Market Size of South America Handbags Industry
| 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 |
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.
