This can be attributed to the convenience they offer. Therefore, the changing consumer preference is expected to drive the growth of the global market during the forecast period. Moreover, most of the clutch bag vendors have opened their own retail outlets to sell their products. Hence, such strategies and the opening of new brand-specific stores are expected to drive consistent sales growth through offline stores, which in turn is expected to propel the growth of the market in focus during the forecast period.

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Clutch Bag Market 2023-2027: Vendor Analysis and Scope

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Some of the major vendors of the clutch bag market in l4 industry include Abercrombie and Fitch Co., Acne Studios AB, adidas AG, Aeffe Spa, Bulgari S.p.A, Burberry Group Plc, Capri Holdings Ltd., CHANEL Ltd., CHARLESKEITH.COM Pte. Ltd, Dolce and Gabbana S.r.l, Fossil Group Inc., Giorgio Armani S.p.A., Hermes International SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Ralph Lauren Corp., Svala, Tapestry Inc., and VIP Industries Ltd.. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the clutch bag market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
Vendor Offerings

• Abercrombie and Fitch Co. - The company offers clutch bags such as Packable Beach Tote Bag, Structured Straw Basket Bag, and Scrunchie Handbag.
• adidas AG - The company offers clutch bags such as Crossbody Bag, Mini Drawstring Pouch, and Snake Graphic Waist Bag.
• Bulgari S.p.A - The company offers clutch bags such as Serpenti Clutch, Serpenti Cabochon Crossbody Mini Bag, and Serpenti Cabochon Crossbody Mini Bag.

Clutch Bag Market - Market Dynamics

Key Drivers

• The growing demand for luxury clutch bags is a major driver fueling the growth of the clutch bag market during the forecast period. 
• The demand for luxury bags is increasing due to an increase in consumer spending power globally.
• Additionally, major brands like Louis Vuitton, Burberry, Tommy Hilfiger, Dior, and Estee Lauder, have implemented AI-powered technologies to offer personalized and timely customer services.
• Through their AI-powered chatbots, these brands, sell products using targeted marketing, personalization, and timely automation, thus attracting more customers. 
• Baby boomers are viewed as prospective consumers of luxury goods for the home including clutch bags.
• Baby boomers make up 20% of the population in the US alone in 2021, and their purchases of luxury goods, such as clutch bags, accounted for more than 30% of all sales of personal luxury goods worldwide. 
• Hence, such factors influence the market growth for clutch bags during the forecast period.

Major Trends

• The availability of customized clutch bags is an emerging trend in the clutch bag market during the forecast period.
• Several developed countries along with several developing nations have witnessed a growing demand for customized goods, including clutch bags in the last few years.
• Customizations in bags usually comes with various options like personalized designs, names, and encrypted messages on bags.
• The bags can further be personalized with customers' choice of pictures on them. The level of personalization ranges from strap and buckles to embroidery or adding a name or a picture.
• For instance, Capri is one of the top suppliers of personalized clutch purses. The business increased the customizable services offered at all of its locations nationwide. 
• The concept of monogramming and embroidery is popular right now, especially in the luxury women's purse market. Capri's THE MONOGRAM SHOP is one such example. 
• Customers can have unique goods because of the customization, which supports market expansion through new purchases.
• Hence, such trends are expected to drive market growth during the forecast period.

Key Challenges

• The presence of counterfeit products is a major clutch bag market challenge impeding the growth.
• Counterfeit clutch bags are manufactured from flimsy, low-quality raw materials that may even be toxic for the skin of the users, which makes them less expensive than similarly named goods.
• Due to the similarities, customers occasionally struggle to understand the difference between real and fake goods.
• They are frequently duped by the appearance and feel of such counterfeit goods, and their negative experiences may reflect poorly on the legitimate companies that offer those goods.
• Hence, counterfeit products are a major threat hindering the clutch bag market growth during the forecast period.

To gain insights about drivers, trends, and challenges influencing the market growth, buy now!

Clutch Bag Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist clutch bag market growth during the next five years
• Estimation of the clutch bag market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the clutch bag market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of clutch bag market vendors

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Table Of Contents : 

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global clutch bag market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global clutch bag market 2017 - 2021 ($ million)

• 4.2 Distribution channel Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
• Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel 
• Exhibit 42: Market opportunity by Distribution Channel ($ million)
• Exhibit 43: Data Table on Market opportunity by Distribution Channel ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 44: Chart on Type - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 46: Chart on Comparison by Type
• Exhibit 47: Data Table on Comparison by Type

• 7.3 Non-luxury brand - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Non-luxury brand - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Non-luxury brand - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Non-luxury brand - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Non-luxury brand - Year-over-year growth 2022-2027 (%)

• 7.4 Luxury brand - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Luxury brand - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Luxury brand - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Luxury brand - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Luxury brand - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 56: Market opportunity by Type ($ million)
• Exhibit 57: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027 
• Exhibit 67: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 France - Market size and forecast 2022-2027 
• Exhibit 91: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.11 Italy - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Italy - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Italy - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Italy - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Italy - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Abercrombie and Fitch Co. 
• Exhibit 111: Abercrombie and Fitch Co. - Overview
• Exhibit 112: Abercrombie and Fitch Co. - Business segments
• Exhibit 113: Abercrombie and Fitch Co. - Key offerings
• Exhibit 114: Abercrombie and Fitch Co. - Segment focus

• 12.4 adidas AG
• Exhibit 115: adidas AG - Overview
• Exhibit 116: adidas AG - Business segments
• Exhibit 117: adidas AG - Key news
• Exhibit 118: adidas AG - Key offerings
• Exhibit 119: adidas AG - Segment focus

• 12.5 Bulgari S.p.A
• Exhibit 120: Bulgari S.p.A - Overview
• Exhibit 121: Bulgari S.p.A - Product / Service
• Exhibit 122: Bulgari S.p.A - Key offerings

• 12.6 Burberry Group Plc
• Exhibit 123: Burberry Group Plc - Overview
• Exhibit 124: Burberry Group Plc - Business segments
• Exhibit 125: Burberry Group Plc - Key offerings
• Exhibit 126: Burberry Group Plc - Segment focus

• 12.7 Capri Holdings Ltd.
• Exhibit 127: Capri Holdings Ltd. - Overview
• Exhibit 128: Capri Holdings Ltd. - Business segments
• Exhibit 129: Capri Holdings Ltd. - Key news
• Exhibit 130: Capri Holdings Ltd. - Key offerings
• Exhibit 131: Capri Holdings Ltd. - Segment focus

• 12.8 CHANEL Ltd.
• Exhibit 132: CHANEL Ltd. - Overview
• Exhibit 133: CHANEL Ltd. - Business segments
• Exhibit 134: CHANEL Ltd. - Key offerings
• Exhibit 135: CHANEL Ltd. - Segment focus

• 12.9 Dolce and Gabbana S.r.l 
• Exhibit 136: Dolce and Gabbana S.r.l - Overview
• Exhibit 137: Dolce and Gabbana S.r.l - Product / Service
• Exhibit 138: Dolce and Gabbana S.r.l - Key offerings

• 12.10 Fossil Group Inc.
• Exhibit 139: Fossil Group Inc. - Overview
• Exhibit 140: Fossil Group Inc. - Business segments
• Exhibit 141: Fossil Group Inc. - Key offerings
• Exhibit 142: Fossil Group Inc. - Segment focus

• 12.11 Giorgio Armani S.p.A. 
• Exhibit 143: Giorgio Armani S.p.A. - Overview
• Exhibit 144: Giorgio Armani S.p.A. - Product / Service
• Exhibit 145: Giorgio Armani S.p.A. - Key offerings

• 12.12 Hermes International SA 
• Exhibit 146: Hermes International SA - Overview
• Exhibit 147: Hermes International SA - Business segments
• Exhibit 148: Hermes International SA - Key offerings
• Exhibit 149: Hermes International SA - Segment focus

• 12.13 Kering SA
• Exhibit 150: Kering SA - Overview
• Exhibit 151: Kering SA - Business segments
• Exhibit 152: Kering SA - Key offerings
• Exhibit 153: Kering SA - Segment focus

• 12.14 LVMH Moet Hennessy Louis Vuitton SE 
• Exhibit 154: LVMH Moet Hennessy Louis Vuitton SE - Overview
• Exhibit 155: LVMH Moet Hennessy Louis Vuitton SE - Business segments
• Exhibit 156: LVMH Moet Hennessy Louis Vuitton SE - Key news
• Exhibit 157: LVMH Moet Hennessy Louis Vuitton SE - Key offerings
• Exhibit 158: LVMH Moet Hennessy Louis Vuitton SE - Segment focus

• 12.15 Ralph Lauren Corp.
• Exhibit 159: Ralph Lauren Corp. - Overview
• Exhibit 160: Ralph Lauren Corp. - Business segments
• Exhibit 161: Ralph Lauren Corp. - Key offerings
• Exhibit 162: Ralph Lauren Corp. - Segment focus

• 12.16 Tapestry Inc.
• Exhibit 163: Tapestry Inc. - Overview
• Exhibit 164: Tapestry Inc. - Business segments
• Exhibit 165: Tapestry Inc. - Key offerings
• Exhibit 166: Tapestry Inc. - Segment focus

• 12.17 VIP Industries Ltd.
• Exhibit 167: VIP Industries Ltd. - Overview
• Exhibit 168: VIP Industries Ltd. - Product / Service
• Exhibit 169: VIP Industries Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 170: Inclusions checklist
• Exhibit 171: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 172: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 173: Research methodology
• Exhibit 174: Validation techniques employed for market sizing
• Exhibit 175: Information sources

• 13.5 List of abbreviations 
• Exhibit 176: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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