Key Insights
Essential data points from our research
The global handbag market was valued at approximately $47.57 billion in 2022
The market is expected to grow at a CAGR of 6.4% from 2023 to 2030
North America accounted for over 30% of global handbag sales revenue in 2022
The luxury handbag segment accounted for over $20 billion in 2022
65% of consumers consider brand name important when buying handbags
Online sales channels generated more than 25% of handbag purchases in 2022
Asia Pacific is projected to be the fastest-growing regional market, with a CAGR of 7.2% from 2023 to 2030
Over 70% of women in the US own more than one handbag
Coach is among the top 3 most purchased handbag brands in the U.S.
The average price of a luxury handbag is $2,000
The resale market for handbags is estimated at $9 billion annually
Gucci is the most searched handbag brand in the world on Google
35% of Gen Z consumers prefer buying luxury handbags through resellers
Brand Ownership and Competitive Landscape
- Coach is among the top 3 most purchased handbag brands in the U.S.
- Louis Vuitton is the most valuable luxury brand as of 2023, estimated at $124.8 billion
- Chanel earned an estimated $17.2 billion revenue in 2022, a big share from handbags
- Kate Spade is owned by Tapestry Inc., which earned over $6.3 billion in 2022
- Tapestry's handbag sales accounted for approximately 55% of total revenue in 2022
- SMEs and local artisans make up over 25% of the handbag market in India
- Counterfeit handbags account for nearly 30% of global counterfeit goods seizures
- The fastest-spiking handbag resale brand in 2023 was Telfar
- Over 100 new handbag brands launched globally in 2022
- LVMH owns more than 15 major handbag brands globally
Interpretation
In a global market where heritage houses like Louis Vuitton mint billions and upstarts like Telfar spark resale frenzies, the handbag industry proves that whether stitched by artisans in India or sold under conglomerates like LVMH and Tapestry, style is both big business and a battleground of authenticity.
Consumer Behavior and Preferences
- 65% of consumers consider brand name important when buying handbags
- Online sales channels generated more than 25% of handbag purchases in 2022
- Over 70% of women in the US own more than one handbag
- The average price of a luxury handbag is $2,000
- Gucci is the most searched handbag brand in the world on Google
- 35% of Gen Z consumers prefer buying luxury handbags through resellers
- Totes represent the most popular handbag type in the U.S.
- The average US consumer spends about $160 annually on handbags
- 60% of Europeans consider eco-friendliness when buying a handbag
- Digital influencers drive about 20% of luxury handbag consumer interest
- 78% of consumers follow at least one handbag brand on social media
- Leather remains the preferred material for 60% of handbag buyers globally
- The average luxury bag resale value holds at 70% of original retail price
- 52% of women claim handbags are a critical part of their fashion identity
- Mobile shopping accounted for 60% of online handbag sales in the U.S. in 2022
- The average number of handbags owned by American women is 11
- 43% of millennials shop for handbags more than once a year
- 28% of designer handbag purchases are impulse buys
- Brand authenticity is the top factor for 75% of luxury handbag buyers
- 34% of luxury handbag customers have purchased pre-owned items
- Over 1 in 5 consumers buy handbags during Black Friday
- 48% of handbag consumers say they upgrade bags every 1–2 years
- Handbag-related searches increase 40% during holiday seasons
- Zara's affordable handbags represent 18% of its accessory sales
- 22% of luxury handbags are sold duty-free internationally
- Crossbody bags accounted for 19% of all handbag sales in the US in 2022
- 67% of online customers return handbags due to size or style mismatch
- Over 45% of handbag consumers research product reviews before purchasing
- Vintage handbag content increased 3X on Instagram between 2020–2022
- 8 in 10 customers consider handbag warranty important in purchasing decision
Interpretation
In a world where your tote says as much about you as your tweets, today's handbag market is a digital-first, brand-obsessed, eco-curious, resale-savvy fashion battleground—where identity, impulse, and Instagram likes hold as much weight as Italian leather.
Market Size and Growth
- The global handbag market was valued at approximately $47.57 billion in 2022
- The market is expected to grow at a CAGR of 6.4% from 2023 to 2030
- The luxury handbag segment accounted for over $20 billion in 2022
- The resale market for handbags is estimated at $9 billion annually
- Michael Kors had $3.88 billion in revenue in 2022, a large portion from handbags
- Vegan leather handbags grew by 11% YoY in 2022
- Sustainable handbag materials usage projected to grow 14% YoY until 2027
- Women's handbags held over 85% of total market share in 2022
- Hermès Birkin bags appreciated by 14.2% annually between 1980–2015
- Over 300 million handbags were sold globally in 2022
- The US handbag market value is estimated at $13.5 billion in 2023
- The men’s handbag segment is growing at a CAGR of 8%
- Nearly 10 million handbags are sold annually in the UK
- TikTok drove over $500 million in handbag sales globally in 2022
- Burberry reported over £900 million in leather goods sales in FY 2022
- Italian handbag production dropped by 13% in 2020 due to COVID-19
- LVMH’s fashion and leather goods segment earned €38.6 billion in 2022
- Secondhand handbag sales are expected to outpace new by 2030
- Vegan handbags make up 3.2% of total handbag sales in the U.S.
- Faux leather handbags represent 12% of total hand-held accessory market
- YSL handbag division grew 45% YoY in Q3 2022
- Man-made leather handbags grew by $3 billion in market value from 2017–2022
- Clutches and mini bags grew by 8% in demand in 2022
Interpretation
In a world where handbags have become both a fashion statement and a financial asset—with luxury resale booming, vegan leather surging, and TikTok casually moving half a billion in sales—a well-chosen bag now says as much about your investment portfolio as it does your outfit.
Product Trends and Innovation
- Handbags account for 35% of total accessories profit margins for luxury brands
- Leather handbag production emits over 25 kg CO2 per unit
- 18% of handbag brands plan to increase their recycled material use in 2024
- Dior handbags contributed over 25% to the brand’s revenue in 2022
- Removable strap designs grew 9% in sales YoY in 2022
- Recyclable packaging is used by 57% of modern handbag brands
- The average luxury handbag weighs 2 to 3 pounds
- Faux-fur-trimmed handbags saw a 14% uptick in interest in 2022
Interpretation
In a world where a 3-pound purse can carry both a quarter of Dior’s revenue and 25 kilograms of carbon emissions, the handbag industry is strutting a fine line between profit and planet—with recycled straps and faux-fur flair trying to lighten the load.
Regional and Demographic Trends
- North America accounted for over 30% of global handbag sales revenue in 2022
- Asia Pacific is projected to be the fastest-growing regional market, with a CAGR of 7.2% from 2023 to 2030
- 82% of luxury handbag purchases are made by women aged 25–44
- Youth customers account for 32% of new handbag market entrants annually
Interpretation
While North America currently carries the weight of global handbag revenue, Asia Pacific is strutting down the fast-growth runway, powered by a rising tide of style-savvy young women ready to make luxury their everyday accessory.
