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Europe Handbags Market Analysis

The Europe handbags market is projected to register a CAGR of 5.25% during the forecast period, 2022-2027

The Europe handbags market is highly driven by consumer preferences towards changing fashion trends, particularly among millennials. With the growing demand for personalized fashion, key players are engaged in designing customized handbags to increase their customer base, resulting in sales growth. Further, key players are using customer interaction platforms to get customer feedback regularly. Moreover, the growing convenience of online shopping has led to a major shift in consumer preference toward the purchase of handbags through e-commerce platforms, including both third-party channels, such as Amazon and Zalando, and the company's websites.

Furthermore, consumers' shift toward sustainable fashion is influencing key brands to replace animal-sourced leather with vegan leather in newly launched handbags. For instance, in 2022, Cardiff-based start-up company, Dozi-imp launched its first collection of artisanal, luxury vegan leather handbags. These handbags are made from Pinatex, an innovative vegan leather made from waste leaves of pineapple, developed by the UK -based ananas anam.

Europe Handbags Industry Segmentation

A handbag, usually of leather or cloth, is held in hand or hung by a strap from the arm or shoulder and used, especially by women, to carry money, keys, and personal belongings. The Europe handbags market (henceforth referred to as the market studied) is segmented by product type, category, distribution channel, and geography. By product type, the market is segmented into satchel, clutch, bucket bags, tote bags, and other product types. By category, the market is segmented into mass and premium. Based on the distribution channel the market studied is segmented into supermarkets/hypermarkets, specialty stores, online retail stores, and other distribution channels. It analyzes emerging and established economies across the region, comprising the United Kingdom, Germany, France, Russia, Italy, Spain, and the rest of Europe. For each segment, the market sizing and forecasts have been done based on value (in USD million).