Luxury handbag companies have been making several important mergers and acquisitions to expand their operations in both international and domestic market. Exposure to social media, urbanization, and increasing preference toward investments on personal luxury goods, which include bags as well, are some of the factors that have propelled the market growth
luxury handbag market Overview 2019-2026
According to a new report published by Allied Market Research titled, “Luxury Handbag Market by Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the luxury handbag market size was valued at $58.3 billion in 2018 and is expected to reach $89.9 billion by 2026, registering a CAGR of 5.6% from 2019 to 2026. In 2017, Europe accounted for nearly 35.0% share of the luxury handbag market.
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Factors to drive the growth of the market
Emerging economies, especially in Asia-Pacific, such as India, China, Indonesia, and the Philippines are progressively spending on luxury cosmetic products, owing to increase in disposable income. Consumers in Hong Kong aged 30 to 49 have the highest disposable income and thus, are the biggest buyers of luxury products in the country. Similarly, in India, factors such as emergence of young populace, increase in disposable income, rise in number of working women, and surge in affordability of luxury products are expected to drive the growth of the market.
Demand , Growth, trends, opportunities and forecasts by 2026
The demand for luxury brands and specialized products is on the rise as Indian consumers gain additional acquaintances with global media and travel more. Several international luxury brands such as Gucci and Louis Vuitton are present in the country for numerous years.
Furthermore, consumers in Singapore are image conscious and hence, place a high priority on personal accessories. For this reason, international handbag brands that combine revolutionary design with ease of use, continue to dominate the market. Furthermore, consumers in New Zealand, who reside in urban centers, boost increase in disposable income alongside easy accessibility to handbags through retail outlets.
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Moreover, departmental stores generally specialize in luxury brands and hire assistants to offer advice to consumers. This direct selling approach appeals consumers in the region and boosts the sales of luxury products. Thereby, the market for luxury handbag is witnessing considerable growth in regions such as India, China, and New Zealand.
Multiple taxes such as local tax, import duty, high internal shipment cost, and trade margins cumulatively increase the prices of the imported luxury handbags. Accounting these factors, price of such products for buyers gets extremely high and hence, pricing becomes a major threat for luxury handbags. In countries such as India, where consumers are very price-sensitive, many luxury brands have launched products in smaller quantities to make them affordable.
The trade war between the two biggest luxury markets, namely, the U.S. and China, hampers the cosmetic products market since heavy tariffs are levied by either countries on the goods imported. This may especially cause risk to the American luxury brands since the new tariffs may shift the focus of Chinese consumers toward their domestic brands or Korean brands. The fierce trade war between the two major economies is expected to hamper the growth of the luxury market in other massive regions such as Asia.
Premiumization has facilitated a bridge between desirability of luxury experience and necessity of mass market. As a result, it plays a key role in the overall luxury handbag market growth. Currently, customers seek for superior quality and design when it comes to using any kind of consumer good products, including handbag irrespective of its high-end price tags.
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This results in increase in demand for premium handbag brands.
Most of the developed countries have witnessed surging demand for luxury handbags. This is attributable to the rise in per capita income of target customers, coupled with extended product offerings of luxury handbag manufacturers. Thus, surge in demand for various luxury products triggers growth of global luxury handbag market.
Endorsement of handbags by celebrities is a major driver of the global luxury handbag market growth. Influence of celebrity promotions of handbag has shown positive growth in the overall market in terms of value sales. Celebrity marketed luxury sales have increased significantly, in terms of value, over past five years, specifically in China, Germany, the U.S. and the UK. Hence, celebrity branding and endorsement provides an avenue for the growth of the global luxury handbag market in terms of value sales.
Key Findings of the Study
- In 2018, by type , the handbag segment accounted for around higher market share, growing at a CAGR of 5.80% from 2019 to 2026.
- In 2018, by distribution channel, the specialty stores segment accounted for higher luxury handbag market share.
- In 2018, by region, Europe accounted for a higher value luxury handbag market share.
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Key players profiled for luxury handbag industry include :-
- Furla S.p.A
- Guccio Gucci S.p.A
- Longchamp
- LUXOTTICA GROUP
- Mulberry Group plc
- Vera Bradley Sales, LLC
- Valentino S.p.A.
- ZV France SAS
- Lvmh group
- Samsonite International S.A
Mar 12, 2020: The global Filters market size is expected to reach USD 110.8 billion by 2027, expanding at a CAGR of 5.1%, according to a new report by Radiant Insights, Inc.
Rapid technological advancements coupled with growing demand for filtration for industrial, commercial, and household purposes is anticipated to drive the market.Presence of stringent regulatory framework, which stipulates lowering of the exhaust emissions, is anticipated to boost the product demand in the automotive industry.
In addition, increasing investments towards the installation of high-quality filters in the cars for cabin air filtration by the automobile manufacturers is anticipated to benefit market growth over the forecast period.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/filters-market/request-sampleGrowing population, depletion of water resources, and contamination of ground and surface water has resulted in an increased adoption of water treatment processes to improve the water quality.
In addition, rapid industrialization in developing economies such as Asia Pacific is anticipated to further result in shortage of potable water, which is likely to promote the demand for water filtration systems.Major market players such as Affinia Group Intermediate focus on integrated third party production/distribution and supply directly to end-use companies.
Further key findings from the report suggest:The ICE filters segment accounted for USD 32.9 billion in 2019 and is projected to witness strong growth over the forecast period on account of growing production of automobiles and rising spending power among people across the globeThe motor vehicle application segment is anticipated to reach USD 55.9 billion in 2027 owing to growing demand for vehicles coupled with rising environmental awareness across the globeThe filters market in Europe is projected to witness a CAGR of 3.7% from 2020 to 2027 and reach USD 25.2 billion in 2027 due to the implementation of stringent regulations by government authorities to control the emission level from automobiles and industrial exhaust emissions in the regionThe market in Asia Pacific accounted for USD 32.1 billion in 2019 and is estimated to grow at a CAGR of 6.4% over the forecast period.
Filters Market - Porter’s Analysis3.10.1 Supplier Power3.10.2 Buyer Power3.10.3 Substitution Threat3.10.4 Threat from New Entrant3.10.5 Competitive Rivalry3.11 Filters Market - PESTEL Analysis3.11.1 Political Landscape3.11.2 Environmental Landscape3.11.3 Social Landscape3.11.4 Technology Landscape3.11.5 Economic LandscapeContinued………….
The global Frozen Food Market size is expected to value at USD 360.36 billion by 2024.
The market is subject to witness a substantial growth due to the changing lifestyle patterns, shifting preferences among consumers towards ready-to-cook meals, increasing demand for convenience food, and growing focus towards hygienic food products.
Frozen food products are able to retain maximum vitamins and minerals.The freezing allows longer shelf life for the food products and limits any form of microbial growth that leads to food spoilage.
In addition, increasing penetration by e-commerce retail stores is expected to fuel the growth of frozen food industry in the upcoming years.
Increasing demand form staple food products from developed economies across the globe is propelling market growth as well, in the recent years.
Increasing demand for frozen fruits and vegetables from developed and developing economies is expected to positively affect market performance of frozen food industry in the upcoming years.
The global north country auto glass market size is projected to reach USD 27.75 billion by 2026, exhibiting a CAGR of 6.9% during the forecast period.
Robust logistics infrastructure in developed nations will be a key factor fueling the growth of this market, infers Fortune Business Insights™ in its report, titled “Automotive Glass Market Size, Share, and Industry Analysis, By Glass Type (Tempered, Laminated), By Application (Windshield, Sidelite, Backlite, Sunroof), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Electric Vehicles), and Regional Forecast, 2019-2026”.
Competitive LandscapeEnhancement in Production Capacity to Stir Competitive EnergiesThe automotive glass market analysis reveals that raising production capabilities by key companies will be the prominent feature of competition in this market.
These activities are aiding competitors to expand in foreign territories and penetrate untapped regions and countries, the analysis observes.List of Companies Covered in the Report:Guardian Glass LLCNippon Sheet Glass Co. LtdAGC Inc.Saint-Gobain SekuritMagna International Inc.Xinyi Glass Holdings LimitedFuyao Glass Industry Group Co. LtdMarket DriverBooming Demand for Electric Vehicles to Accelerate Market GrowthStaggering air pollution levels have led to a dramatic shift in consumer preference from conventional to electric vehicles (EVs) in the past decade.
Of these, nearly 45% are on road in China, the IEA further notes.
The IEA also projects that up till 2030, the year-on-year increase in the global EV stock will be 44 million.
The Report entitled 2019-2026 Global Image-guided Therapy Systems Market Report explores the essential factors of the Image-guided Therapy Systems market considering such as industry situations, market demands, market players adopted business strategies and their growth scenario.
The Global Image-guided Therapy Systems market has been separated by this report based on the key players profiles, Type, Application and Regions.Image-guided Therapy Systems is a software destined to help the clinician monitor thermal ablation procedures with MR based temperature maps.
Image-guided Therapy Systems is a complete MR controlled, focused ultrasound based, ablation device.Download Exclusive Free Sample Of This Report @ https://dataintelo.com/request-sample/?reportId=500Rise in geriatric population base and shifting preference for minimally invasive surgeries along with technological advancements in imaging systems are key factors driving the market.
Increased burden of chronic diseases, such as cancer, coupled with a rise in the number of initiatives for cancer radiotherapy is also positively impacting the market.Read More @ https://www.marketwatch.com/press-release/image-guided-therapy-systems-market-strategies-and-insight-driven-transformation-2019-2026-2019-12-20
High optical clarity, resistance to change in color, flexibility, and stress absorbing nature make it ideal for usage with glass as these applications require adhesives that are not visible.
These adhesives find a variety of applications which require glass to glass bonding as well as glass to other substrate bonding such as rubbers, metals and plastics.
Get Sample PDF @ https://www.polarismarketresearch.com/industry-analysis/glass-bonding-adhesives-market/request-for-sample They are used in aerospace applications as their properties are suitable for the same.
They are used in aerospace interiors, seats, displays as well as with electronics.
Developing countries such as India and China are carrying out concentrated efforts to boost the aviation sector.
This has spurred a rise in demand for aero plane manufacturing.
