Tote Bags Market to Record 5.29% Y-O-Y Growth Rate in 2022 | Offline Segment to be Significant for Revenue Generation | Technavio

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NEW YORK, July 5, 2022 /PRNewswire/ -- The tote bags market is set to grow by USD 7.47 billion from 2021 to 2026 as per the latest market report by Technavio. The report projects the market to progress at a CAGR of  6.37%. The tote bags market share growth by the offline segment will be significant for revenue generation. The growing retail industry and the establishment of multiple retail outlets are driving sales in this segment. These outlets offer consumers a variety of tote bags to choose from and provide them with the convenience of finding everything under a single roof. Factors such as discounted prices, a comfortable shopping experience, and attractive shelf displays encourage consumers to buy varied types of leather handbags based on type, brand, and quality. Thus, the considerable growth in retail channels by vendors operating in the market across the globe will drive consumer familiarization with different types of tote bags and increase the sales of tote bags globally during the forecast period.

Global Tote Bags Market 2022-2026
Global Tote Bags Market 2022-2026

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Tote Bags Market: Major Driver

The personalization and customization of luxury tote bags are one of the key drivers supporting the tote bags market growth. In the luxury segment, leading market players offer customized and personalized products to grow the aesthetic appeal of their offerings. The extent of customization and personalization can vary from the strap and buckles to embroidery or the inclusion of a name tag. Customization allows buyers to personalize their tote bags, which makes them more expensive than standard products. A rise in the customization and personalization of tote bags globally complements market growth due to the high price of these bags and through new purchases. This is expected to propel the value sales of the global tote bags market during the forecast period.

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Tote Bags Market: Segmentation Analysis

The market research report segments the tote bags market by Distribution Channel (offline and online) and Geography (Europe, APAC, North America, Middle East, and Africa, and South America).

  • Regional Analysis: 33% of the market's growth will originate from APAC during the forecast period. China and Japan and Germany are the key markets for the tote bags market in APAC. Market growth in this region will be faster than the growth of the market in other regions. Growing urbanization will facilitate the tote bags market growth in APAC over the forecast period.

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Get ready to achieve excellent business outcomes from this exclusive Tote Bags Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as -

  • What are historical revenue figures and estimated revenue figures as well as CAGR during the forecast timeframe?

  • What is the current trend taking place in the market space?

  • Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?

  • What are market drivers, restraints, and challenges impacting demand & growth of the market?

  • Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?

The competitive scenario provided in the Tote Bags Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don't wait, Make a strategic approach & boost your business goals with our Tote Bags Market Forecast Report -  Buy Now!

Related Reports:

  • The luxury handbags market share is expected to increase by USD 16.90 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.60%.

  • The leather handbags market share is expected to increase by USD 8.28 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5%.

Tote Bags Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.37%

Market growth 2022-2026

USD 7.47 billion

Market structure

Fragmented

YoY growth (%)

5.29

Performing market contribution

APAC at 33%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Burberry Group Plc, Capri Holdings Ltd., CHANEL Ltd., Dolce and Gabbana Srl, Double R Bags, Giorgio Armani Spa, Hermes International SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Mulberry Group Plc, PRADA Group, PVH Corp., Ralph Lauren Corp., Ronak Industries, Samsonite International SA, Tapestry Inc., Targus Inc., Tods Spa, VF Corp., and VIP Industries Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Content

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2021

  • 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Distribution Channel

  • 5.1 Market segments

  • 5.2 Comparison by Distribution Channel

  • 5.3 Offline - Market size and forecast 2021-2026

  • 5.4 Online - Market size and forecast 2021-2026

  • 5.5 Market opportunity by Distribution Channel

6 Customer Landscape

  • 6.1 Customer landscape overview

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 Europe - Market size and forecast 2021-2026

  • 7.4 APAC - Market size and forecast 2021-2026

  • 7.5 North America - Market size and forecast 2021-2026

  • 7.6 Middle East and Africa - Market size and forecast 2021-2026

  • 7.7 South America - Market size and forecast 2021-2026

  • 7.8 US - Market size and forecast 2021-2026

  • 7.9 China - Market size and forecast 2021-2026

  • 7.10 France - Market size and forecast 2021-2026

  • 7.11 UK - Market size and forecast 2021-2026

  • 7.12 Germany - Market size and forecast 2021-2026

  • 7.13 Japan - Market size and forecast 2021-2026

  • 7.14 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Impact of drivers and challenges

  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview

  • 9.2 Vendor landscape

  • 9.3 Landscape disruption

  • 9.4 Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 Burberry Group Plc

  • 10.4 Capri Holdings Ltd.

  • 10.5 CHANEL Ltd.

  • 10.6 Kering SA

  • 10.7 LVMH Moet Hennessy Louis Vuitton SE

  • 10.8 PRADA Group

  • 10.9 PVH Corp.

  • 10.10 Samsonite International SA

  • 10.11 Tapestry Inc.

  • 10.12 VF Corp.

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Inclusions and exclusions checklist

  • 11.3 Currency conversion rates for US$

  • 11.4 Research methodology

  • 11.5 List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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