India handbags market Size to Grow by USD 207.51 million from 2021 to 2026: A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio

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

• 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.
• For details on vendors and their offerings – Buy the report!

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 –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

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.

Download a sample report

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

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports:

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).

Browse for Technavio's consumer discretionary market reports

Table of contents

1. Executive Summary 

  1.1  Market Overview 

  Exhibit 01:  Key Finding 1

  Exhibit 02:  Key Finding 2

  Exhibit 03:  Key Finding 5

  Exhibit 04:  Key Finding 6

  Exhibit 05:  Key Finding 7

2. Market Landscape 

  2.1 Market ecosystem 

  Exhibit 06:  Parent market

  Exhibit 07:  Market characteristics

  2.2 Value Chain Analysis 

  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

3. Market Sizing 

  3.1 Market definition

  Exhibit 09:  Offerings of vendors included in the market definition

  3.2 Market segment analysis 

  Exhibit 10:  Market segments

  3.3 Market size 2021 

  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  

4. Five Forces Analysis 

  4.1 Five Forces Summary 

  Exhibit 13:  Five forces analysis 2021 & 2026

  4.2 Bargaining power of buyers 

  Exhibit 14: Bargaining power of the buyer

  4.3 Bargaining power of suppliers 

  Exhibit 15: Bargaining power of the supplier

  4.4 Threat of new entrants 

  Exhibit 16: Threat of new entrants

  4.5 Threat of substitutes 

  Exhibit 17: Threat of substitutes

  4.6 Threat of rivalry 

  Exhibit 18: Threat of rivalry

  4.7 Market condition

  Exhibit 19: Market condition - Five forces 2021

5. Market Segmentation by  Product

  5.1 Market segments

  Exhibit 20:  Product- Market share 2021-2026 (%)

  5.2 Comparison by Product 

  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 (%)

  5.7 Market opportunity by Product 

  Exhibit 30:  Market opportunity by Product

6. Market Segmentation by Distribution channel 

  6.1 Market segments

  Exhibit 31: Distribution channel - Market share 2021-2026 (%)

  6.2 Comparison by Distribution channel 

  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

7. Customer landscape 

  Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

  Exhibit 38:  Customer landscape

8. Drivers, Challenges, and Trends 

  8.1 Market Driver 

  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 Market challenges 

  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 Market trends 

  8.3.1  Personalization and customization of handbags 

  8.3.2  Increasing demand for eco-friendly and sustainable handbags

  8.3.3  Business strategies

9. Vendor Landscape 

  9.1 Overview

  Exhibit 40:  Vendor landscape

  9.2 Landscape disruption 

  Exhibit 41:  Landscape disruption

  Exhibit 42:  Industry risks

10. Vendor Analysis 

  10.1 Vendors covered 

  Exhibit 43: Vendors covered

  10.2 Market positioning of vendors 

  Exhibit 44: Market positioning of vendors

  10.3 BAGGIT

  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

  10.6 Hidesign  

  Exhibit 54:  Hidesign  - Overview

  Exhibit 55:  Hidesign  - Product and service

  Exhibit 56:  Hidesign  - Key offerings

  10.7 Holii 

  Exhibit 57:  Holii - Overview

  Exhibit 58:  Holii - Product and service

  Exhibit 59:  Holii - Key offerings

  10.8 Ladida LLC 

  Exhibit 60:  Ladida LLC - Overview

  Exhibit 61:  Ladida LLC - Product and service

  Exhibit 62:  Ladida LLC - Key offerings

  10.9 Lavie 

  Exhibit 63:  Lavie - Overview

  Exhibit 64:  Lavie - Product and service

  Exhibit 65:  Lavie - Key offerings

  10.10 LVMH Moet 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

  10.11 SAPL Industries Pvt. Ltd. 

  Exhibit 70:  SAPL Industries Pvt. Ltd. - Overview

  Exhibit 71:  SAPL Industries Pvt. Ltd. - Product and service

  Exhibit 72:  SAPL Industries Pvt. Ltd. - Key offerings

  10.12 VIP Industries Ltd 

  Exhibit 73:  VIP Industries Ltd. - Overview

  Exhibit 74:  VIP Industries Ltd. - Product and service

  Exhibit 75:  VIP Industries Ltd. - Key offerings

11. Appendix 

  11.1 Scope of the report 

  11.1.1 Market definition

  11.1.2 Objectives

  11.1.3 Notes and caveats

  11.2 Currency conversion rates for US$ 

  Exhibit 76: Currency conversion rates for US$

  11.3 Research Methodology 

  Exhibit 77: Research Methodology

  Exhibit 78: Validation techniques employed for market sizing

  Exhibit 79: Information sources

  11.4 List of abbreviations 

  Exhibit 80: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
Newsroom: https://newsroom.technavio.org/news/handbagsmarket

SOURCE Technavio