Market Size of Middle East and Africa Handbags Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA Handbags Market Analysis
The Middle East and Africa handbags market is projected to register a CAGR of 5.2% during the forecast period, 2022-2027.
The sales of handbags in the Middle East and Africa region is witnessing the highest in the past decade owing to the changing fashion trend and increasing working population in the region. The rise in disposable income is an added advantage for consumers to spend more on handbags. However, the outbreak of COVID-19 has resulted in diminished consumer spending on fashion goods such as handbags and hence constrained the manufacturers to increase the price of the product to compensate for their revenue loss during this period.
Over the medium term, the market is expected to grow due to the rising popularity of handbags, particularly tote bags, satchels, and clutches among women consumers. In addition, affluent buyers increasingly prefer luxury products due to their purchasing power. This has led to the penetration of international brands in the region through the expansion of offline stores, such as luxury department stores and boutiques, across key countries including Saudi Arabia, Qatar, and UAE. For instance, in 2021, the luxury brand Dellaluna Venetian Maroquinerie debuted its presence in the United Arab Emirates by launching its exquisite handbag collection at Tryano Abu Dhabi.
MEA Handbags Industry Segmentation
A handbag is a type of fashion accessory that is a handy, medium-to-large bag used to carry personal items. The handbag market is segmented by product type, distribution channel, and geography. By product type, the market is segmented into satchels, bucket bags, clutches, tote bags, and other product types. By distribution channel, the market is segmented into online retail stores and offline retail stores. It provides an analysis of emerging and established economies across the region, comprising the United Arab Emirates, Saudi Arabia, South Africa, Qatar, and the Rest of the Middle East and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).
| By Type | |
| Satchel | |
| Bucket Bag | |
| Clutch | |
| Tote Bag | |
| Others |
| Distribution Channel | |
| Offline Retail Stores | |
| Online Retail Stores |
| Geography | |
| United Arab Emirates | |
| Saudi Arabia | |
| South Africa | |
| Qatar | |
| Rest of Middle East and Africa |
Middle East and Africa Handbags Market Size Summary
The Middle East and Africa handbags market is experiencing significant growth, driven by evolving fashion trends and an increasing working population. The rise in disposable income has further encouraged consumers to invest more in handbags. Despite the initial setback due to COVID-19, which led to reduced consumer spending and price adjustments by manufacturers, the market is rebounding. The popularity of handbags, especially tote bags, satchels, and clutches among women, is on the rise. Affluent consumers are increasingly drawn to luxury products, prompting the expansion of international brands in the region through offline stores in countries like Saudi Arabia, Qatar, and the UAE. Companies are innovating and expanding their product lines to meet diverse consumer preferences, with strategies such as mergers and acquisitions to enhance their offerings and geographical reach.
The United Arab Emirates stands out as a key market, with consumers favoring luxury handbags due to their high purchasing power and the country's status as a luxury shopping destination. The steady growth of the handbag industry in the UAE is fueled by fashion-conscious consumers and a surge in tourism. Premium brands like Michael Kors and Kate Spade attract the young, ambitious population with competitive pricing. The presence of major players such as LVMH, Gucci, and Kering, along with an advanced distribution network, provides a competitive edge. Continuous innovation is essential for these players to adapt to the rapidly changing fashion landscape. Initiatives like Kering's 'Fashion Our Future' and Chanel's new product launches highlight the dynamic nature of the market, while the introduction of e-commerce platforms, such as Louis Vuitton's site in Saudi Arabia, underscores the shift towards digital retailing.
Middle East and Africa Handbags Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Satchel
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2.1.2 Bucket Bag
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2.1.3 Clutch
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2.1.4 Tote Bag
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2.1.5 Others
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2.2 Distribution Channel
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2.2.1 Offline Retail Stores
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2.2.2 Online Retail Stores
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2.3 Geography
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2.3.1 United Arab Emirates
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2.3.2 Saudi Arabia
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2.3.3 South Africa
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2.3.4 Qatar
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2.3.5 Rest of Middle East and Africa
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Middle East and Africa Handbags Market Size FAQs
What is the current Middle East and Africa Handbags Market size?
The Middle East and Africa Handbags Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in Middle East and Africa Handbags Market?
Kering Group, Chanel, LVMH Moët Hennessy Louis Vuitton, Blueberry and Prada S.p.A are the major companies operating in the Middle East and Africa Handbags Market.
