Global Handbags Market to Reach $52.8 Billion by 2027
Amid the COVID-19 crisis, the global market for Handbags estimated at US$41.6 Billion in the year 2020, is projected to reach a revised size of US$52.8 Billion by 2027, growing at a CAGR of 3.5% over the period 2020-2027.
The U.S. Market is Estimated at $11.2 Billion, While China is Forecast to Grow at 6.3% CAGR
The Handbags market in the U.S. is estimated at US$11.2 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$11 Billion by the year 2027 trailing a CAGR of 6.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1% and 2.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR.We bring years of research experience to this 16th edition of our report. The 297-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Hermes International SA
- Kering SA
- LVMH Moet Hennessy
- Prada SpA
- Tapestry, Inc.