Handbag Market expected to fuel the demand by 2030
The global handbag market size is estimated to reach USD 124.10 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to grow at a CAGR of 6.8% from 2023 to 2030. The market is primarily driven by a combination of factors that cater to both functional and fashion-conscious consumers. First and foremost, fashion trends and brand influence play a significant role. Consumers are constantly seeking the latest styles and designs, often influenced by celebrities and social media influencers who showcase popular handbag brands. In addition, the desire for quality and craftsmanship continues to fuel the market, with consumers willing to invest in premium and luxury handbags known for their durability and timeless appeal. There has been a remarkable surge in the global workforce's female representation. Women have become indispensable in a wide array of industries, assuming various roles that span from corporate leadership positions ...