28 Surprising Facts About Handbags For Women

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Facts About Handbags For Women

Handbags are a staple accessory in many women’s wardrobes, serving both as a functional and fashionable item. As the fashion industry continues to evolve, so does the handbag market.

From luxury designer brands to affordable vegan options, there is a vast array of handbags available to suit any style or budget.

In this blog post, we have compiled a list of 20 statistics that provide insights into the current state of the handbag market for women.

Whether you’re a handbag enthusiast or just interested in the industry, these statistics offer valuable information on market trends, popular styles, and consumer behavior.

Let’s dive in!

  1. The global handbag market size was valued at $63.7 billion in 2019 and is expected to reach $78.2 billion by 2027, with a CAGR of 3.1% during the forecast period. (Source: Grand View Research)
  2. In 2020, the United States handbag market size was estimated to be approximately $11.5 billion. (Source: Statista)
  3. Leather handbags accounted for 45% of the global handbag market share in 2019. (Source: Technavio)
    Leather handbags are followed by canvas and synthetic materials. (Statista)
  4. The demand for luxury handbags is increasing, with the luxury handbag market size estimated to reach USD 94.3 billion by 2025. (Source: Business Wire)
  5. The top-selling luxury handbag brands are Louis Vuitton, Chanel, and Hermes. (Source: Harper’s Bazaar)
  6. The average price of a designer handbag in 2020 was $2,000. (Source: Business Insider)
  7. The global vegan handbag market is expected to grow at a CAGR of 13.5% during the forecast period 2020-2027. (Source: ResearchAndMarkets)
  8. In 2020, the Asia Pacific region dominated the global handbag market with a market share of 35.5%. (Source: Mordor Intelligence)
  9. The average American woman owns 11 handbags. (The Luxury Closet)
  10. The crossbody handbag is the most popular style, with 36% of women owning at least one. (Source: Statista)
  11. The tote bag is the second most popular style of handbag, with 31% of women owning at least one. (Source: Statista)
  12. The shoulder bag is the third most popular style of handbag, with 22% of women owning at least one. (Source: Statista)
  13. The global market size for clutch bags was valued at $19.89 billion in 2019 and is expected to reach USD 25.26 billion by 2027, with a CAGR of 3.2% during the forecast period. (Source: Fortune Business Insights)
  14. The global satchel and saddle bags market is expected to grow at a CAGR of 4.2% during the forecast period 2020-2027. (Source: ResearchAndMarkets)
  15. In 2020, Michael Kors was the best-selling handbag brand in the United States. (Source: Statista)
  16. The backpack handbag is becoming increasingly popular, with a market share of 10.8% in 2019. (Source: Technavio)
  17. The bucket bag is a rising trend, with a market share of 3.8% in 2019. (Source: Technavio)
  18. Women in the United States spent an average of $148 on handbags in 2019. (Statista)
  19. In 2020, 36% of U.S. consumers planned to spend between $101 and $250 on a handbag. (Source: Statista)
  20. The global market size for designer handbags was valued at USD 25.4 billion in 2020 and is expected to reach USD 31.6 billion by 2027, with a CAGR of 3.0% during the forecast period. (Source: Grand View Research)
  21. In 2020, 60% of U.S. women owned at least one designer handbag. (Source: Statista)
  22. The global market size for small leather goods (SLGs), including wallets and cardholders, was valued at USD 49.6 billion in 2020 and is expected to reach USD 62.9 billion by 2027, with a CAGR of 3.2% during the forecast period. (Source: Grand View Research)
  23. The demand for sustainable and ethical handbags is on the rise, with searches for “vegan leather” and “sustainable handbags” increasing by 50% in 2020. (The Zoe Report)
  24. The global vegan handbag market size was valued at $5.81 billion in 2020 and is expected to grow at a CAGR of 10.5% from 2021 to 2028. (Source: Grand View Research)
  25. The most expensive handbag ever sold was the Hermès Birkin Himalaya, which sold for $500,000 in 2019. (Business Insider)
  26. In 2020, the online sales of handbags increased by 49%. (CNBC). In 2020, the online handbag market in the United States was valued at approximately USD 11.6 billion. (Source: Statista)
  27. In a survey, 48% of women said that the size of a handbag is the most important factor when choosing one. (Source: Statista)
  28. These statistics provide valuable insights into the current state and trends of the handbag market for women. From the market size to popular styles and brands, these statistics can help inform consumers and businesses alike when it comes to making purchasing decisions and understanding the industry.
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Author

  • Gloria

    Gloria is a top-performing fashion designer with more than eight years of experience in developing fashion concepts.

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