South America Handbags Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

South America Handbags Market is segmented by Type (Satchel, Clutch, Tote Bag, Sling Bag, and Others), Distribution Channel (Online Retail Stores and Offline Retail Stores), and Geography (Brazil, Argentina, and Rest of South America). The report offers market size and forecast in value (USD million) for all the above segments.

South America Handbags Industry Overview

CAGR 4.1%
Study Period: 2018 - 2028
CAGR: 4.1 %

Major Players

rd-img

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

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 Industry Segments

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

Report scope can be customized per your requirements. Click here.

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.

Year-On-Year Growth Rate (%)

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.

Market Size, By Region, 2021

South America Handbags Market Competitor Analysis

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 Top Players

  1. LVMH Moet Hennessy Louis Vuitton

  2. Kering SA

  3. Prada Holding SpA

  4. Michael Kors (USA), Inc.

  5. Tory Burch LLC

*Disclaimer: Major Players sorted in no particular order

Screenshot 2022-09-30 165110.png

South America Handbags Market Recent Developments

  • 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. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Satchel

      2. 5.1.2 Clutch

      3. 5.1.3 Tote Bag

      4. 5.1.4 Sling Bag

      5. 5.1.5 Others

    2. 5.2 By Distribution Channel

      1. 5.2.1 Online Stores

      2. 5.2.2 Offline Stores

    3. 5.3 By Geography

      1. 5.3.1 Brazil

      2. 5.3.2 Argentina

      3. 5.3.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 LVMH Moet Hennessy Louis Vuitton

      2. 6.3.2 Kering SA

      3. 6.3.3 Prada Holding SpA

      4. 6.3.4 Tory Burch LLC

      5. 6.3.5 Michael Kors (USA), Inc.

      6. 6.3.6 Las Cabrera

      7. 6.3.7 GabrielaHearst

      8. 6.3.8 Catarina Mina Brand

      9. 6.3.9 Colombian Label Co

      10. 6.3.10 Carla Busso

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

  9. 9. DISCLAIMER

**Subject to Availability
You can also purchase parts of this report. Do you want to check out a section wise price list?

South America Handbags Market Research FAQs

The South America Handbags Market is studied from 2018 - 2028.

The South America Handbags Market is growing at a CAGR of 4.1% over the next 5 years.

LVMH Moet Hennessy Louis Vuitton, Kering SA, Prada Holding SpA, Michael Kors (USA), Inc., Tory Burch LLC are the major companies operating in South America Handbags Market.

South America Handbags Industry Reports

In-depth industry statistics and market share insights of the South America Handbags sector for 2020, 2021, and 2022. The South America Handbags research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the South America Handbags report PDF.

close-icon
80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!