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Handbag Market To Reach $81.79Bn By 2030 | CAGR: 6.5%

Handbag Market To Reach $81.79 Billion By 2030 | CAGR: 6.5%

May 2025 | Report Format: Electronic (PDF)

Handbag Market Growth & Trends

The global handbag market is anticipated to reach USD 81.79 billion by 2030 and expand at a CAGR of 6.5% during the forecast period, according to a new report by Grand View Research, Inc. Rising disposable income allows consumers to invest in high-quality and designer handbags, elevating market demand. With improved purchasing power, individuals are drawn to premium brands and limited-edition collections. In addition, diverse product innovations, including customizable, eco-friendly, and multifunctional designs, caters to varying preferences and lifestyles. This variety enhances consumer engagement, encouraging frequent purchases and experimentation. The combination of financial capability and creative offerings positions this market for sustained growth and a broad customer base.

Urbanization fosters demand for handbags that blend practicality with style, suiting busy metropolitan lifestyles. Improved retail accessibility in urban hubs allows consumers to explore diverse options, while online platforms enhance convenience. E-commerce enables customers to browse vast collections, compare prices, and enjoy doorstep delivery, attracting a tech-savvy audience. This dual-channel presence bridges traditional and modern shopping preferences, driving sales of handbags and widening the market’s geographical reach, particularly in urbanized regions.

With increasing exposure to global trends, fashion-conscious consumers seek handbags as an essential style statement. Handbags are no longer mere accessories. They symbolize status and identity, fueling their appeal. Moreover, the rise in gifting culture has positioned handbags as ideal presents for diverse occasions. The blend of style and utility makes them a preferred choice for both personal use and gifts. The evolving consumer behavior significantly contributes to the expanding handbag market.

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Handbag Market Report Highlights

Based on product, the tote bag segment led the market with the largest share of 41.1% in 2024, attributed toits versatility, spacious design, and growing popularity among consumers.
The satchel segment is set to be the fastest-growing segment from 2025 to 2030, driven byits ideal combination of style and practicality.
Based on the distribution channel, the offline segment accounted for the largest revenue share in 2024 due toits personalized shopping experience and tangible product evaluation.
The fabric segment is projected to grow at significant rate over the forecast period, propelled byits versatility, eco-friendliness, and lightweight appeal.
North America dominated the global market with the largest share of 31.0% in 2024, owing tohigh disposable income, strong fashion awareness, and widespread brand loyalty.
Asia Pacific is anticipated to be the fastest-growing region during the forecast period due to the surge in urbanization and growing preference for luxury and premium brands in the region.