Market Highlights
A luxury handbag or a luxury designer handbag is crafted from the finest materials to provide an exquisite look and finish. The main purpose of these premium bags is to make a style statement. They are available in different styles, materials, and sizes. Luxury handbags are commonly custom-made according to the needs of the buyer. The global luxury handbag market size is estimated to reach USD 33.94 Billion and record a CAGR of 6.8% by the end of 2024.
The global market has been segmented on the basis of type, material type, consumer group, distribution channel, and region.
Based on type, the global luxury handbags market is divided into clutches, crossbody bags, shoulder bags, satchels, hobo bags, tote bags, briefcases, and others. The clutches segment accounted for the largest share of the global luxury handbags market in 2018 due to the innovative style and utility of these bags. However, the briefcases segment is expected to register the highest growth rate owing to the expanding men’s luxury handbags market.
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Based on material type, the global luxury handbags market has been categorized into leather, cotton, synthetic, and others. The leather segment is expected to remain dominant during the forecast period. This can be attributed to the availability of various varieties of fine leather. However, the use of synthetic material for luxury handbags is on the rise owing to better designs and freedom in styles offered by these materials.
With respect to consumer group, the global luxury handbags market has been categorized as men, women, and unisex. The women segment is expected to hold the highest market share due to the availability of a variety of styles. However, the men segment is expected to register the highest CAGR due to the wide product offerings by market players in the office bag and wallet categories.
As per distribution channel, the market has been bifurcated into store-based and non-store-based. The store-based segment is expected to remain dominant during the review period as stores offer consumers the option to touch and feel the products before purchase. However, the non-store-based segment is expected to exhibit a higher growth rate during the forecast period due to competitive pricing and convenience. Moreover, advancements in e-commerce offer safe and secure door-to-door delivery for premium and delicate handbags. Furthermore, the availability of renowned luxury handbag brands in online stores and several offers and deals for online purchase are expected to propel the growth of the non-store-based segment during the forecast period.
Latest Industry Update
In September 2018 Michael Kors GmbH, the manufacturer of affordable luxury handbags, acquired Gianni Versace S.r.l. for USD 2.1 billion. The acquisition was carried out to build a larger, more efficient business holding that would rival that of the French conglomerates such as Louis Vuitton (LVMH) and Kering S.A.
Key Players
Some of the key players in the global luxury handbags market are Prada S.p.A (Italy), PVH Corp. (US), Atelier (US), Tory Burch LLC (US), Dolce & Gabbana S.R.L. (Italy), Chanel S.A. (France), Burberry Group PLC (UK), Louis Vuitton (France), Ralph Lauren Corporation (US), Michael Kors GmbH (Switzerland), Guccio Gucci S.p.A (Italy), Valentino S.p.A. (Italy), Giorgio Armani S.p.A (Italy), Cartier International SNC (France), and MCM Worldwide (Germany).
Regional Analysis
The global luxury handbags market has been regionally segmented into North America, Europe, Asia-Pacific, and the rest of the world.
The European market is expected to be the largest during the review period. High per capita disposable incomes and the presence of major brands are driving the demand for luxury handbags in the region. The market for luxury handbags in Asia-Pacific is estimated to register the highest growth rate, primarily due to the increasing per capita disposable incomes in China, Japan, and India and the fast-growing online retail sector.
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Report of Fitness App Market is currently providing a comprehensive analysis of the many things that are contributing to economic growth and factors that can play an important role in the growth of the market in the forecast period.Increasing urbanization has advanced the lifestyle of the middle-class population, and has spurred market growth along with the growth of health awareness among individuals.
Users of fitness and health apps tend to show great brand consistency.
This app has been developed specifically to assist users with exercise and other forms of physical training, nutrition and diet, health tracking or other fitness related topics.
The diet and nutrition feature of the fitness app helps you plan and implement a healthy nutrition plan.
The motor function is used to wrap up your weight training to help you lose weight.According to Flurry Analytics results, 96% of users use only one fitness and health app.
by FitNow, Inc. has launched a new app called EmbodyDNA, a DNA-based weight loss planning provider that delivers personalized results through an in-app collective experience.
The Smart Lighting and Control Systems Market is estimated to grow from USD 13.4 billion in 2020 and projected to reach USD 30.6 billion by 2025, at a CAGR of 18.0%.The major factors driving the growth of the market include the advent of integrated lighting control systems, upcoming smart city projects in developing economies, increasing adoption and decreasing cost of LEDs, integration of lighting solutions with smart devices, and growing awareness about energy savings among consumers and governments worldwide.
These lighting systems provide detection and control at spatial resolution, increasing the demand for Smart Lighting and Control Systems during the forecast period.Get Sample Report Copy Here: https://introspectivemarketresearch.com/request/15526?utm_source=VLAKey Players Covered in Smart Lighting and Control Systems market are :Eaton CorporationAcuity BrandsElgato SystemsHoneywell InternationalLutron ElectronicsGeneral Electric CompanyKoninklijke Philips NVBelkin InternationalBy Type, Smart Lighting and Control Systems has been segmented into:Smartphone Enabled TechnologyDaylight Sensing TechnologyProximity Sensing TechnologyRegions and Countries Level Analysis:North America (U.S., Canada, Mexico)Europe (Germany, U.K., France, Italy, Russia, Spain etc.
)Asia-Pacific (China, India, Japan, Southeast Asia etc.
)The Smart Lighting and Control Systems Market for lighting and fixtures is expected to occupy a major share over the forecast period mainly due to the advent of integrated lighting control with lamps and fixtures.
Integrating lighting control products with lighting fixtures allows you to embed the software into the microcontroller, which can add intelligence to the entire lighting control system.Key Purpose to Buy this Report: Gain a comprehensive understanding of the global Smart Lighting and Control Systems Market through insightful analysis of the market.
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SegmentationThe global cyclohexane market is categorized on the basis of application, end use industry, and region.
On the basis of the application, the cyclohexane market is categorized into nylon 6, nylon 66, polyester polyol, and others.
On the basis of the end use industry, the market is bifurcated into food packaging, defense, textiles, automobile, electrical, and others.
On the basis of the region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.Key PlayersSome of the prominent players operating in the global cyclohexane market are Reliance Industries Limited (India), BASF (Germany), The Dow Chemical Company (U.S.), Chevron Phillips Chemical Company (U.S.), Clariant (Switzerland), China Petroleum & Chemical Corporation (China), CEPSA (Spain), Idemitsu Kosan Co., Ltd. (Japan), CITGO Petroleum Corporation (U.S.), and BP Refining & Petrochemicals GmbH (Germany).
As a result of cyclohexane’s intrinsic link to the polyamide (Nylon) chain and its use in automobiles, construction, and textiles, global cyclohexane demand remains strongly influenced by macroeconomic conditions.
Cyclohexane is largely consumed for the production of nylon 6 fibers, thermoplastics, and films.Increasing crude oil production reduces the raw material demand gap, rising demand for cyclohexane incorporated fibers for textiles, and increasing automobile production fuels the nylon based thermoplastics for manufacturing of automotive parts.
Market HighlightsA smoothie is a blend of fruits and vegetables with yogurt or milk.
Smoothies offer essential nutrients such as vitamins, minerals, and phytochemicals.
Based on type, the global smoothies market has been segmented into fruit-based, vegetable-based, and blends.
The fruit-based smoothie segment is expected to account for the largest and fastest-growing market during the forecast due to the wide variety of fruit-based smoothies available in the market.
However, the popularity of leafy vegetables such as kale, spinach, collard greens, and lettuce in smoothies is expected to drive the growth of the vegetable-based smoothie segment.
The key players are introducing innovative bottle designs that are convenient to carry.
The Global Luxury Handbags Industry Segmentation has the potential to surpass the estimated valuation of USD 33.94 billion at a CAGR of 6.8% during the forecast period of 2019 to 2024.
The growing participation from several companies in building a more integrated market would assist the market in its growth in the coming years.Luxury handbags are costlier than the conventional handbags mainly due to the material used in their making, finishing, and design.
Due to hike in e-commerce section the global non-stored based channel can witness significant growth.
However, the store-based segment would also enjoy the presence of a number of clients who prefers to experience before buying.Region-wise analysis in the report of the market for luxury handbags cover the inclusion of North America and Europe as strong revenue-generators.
The Asia-Pacific (APAC) region has been named as a potential game-changer and the Rest of the World (RoW) would show a moderate growth.Browse Full Report @ https://www.marketresearchfuture.com/reports/luxury-handbags-market-7922Europe is at the top of the global market and it shows immense potential to retain that position in the coming years as well.
A number of companies are operating from the region, which gives the region an advantage owing to which the market would rise significantly in the coming years as well.
