Market Size of Middle East and Africa Handbags Industry
| 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 |
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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.
