In 2020, the global handbag market was valued at USD 47.57 billion. In the period 2021-2028, the market is expected to increase at a CAGR of 6.7 percent, from USD 49.63 billion in 2021 to USD 78.46 billion in 2028.
Females between the ages of 15 and 64 are the primary consumers of handbags, with more than half of the female population in this age range accounting for the market's potential customers globally, according to gender demographics.
From 2019 to 2026, the luxury handbag market is predicted to grow at a CAGR of 5.6 percent, from $58.3 billion in 2018 to $89.9 billion in 2026.
A market analysis is a comprehensive examination of a market within a particular industry. You will examine the dynamics of your market, such as volume and value, possible client categories, buying patterns, rivalry, and other crucial elements, using this analysis.
The purse and handbag business has shown to be successful year after year, thanks to a growing demand. If you want to sell purses but want to get a feel for the industry first, consider selling wholesale handbags rather than producing your own.
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