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The Leather
Handbag Market was estimated to be worth USD 53.45 billion in 2022
and is anticipated to expand at a CAGR of 4.4% over the course of the forecast
period. A sort of fashion accessory, leather handbags are created by treating
and dying animal hides to create a variety of designs, colours, and textures.
These purses come in a range of designs, sizes, and styles and are well-liked
by both men and women. Given their reputation for strength, fine craftsmanship,
and classic design, leather handbags are a popular option for anybody searching
for a stylish and long-lasting accessory.
Several variables, such as shifting fashion trends, rising
disposable income, and growing consumer preferences for luxury items, have an
impact on the worldwide leather handbag market. The market for upscale leather
handbags is being driven by the rise in the number of working women and their
rising spending power. The market is expanding as a result of the rise of
online sales channels, rising urbanization, and rising social media popularity.
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However, the market is also having difficulties since cheap
synthetic materials that imitate the texture and appearance of leather are
readily available, animal rights issues are becoming more prevalent, and real
leather is expensive. Moreover, the COVID-19 epidemic has caused supply chain
hiccups, lower consumer spending, and temporary store closures, all of which
have hurt the market. Nonetheless, as the world economy strengthens and
consumer spending picks back up, it is anticipated that the market will steadily
rebound.
It is anticipated that the growth of the e-commerce industry
will help the leather handbag market. Thanks to e-commerce platforms, customers
may now more easily access a wide assortment of leather handbags from various
firms. When customers shop online, they may make purchases quite easily.
Leather
Handbag Market:- Segmental Analysis
By Product Outlook
·
Tote Bag
·
Clutch
· Satchel
By Distribution Channel
·
Online
·
Offline
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
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