South America Handbags Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Handbags Market Analysis
South America Handbags Market is projected to reach 4.1 % in the forecast period 2022-2027.
Handbags are considered an integral part of a woman's wardrobe. Designers are including handbags in their collections more often to increase revenue in the fashion industry. The fashion and luxury market has a strong influence on the different designs of handbags. The arrival of numerous brands and their easy availability through retail stores and online retail channels are contributing to the market's growth. Further, manufacturers are collaborating with well-known designers to develop curated collections and promote them as a lifestyle statement. Celebrity endorsement, fashion events, and social media advertisements are promoting the sales of luxury handbags in the region.
However, the presence of counterfeit products, that replicate the original brands is challenging industry performance. Moreover, the emerging subscription model of lending luxury handbags for an occasion is influencing the purchase decisions of price-conscious consumers.
South America Handbags Market Trends
This section covers the major market trends shaping the South America Handbags Market according to our research experts:
Popularity of Leather Handbags
Leather purses are well-appreciated as a luxury fashion statement among women consumers. Also, the region exhibits widespread leather resources, with countries such as Argentina, and Columbia renowned for their high leather quality products. Several large-scale leather manufacturing firms are also focusing on in-house packaging and manufacturing to gain greater control over the entire supply chain activities. The handcrafting techniques, which are unique to South America enable aesthetic and ultra-luxurious designs. Handcrafted leather bags are gaining popularity among fashion-conscious millennial consumers. Further, the increase in exposure to handbags through e-commerce websites, social media, and celebrity endorsements is promoting consumer spending on leather purses and office bags. Growing consumer interest in sustainable fashion inspired by environmental consciousness is promoting product innovation in the industry such as vegan leather bags and upcycled leather bags. For instance, Volta Atelier, the Brazilian fashion house crafts handbags and other fashion accessories using 100% leather discarded by the leather goods industry in the country.
Brazil is Leading the Handbags Market
Brazil holds the largest share of the South Americ Handbags Market. The growth in the sector is mainly due to local brands diversifying the products and prices offered to target different consumer groups. Additionally, in recent years the country has seen improvement in both the quality and design of luxury handbags produced. The demand for vintage handbags is further boosting the sales of handbags in South America. Further, the well-developed network of multi-barns and single-brand stores along with individual fashion boutiques are enabling consumers to choose from a wide variety of handbags marketed by private labels and global luxury fashion brands. For instance, in October 2022, Balenciaga launched its Summer 23 collection in collaboration with Lay's, a snack food brand. The brand has created a bag that looks exactly like a packet of Lay's chips. Improved fashion sense, high disposable income, and penetration of online fashion stores are the key factors anticipated to drive handbag sales in Brazil during the forecast period.
South America Handbags Industry Overview
The South America Handbags Market is highly competitive, with the presence of both global and regional players. The major companies in the market include LVMH Moet Hennessy Louis Vuitton, Kering SA, and Prada Holding SpA among others. The key players are expanding their presence in the region by launching new stores, curated collections, and investing in advertising and promotions. For instance, in October 2020, Brazilian accessories brand Ryzí opened its first store in São Paulo. The new Ryzí store carries the brand's full range of bags and collaboration designs. Companies are competing on different factors, including product design, quality, sustainability, and price points.
South America Handbags Market Leaders
LVMH Moet Hennessy Louis Vuitton
Kering SA
Prada Holding SpA
Michael Kors (USA), Inc.
Tory Burch LLC
*Disclaimer: Major Players sorted in no particular order
South America Handbags Market News
- In January 2022, LVMH opened a second Dior store in Shops Jardins Shopping Center in São Paulo, Brazil. The store features ready-to-wear, handbags, small leather goods, exotic leathers, jewelry, footwear, accessories, and sunglasses.
- In April 2021, Balenciaga, a major luxury brand from the Kering Group, made its debut in South America by opening its first brick-and-mortar store in the region located at the opulent JK Iguatemi mall in So Paulo. Balenciaga offers is a fashion brand that offers handbags apart from clothing.
South America 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 Clutch
5.1.3 Tote Bag
5.1.4 Sling Bag
5.1.5 Others
5.2 By Distribution Channel
5.2.1 Online Stores
5.2.2 Offline Stores
5.3 By Geography
5.3.1 Brazil
5.3.2 Argentina
5.3.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 LVMH Moet Hennessy Louis Vuitton
6.3.2 Kering SA
6.3.3 Prada Holding SpA
6.3.4 Tory Burch LLC
6.3.5 Michael Kors (USA), Inc.
6.3.6 Las Cabrera
6.3.7 GabrielaHearst
6.3.8 Catarina Mina Brand
6.3.9 Colombian Label Co
6.3.10 Carla Busso
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
South America Handbags Industry Segmentation
A handbag, commonly known as a purse, is a handy medium-to-large bag used to carry personal items. The South America handbags market is segmented by product type, distribution channel, and geography. By product type, the market is segmented into satchel, clutch, tote bag, sling bag, and other product types. By distribution channel, the market is segmented into online retail stores and offline retail stores. Also, the study analyzes the handbag market in emerging and established markets across South America, including Brazil, Argentina, and the Rest of South America. The report offers market size and forecasts in value (USD million) for all the above segments.
| By Type | |
| Satchel | |
| Clutch | |
| Tote Bag | |
| Sling Bag | |
| Others |
| By Distribution Channel | |
| Online Stores | |
| Offline Stores |
| By Geography | |
| Brazil | |
| Argentina | |
| Rest of South America |
South America Handbags Market Research FAQs
What is the current South America Handbags Market size?
The South America Handbags Market is projected to register a CAGR of 4.10% during the forecast period (2024-2029)
Who are the key players in South America Handbags Market?
LVMH Moet Hennessy Louis Vuitton, Kering SA, Prada Holding SpA, Michael Kors (USA), Inc. and Tory Burch LLC are the major companies operating in the South America Handbags Market.
What years does this South America Handbags Market cover?
The report covers the South America Handbags Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Handbags Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Handbags Industry Report
Statistics for the 2024 South America Handbags market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America 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.
