Luxury Handbags Industry - Global Growth and Forecast – 2027
Market Synopsis: A luxury handbag or a luxury designer handbag is crafted from the finest materials to provide an exquisite look and finish. The main purpose of these premium bags is to make a style statement. They are available in different styles, materials, and sizes. Luxury handbags are commonly custom-made according to the needs of the buyer. The global luxury handbag market size is estimated to reach USD 33.94 Billion and record a CAGR of 6.8% by the end of 2024. The global market has been segmented on the basis of type, material type, consumer group, distribution channel, and region. Based on type, the global Luxury Handbags Industry is divided into clutches, crossbody bags, shoulder bags, satchels, hobo bags, tote bags, briefcases, and others. The clutches segment accounted for the largest share of the global Luxury Handbags Industry in 2018 due to the innovative style and utility of these bags. However, the briefcases segment is expected to register the highest growth r