Market Overview
The global Leather Handbag market was valued at USD 53.45 billion in 2022 and expected to grow at a CAGR of 4.4% during the forecast period. Leather handbags are a type of fashion accessory made from animal hides that are treated and dyed to produce a range of textures, colors, and patterns. These handbags are popular among both men and women and are available in a variety of styles, sizes, and designs. Leather handbags are known for their durability, high-quality craftsmanship, and timeless style, making them a popular choice for those looking for a long-lasting and fashionable accessory.
The global leather handbag market is influenced by several factors, including changing fashion trends, increasing disposable income, and rising consumer preferences for luxury goods. The growing number of working women and their increasing purchasing power is driving the demand for high-end leather handbags. The emergence of online sales channels, increasing urbanization, and the growing popularity of social media are also contributing to the growth of the market.
On the other hand, the market is also facing challenges due to the availability of low-cost synthetic materials that mimic the look and feel of leather, growing concerns over animal rights, and the high cost of genuine leather. In addition, the outbreak of the COVID-19 pandemic has resulted in supply chain disruptions, reduced consumer spending, and temporary store closures, which have negatively impacted the market. However, the market is expected to recover gradually as the global economy recovers and consumer spending resumes.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 53.45 Billion |
Market Forecast in 2031 | USD 67.87 Billion |
CAGR % 2023-2031 | 4.4% |
Base Year | 2022 |
Historic Data | 2019-2021 |
Forecast Period | 2023-2031 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | By Product Outlook (Tote Bag, Clutch, Satchel), By Distribution Channel (Online, Offline) |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | B Braun Melsungen AG, Abbott, Johnson & Johnson Services, Inc., Medtronic, Boston Scientific Corporation, LivaNova Plc, Edwards Lifesciences Corporation, GE Healthcare, Siemens Healthcare GmbH, Terumo Cardiovascular Systems Corporation |
Impact of COVID
The COVID-19 pandemic has had both positive and negative impacts on the Leather Handbag market. The COVID-19 pandemic has had a significant impact on the healthcare industry as a whole, including the cardiovascular device market.
Device Type Insights
Diagnostic and Monitoring Devices: This segment held the largest market share in 2020, accounting for approximately 40% of the total Leather Handbag market. The increasing prevalence of
Application Insights
Coronary Artery Disease: This segment held the largest market share in 2020, accounting for approximately 45% of the total Leather Handbag market. The high prevalence of coronary artery disease and the increasing adoption of minimally invasive procedures are the key factors driving the growth of this segment.
Regional Insights
North America: This region held the largest market share in 2020, accounting for approximately 40% of the total Leather Handbag market. The presence of advanced healthcare infrastructure, increasing prevalence of cardiovascular diseases, and high adoption of technologically advanced devices are the key factors driving the growth of this region.
Competitive Analysis
Some of the major companies operating within the market are B Braun Melsungen AG, Abbott, Johnson & Johnson Services, Inc., Medtronic, Boston Scientific Corporation, LivaNova Plc, Edwards Lifesciences Corporation, GE Healthcare, Siemens Healthcare GmbH, Terumo Cardiovascular Systems Corporation. These players are focusing on product innovation, expansion, and partnerships to strengthen their market position and meet the growing demand for Leather Handbag globally.
Recent News
· In Feb 2023, Abbott has acquired Cardiovascular Systems, Inc. (CSI), a medical device company with an innovative atherectomy system used in treating peripheral and coronary artery disease. The acquisition of CSI will add new, complementary technologies to Abbott's leading vascular device offerings
Why to buy this Report?
The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
§ Business Model
§ Production Capacity, Revenue, Sales, Gross Margin
§ Key Business Strategy
§ SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
§ Company Share Analysis from 2018-2022
§ Company Analysis by Revenue and Sales
§ Company Production Capacity, Gross Margin
§ Company Share Analysis by Application/End Use
§ Company Share Analysis by Product/Specification
Frequently Asked Questions
· What is the market size and growth projections?
· What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
· What are the top performing segments, and countries / regions of each of the markets?
· What is the market size and growth rate across key countries / regions?
· How big is the global & regional market in terms of revenue and volume?
· How far market will grow in forecast period in terms of revenue and volume?
· What factors will influence demand and supply trends across each markets during the forecast period?
· What are the technology trends shaping various markets?
· Which country / region has more opportunities?
· What is the COVID-19 impact on the market and how long will it take to recover?
· Who are the key competitors of market Players?
· What are the market share (%) of Key Players?
· What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
· What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
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One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
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Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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