MEA Handbags Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
MEA Handbags Market Analysis
The Middle East and Africa handbags market is projected to register a CAGR of 5.2% during the forecast period, 2022-2027.
The sales of handbags in the Middle East and Africa region is witnessing the highest in the past decade owing to the changing fashion trend and increasing working population in the region. The rise in disposable income is an added advantage for consumers to spend more on handbags. However, the outbreak of COVID-19 has resulted in diminished consumer spending on fashion goods such as handbags and hence constrained the manufacturers to increase the price of the product to compensate for their revenue loss during this period.
Over the medium term, the market is expected to grow due to the rising popularity of handbags, particularly tote bags, satchels, and clutches among women consumers. In addition, affluent buyers increasingly prefer luxury products due to their purchasing power. This has led to the penetration of international brands in the region through the expansion of offline stores, such as luxury department stores and boutiques, across key countries including Saudi Arabia, Qatar, and UAE. For instance, in 2021, the luxury brand Dellaluna Venetian Maroquinerie debuted its presence in the United Arab Emirates by launching its exquisite handbag collection at Tryano Abu Dhabi.
MEA Handbags Market Trends
This section covers the major market trends shaping the MEA Handbags Market according to our research experts:
Strategic Developments by Major players
Modern consumers prefer different styles of handbags and therefore companies are innovating and expanding their product line to cater to the interests of the consumers. For example, Chanel Inc., a luxury fashion brand has introduced the gold-metal and calfskin bags in the market. The other strategies include mergers and acquisitions by which companies are entering into various collaborations to expand their product portfolio and promote their products across different geographical markets. For instance, Tyler Ellis, the U.S.-based luxury handbag brand, has teamed up with bespoke Emirati Couturier Hamda Al-Fahim in the United Arab Emirates to introduce a limited edition of Perry and Lily Clutches, Lee Pouchet, and Meme Pouch. Further, shopping malls are the most preferred retail channels for buying luxury goods such as handbags as these stores showcase multiple regional and global brands of fashion accessories. Thus, manufacturers are widening their presence in shopping malls to cater to the high consumer interest in luxury handbags. For instance, in April 2021, Da Milano, a luxe leather accessories brand that offers high-quality handbags opened its new store in Dubai Mall as it is a prestigious landmark in the world, allowing the brand to broaden its spectrum and gain visibility from potential buyers.
United Arab Emirates dominates the Market in the region
United Arab Emirates consumers prefer luxury handbags over conventional ones, owing to their high purchasing power. The country is experiencing a surge in the inbound, outbound, and domestic tourism flow, as it is a luxury shopping destination. The handbag industry in the United Arab Emirates has grown steadily as a result of fashion-conscious consumers' ongoing purchases of the items. Michael Kors and Kate Spade are famous brands in the United Arab Emirates, with competitive prices that draw the country's young and ambitious population. Local and international shoppers are drawn to premium goods, fueling the rise of premium handbag sales. The majority of visitors are drawn to personal accessories, such as handbags, particularly luxury handbags. Chalhoub is the largest bag and luggage firm in the United Arab Emirates, and it serves LVMH's Louis Vuitton brand in the United Arab Emirates. All these factors drive sales growth in the handbag sector and are anticipated to boost market growth over the forecast period.
MEA Handbags Industry Overview
The market studied is highly competitive, with a considerable number of regional and global players operating in the market studied. Some of the major players in the market are Bucket Bag, LVMH, Michael Kors, Hidesign, Fossil, Gucci, and Kering, among others. An advanced distribution network provides a competitive advantage to the key market players. Moreover, it is crucial for players to continuously innovate to operate and grow in the market due to the rapidly changing consumer demands and preferences in the area of fashion and personal grooming.
MEA Handbags Market Leaders
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Kering Group
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Chanel
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LVMH Mo毛t Hennessy Louis Vuitton
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Blueberry
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Prada S.p.A
*Disclaimer: Major Players sorted in no particular order
MEA Handbags Market News
- In June 2022, Kering launched the global initiative on women and responsible fashion called 'Fashion Our Future' in collaboration with Marie Claire.
- In 2022, Chanel launched Heart Shaped bags, the bags are available in 2 sizes: a mini and a large.
- In September 2020, the luxury house Louis Vuitton has launched its e-commerce site in Saudi Arabia. This online site will directly access the latest LV crafty collection of handbags to Arabian customers.
MEA Handbags Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Satchel
5.1.2 Bucket Bag
5.1.3 Clutch
5.1.4 Tote Bag
5.1.5 Others
5.2 Distribution Channel
5.2.1 Offline Retail Stores
5.2.2 Online Retail Stores
5.3 Geography
5.3.1 United Arab Emirates
5.3.2 Saudi Arabia
5.3.3 South Africa
5.3.4 Qatar
5.3.5 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 LVMH
6.3.2 Kering Group
6.3.3 Prada S.p.a
6.3.4 Blueberry Group
6.3.5 Chanel SA
6.3.6 Capri Holdings Limited
6.3.7 Kate Spade & Company
6.3.8 Hermes International SA
6.3.9 Fossil Group
6.3.10 Gucci S.p.A
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
MEA Handbags Industry Segmentation
A handbag is a type of fashion accessory that is a handy, medium-to-large bag used to carry personal items. The handbag market is segmented by product type, distribution channel, and geography. By product type, the market is segmented into satchels, bucket bags, clutches, tote bags, and other product types. By distribution channel, the market is segmented into online retail stores and offline retail stores. It provides an analysis of emerging and established economies across the region, comprising the United Arab Emirates, Saudi Arabia, South Africa, Qatar, and the Rest of the Middle East and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).
| By Type | |
| Satchel | |
| Bucket Bag | |
| Clutch | |
| Tote Bag | |
| Others |
| Distribution Channel | |
| Offline Retail Stores | |
| Online Retail Stores |
| Geography | |
| United Arab Emirates | |
| Saudi Arabia | |
| South Africa | |
| Qatar | |
| Rest of Middle East and Africa |
MEA Handbags Market Research FAQs
What is the current Middle East and Africa Handbags Market size?
The Middle East and Africa Handbags Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in Middle East and Africa Handbags Market?
Kering Group, Chanel, LVMH Mo毛t Hennessy Louis Vuitton, Blueberry and Prada S.p.A are the major companies operating in the Middle East and Africa Handbags Market.
What years does this Middle East and Africa Handbags Market cover?
The report covers the Middle East and Africa Handbags Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Middle East and Africa Handbags Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Middle East and Africa Handbags Industry Report
Statistics for the 2024 Middle East and Africa Handbags market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Middle East and Africa Handbags analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
