Vendor Landscape
The market structure is expected to remain fragmented during the forecast period. Vendors are deploying growth strategies such as product innovation to compete in the market.
Baggit, Capri Holdings Ltd., Da Milano Leathers Pvt. Ltd., H & M Hennes & Mauritz AB, Hidesign, Kering SA, Lavie, LVMH Moet Hennessy - Louis Vuitton, The House of Tara, and VIP Industries Ltd. among others are some of the few key vendors competing to maintain their market position in the market.
View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.
Key Market Segmentation
- Handbags Market In India: Product Landscape:
- Clutches and wallets:
- The growth of the clutches and wallets segment is expected to be significant during the forecast period.
- The rising disposable income, growing spending by millennials on designer products, surging demand for luxury and premium leather wallets, and the increasing number of working women across India are the major factors that are expected to drive the demand for clutches and wallets. This will drive the growth of the segment in the handbags market in India during the forecast period.
- Shoulder bags
- Satchels and saddles
- Totes
- Handbags Market In India: Distribution Channel Landscape:
- Offline:
- Offline constituted the largest segment in 2020.
- The offline segment comprises convenience stores, department stores, airport retail stores, multi-brand stores, apparel stores, factory outlets, hypermarkets and supermarkets, and other retail outlets.
- Online
Request a FREE Sample of this report for more highlights into the market segments.
Latest Trends and Drivers in the Handbags Market in India
- Market Driver:
- Expansion of the retail and online distribution landscape:
Vendors are increasing their production and distribution across India. Distributors play an important role in the supply chain of several consumer goods, including handbags. The retail landscape is evolving across the world, with changes in consumer purchasing behavior and buying practices. The purchasing preference of consumers is shifting from conventional stores to online channels. The increasing Internet connectivity and the growing adoption of smartphones further support the online retailing of handbags in India. These factors will drive the sales of handbags through online retail channels in India during the forecast period.
- Market Trend:
- Rising number of product endorsements by celebrities:
Many global and local vendors in the handbags market in India are adopting marketing strategies such as product endorsement to increase their sales. Celebrity endorsements help vendors in gaining the attention of customers and improving the popularity of their products. This, in turn, is expected to fuel the sales of handbags among consumers across the country. In addition, celebrity endorsements help in developing and strengthening the trust of customers in the quality of products offered by their brands. This, in turn, is expected to foster the growth of the handbag market in India during the forecast period.
Find additional information about various other market drivers & trends mentioned in our FREE sample report.
Need More? Are You Looking for Information Not Covered in This Report?
- Want to understand more about the various research methodology?
- Evaluate a specific segment or region in detail
- Identify key suppliers, customers, or other market players
- Analyze market regulations
Tailor this report according to your needs. Get it done with our USD 1000 worth of free customization. Speak to Our Analyst Now!
Related Reports:
Luggage Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2021-2025
Luxury Handbags Market by Distribution Channel and Geography - Forecast and Analysis 2021-2025
Handbags Market In India Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5% |
Market growth 2021-2025 |
USD 207.51 million |
Market structure |
Fragmented |
YoY growth (%) |
4.24 |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Baggit, Capri Holdings Ltd., Da Milano Leathers Pvt. Ltd., H & M Hennes & Mauritz AB, Hidesign, Kering SA, Lavie, LVMH Moet Hennessy - Louis Vuitton, The House of Tara, and VIP Industries Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
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/
SOURCE Technavio
Share this article