Clutch Bag Market by Distribution Channel and Geography - Forecast and Analysis 2022-2028
Global Clutch Bag Market: About this market
clutch bag market analysis considers sales from both offline and online distribution channels. Our study also finds the sales of the clutch bag in APAC, Europe, MEA, North America, and South America. In 2019, the offline segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as convenience offered by the offline distribution channel will play a significant role in the offline segment to maintain its market position. Also, our global clutch bag market report looks at factors such as growing demand for luxury clutch bags, evolving styles and designs of clutch bags, and increasing accessibility of branded and international products. However, fluctuating labor and raw material costs, the presence of counterfeit products, and stringent government regulations on procuring raw materials such as leather may hamper the growth of the clutch bag industry over the forecast period.
Global Clutch Bag Market: Overview
Growing demand for luxury clutch bags
The demand for luxury products, such as luxury clutch bags, is increasing among consumers, owing to the rising spending power of customers globally. Several luxury brands, such as Louis Vuitton, Burberry, Tommy Hilfiger, Dior, and Estee Lauder, have implemented Al-powered technologies to offer more personalized and timely customer services. These luxury brands, through their Al-powered chatbots, are selling products using targeted marketing, personalization, and timely automation, thus attracting more customers. Furthermore, the changing spending behavior of consumers, such as the rising adoption of celebrity-endorsed luxury brands will lead to the expansion of the global clutch bag market at a CAGR of almost 6% during the forecast period.
Vegan leather and eco-friendly materials for clutch bags
Handbag designers and consumers are believing in non-animal materials for premium clutch bags. Many of the major clutch bag brands are now using 100% recycled plastic bottles for making the inside lining of clutch bags, owing to the increasing demand for cruelty-free products from consumers. Governments and various animal protection agencies have raised concerns to stop the hunting of animals, which has restricted the supply of leather. This is fueling the demand for vegan leather-based and eco-friendly clutch bags. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global clutch bag market during the forecast period 2020-2024, click here.
With the presence of several major players, the global clutch bag market is fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading clutch bag manufacturers, that include Burberry Group Plc, Capri Holdings Ltd., CHANEL Ltd., Dolce & Gabbana Srl, Global Brands Group Holding Ltd., Hermès International, Kering SA, LVMH Moët Hennessy - Louis Vuitton, Ralph Lauren Corp., and Tapestry Inc.
Also, the clutch bag market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
clutch bag market analysis considers sales from both offline and online distribution channels. Our study also finds the sales of the clutch bag in APAC, Europe, MEA, North America, and South America. In 2019, the offline segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as convenience offered by the offline distribution channel will play a significant role in the offline segment to maintain its market position. Also, our global clutch bag market report looks at factors such as growing demand for luxury clutch bags, evolving styles and designs of clutch bags, and increasing accessibility of branded and international products. However, fluctuating labor and raw material costs, the presence of counterfeit products, and stringent government regulations on procuring raw materials such as leather may hamper the growth of the clutch bag industry over the forecast period.
Global Clutch Bag Market: Overview
Growing demand for luxury clutch bags
The demand for luxury products, such as luxury clutch bags, is increasing among consumers, owing to the rising spending power of customers globally. Several luxury brands, such as Louis Vuitton, Burberry, Tommy Hilfiger, Dior, and Estee Lauder, have implemented Al-powered technologies to offer more personalized and timely customer services. These luxury brands, through their Al-powered chatbots, are selling products using targeted marketing, personalization, and timely automation, thus attracting more customers. Furthermore, the changing spending behavior of consumers, such as the rising adoption of celebrity-endorsed luxury brands will lead to the expansion of the global clutch bag market at a CAGR of almost 6% during the forecast period.
Vegan leather and eco-friendly materials for clutch bags
Handbag designers and consumers are believing in non-animal materials for premium clutch bags. Many of the major clutch bag brands are now using 100% recycled plastic bottles for making the inside lining of clutch bags, owing to the increasing demand for cruelty-free products from consumers. Governments and various animal protection agencies have raised concerns to stop the hunting of animals, which has restricted the supply of leather. This is fueling the demand for vegan leather-based and eco-friendly clutch bags. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global clutch bag market during the forecast period 2020-2024, click here.
Competitive Landscape
With the presence of several major players, the global clutch bag market is fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading clutch bag manufacturers, that include Burberry Group Plc, Capri Holdings Ltd., CHANEL Ltd., Dolce & Gabbana Srl, Global Brands Group Holding Ltd., Hermès International, Kering SA, LVMH Moët Hennessy - Louis Vuitton, Ralph Lauren Corp., and Tapestry Inc.
Also, the clutch bag market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
Please Select a Format
