32% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for tote bags in APAC. Market growth in this region will be faster than the growth of the market in other regions. The growing urbanization is one of the prime factors that will facilitate the tote bags market growth in APAC over the forecast period
The potential growth difference for the tote bags market between 2020 and 2025 is USD 5.85 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver
- Market Challenges
The increased consumer fashion consciousness and spending on personal goods are some of the key market drivers. However, factors such as fluctuating operational costs including labor, logistics, and raw material costs will challenge market growth.
To learn about additional key drivers, trends, and challenges available with Technavio. Read our FREE Sample Report right now!
The tote bags market report is segmented by Distribution Channel (Offline and Online) and Geography (Europe, APAC, North America, MEA, and South America).
The growing retail industry and the establishment of numerous retail outlets are driving sales in the offline segment. These outlets offer customers a wide range of tote bags to choose from and provide them with the convenience of finding everything under a single roof. Factors such as discounted prices, a comfortable shopping experience, and attractive shelf displays encourage customers to buy varied types of leather handbags based on type, brand, and quality. Owing to these factors, the growth of the market segment is expected to be significant during the forecast period
View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.
Some Companies Mentioned with their Offerings
The tote bags market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Burberry Group Plc - The company provides a variety of leather tote bags in different sizes such as Mini Leather Soft Pocket Tote, Medium Leather Soft Pocket Tote, Leather Flat Pocket Bag, and others.
- Capri Holdings Ltd. - The company provides tote bags under the brand name MICHAEL KORS such as Crossbody Bags, Shoulder bags, and others.
- Compagnie Financière Richemont SA - The company provides tote bags under the brand name Alaïa.
- Kering SA - The company provides tote bags under the brand name Gucci.
- LVMH Moet Hennessy - Louis Vuitton - The company provides luxury tote bags such as Lockme shopper, Neverful MM, Onthego MM, and others.
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
Related Reports:
Luxury Handbags Market -The luxury handbags market has the potential to grow by USD 16.90 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 5.60%. Download a free sample now!
Smart Carry-on Bags Market -The smart carry-on bags market size has the potential to grow by USD 258.56 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period. Download a free sample now!
Tote Bags Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.54% |
Market growth 2021-2025 |
USD 5.85 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.87 |
Regional analysis |
Europe, APAC, North America, MEA, and South America |
Performing market contribution |
APAC at 32% |
Key consumer countries |
US, China, France, UK, Germany, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Burberry Group Plc, Capri Holdings Ltd., Compagnie Financière Richemont SA, Kering SA, LVMH Moet Hennessy - Louis Vuitton, PRADA Group, PVH Corp., Samsonite International SA, Tapestry Inc., and VF Corp. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
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SOURCE Technavio
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