Industry Analysis & Industry Trends
International trade has been a key feature of the industry over the past five years, while fashion trends and changes in general economic conditions have also affected industry revenue. This is because demand for the Global Handbag and Purse Manufacturing industry weakened over 2008 and 2009, as consumers in recession-hit countries postponed nonessential spending. However, demand for higher priced luxury products increased in countries such as China. Consequently, over the next five years, demand for handbags and accessories is expected to grow as conditions in the global economy strengthen, disposable incomes grow and consumer sentiment recovers... read more
Women's handbags and purses, made from leather and other materials, form the largest product segment in the industry. Handbags are typically large bags carried on the shoulder or in hand, created to accommodate a large amount of contents. Purses, on the other hand, are typically smaller and designed to carry coins and similar items; they often fit inside handbags. This category also includes clutches, which are handbags without straps, designed to be carried by hand. IBISWorld estimates this segment's share of industry revenue has increased over the period.
This segment's share of revenue has increased over the past five years as demand for luxury handbags increased globally, partly due to strong demand from developing nations such as, China and India... read more