Market Size of Europe Handbags Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.25 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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.
