About this market
Technavio's 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.
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, view our report.
Competitive Landscape
With the presence of several major players, the global clutch bag market is fragmented. Technavio's 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., Hermes International, Kering SA, LVMH Moet 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.
TABLE OF CONTENTS
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- 2.1 Preface
- 2.2 Preface
- 2.3 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
- Market outlook
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
- Market segmentation by distribution channel
- Comparison by distribution channel
- Offline - Market size and forecast 2019-2024
- Online - Market size and forecast 2019-2024
- Market opportunity by distribution channel
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Customized clutch bags
- Vegan leather and eco-friendly materials for clutch bags
- Increasing fashion sense of customers and spending on
- personal goods
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Burberry Group Plc
- Capri Holdings Ltd.
- CHANEL Ltd.
- Dolce & Gabbana Srl
- Global Brands Group Holding Ltd.
- Hermes International
- Kering SA
- LVMH Moet Hennessy - Louis Vuitton
- Ralph Lauren Corp.
- Tapestry Inc.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
