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Tote Bags Market Report by Technavio expects USD 7.47 Bn Incremental Growth

·14 min read

NEW YORK, July 20, 2022 /PRNewswire/ -- The global tote bags market size is expected to grow by USD 7.47 billion between 2021 and 2026. According to the report, the market will observe a YOY growth of 5.29% in 2022, and the growth momentum is expected to accelerate at a CAGR of 6.37% during the forecast period. According to the report, the market will observe high growth in APAC. The increasing demand for luxury consumer products is creating high growth opportunities for vendors operating in the region. The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies. Download a PDF Report Sample

Technavio has announced its latest market research report titled Tote Bags Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026
Technavio has announced its latest market research report titled Tote Bags Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The tote bags market is fragmented due to the presence of several international and domestic players. The established market players enjoy a competitive advantage owing to their scale of operations and brand name. The high compliance costs caused by increased stringency of regulations are creating entry barriers for new players. Also, the capital-intensive nature of the market is making it difficult for new players to sustain themselves in the global tote bags market. However, vendors are implementing various strategies like new product launches and mergers & acquisitions (M&As) to remain competitive in the market.

Personalization and customization of luxury tote bags have been instrumental in driving the growth of the market. In addition, the increased demand for tote bags at airport retail stores will further accelerate the growth of the market. However, the fluctuating operational costs including labor, logistics, and raw material costs might hamper the market growth. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Burberry Group Plc, Capri Holdings Ltd., CHANEL Ltd., Dolce and Gabbana Srl, Double R Bags, Giorgio Armani Spa, Hermes International SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Mulberry Group Plc, PRADA Group, PVH Corp., Ralph Lauren Corp., Ronak Industries, Samsonite International SA, Tapestry Inc., Targus Inc., Tods Spa, VF Corp., and VIP Industries Ltd. are identified as some of the major market participants. View Report Sample Here

The tote bags market is segmented as below:

  • Distribution Channel

The offline segment accounted for maximum sales of tote bags in the market in 2021. The increased sales of tote bags through specialty stores, including exclusive brand stores, multi-brand stores, apparel stores, factory outlets, airport retail stores, and personal goods stores; hypermarkets, supermarkets, convenience stores, clubhouse stores, and department stores is driving the growth of the segment. Also, the growth of the retail industry and the establishment of new retail outlets will positively influence the growth of the market in the offline distribution channel segment.

  • Geography

About 33% of the overall market growth will originate from APAC during the forecast period. Factors such as high consumer confidence, high disposable income, and growing urbanization have been crucial in driving the growth of the regional market. In addition, the growing fashion industry and the increasing number of fashion events are contributing to the growth of the tote bags market in APAC. Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The tote bags market report covers the following areas:

Tote Bags Market 2022-2026: Key Highlights

  • CAGR of the market during the forecast period 2022-2026

  • Detailed information on factors that will assist tote bags market growth during the next five years

  • Estimation of the tote bags market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the tote bags market

  • Analysis of the market's competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of tote bags market vendors

Related Reports:

Tote Bags Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.37%

Market growth 2022-2026

USD 7.47 billion

Market structure

Fragmented

YoY growth (%)

5.29

Regional analysis

Europe, APAC, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 33%

Key consumer countries

US, China, Japan, France, UK, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Burberry Group Plc, Capri Holdings Ltd., CHANEL Ltd., Dolce and Gabbana Srl, Double R Bags, Giorgio Armani Spa, Hermes International SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Mulberry Group Plc, PRADA Group, PVH Corp., Ralph Lauren Corp., Ronak Industries, Samsonite International SA, Tapestry Inc., Targus Inc., Tods Spa, VF Corp., and VIP Industries Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2021

  • 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Distribution Channel

  • 5.1 Market segments

  • 5.2 Comparison by Distribution Channel

  • 5.3 Offline - Market size and forecast 2021-2026

  • 5.4 Online - Market size and forecast 2021-2026

  • 5.5 Market opportunity by Distribution Channel

6 Customer Landscape

  • 6.1 Customer landscape overview

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 Europe - Market size and forecast 2021-2026

  • 7.4 APAC - Market size and forecast 2021-2026

  • 7.5 North America - Market size and forecast 2021-2026

  • 7.6 Middle East and Africa - Market size and forecast 2021-2026

  • 7.7 South America - Market size and forecast 2021-2026

  • 7.8 US - Market size and forecast 2021-2026

  • 7.9 China - Market size and forecast 2021-2026

  • 7.10 France - Market size and forecast 2021-2026

  • 7.11 UK - Market size and forecast 2021-2026

  • 7.12 Germany - Market size and forecast 2021-2026

  • 7.13 Japan - Market size and forecast 2021-2026

  • 7.14 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Impact of drivers and challenges

  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview

  • 9.2 Vendor landscape

  • 9.3 Landscape disruption

  • 9.4 Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 Burberry Group Plc

  • 10.4 Capri Holdings Ltd.

  • 10.5 CHANEL Ltd.

  • 10.6 Kering SA

  • 10.7 LVMH Moet Hennessy Louis Vuitton SE

  • 10.8 PRADA Group

  • 10.9 PVH Corp.

  • 10.10 Samsonite International SA

  • 10.11 Tapestry Inc.

  • 10.12 VF Corp.

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Inclusions and exclusions checklist

  • 11.3 Currency conversion rates for US$

  • 11.4 Research methodology

  • 11.5 List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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