The Handbag Market is Projected to Expand at a 5.9% CAGR Until 2029: Industry Analysis

The Business Research Company

The Business Research Company’s Handbag Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, December 17, 2025 /EINPresswire.com/ -- The handbag industry has experienced notable growth in recent years, fueled by evolving fashion trends and increasing consumer demand. As the market continues to expand, it is set to witness further developments influenced by various social and economic factors. Let’s explore the current market size, key growth drivers, leading regions, and emerging trends shaping this sector.

Market Size and Growth Outlook for the Handbag Market
The handbag market has seen strong expansion recently, with its value projected to rise from $63.07 billion in 2024 to $67.18 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.5%. This upward trend during the previous period has been supported by factors such as evolving fashion styles, the impact of luxury brands, increased disposable incomes, celebrity endorsements, and the versatile utility of handbags. Looking ahead, the market is expected to reach $84.6 billion by 2029, growing at a CAGR of 5.9%. This future growth is anticipated to be driven by sustainability efforts, the growing popularity of secondhand and vintage markets, personalized and customized products, cross-industry partnerships, and the globalization of fashion. Key trends predicted to influence the market include digital influencer marketing, technological advances, new material innovations, and a stronger focus on inclusivity and diversity.

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Understanding the Handbag as a Fashion Accessory
Handbags primarily serve as fashionable accessories for women to carry daily essentials. These items come in an extensive variety of sizes, designs, and colors. Typically, handbags are crafted by stitching together multiple pieces of fabric or leather, offering both style and practicality to the user.

The Role of Female Workforce Growth in Expanding the Handbag Market
One of the significant factors propelling the handbag market is the rising participation of women in the workforce. The female workforce represents the segment of employed women engaged across various industries and professions. As more women attain financial independence and enter professional environments, their buying power increases. This growing empowerment encourages investment in accessories like handbags that suit professional and social lifestyles. For example, in March 2023, data from the UK Parliament indicated that female employment in the UK reached 72.3% between October and December 2022. Such trends underscore how the expanding female workforce is contributing notably to handbag market growth.

View the full handbag market report:
https://www.thebusinessresearchcompany.com/report/handbag-global-market-report

Geographical Regions Leading the Handbag Market
In 2024, North America stood as the largest regional market for handbags. However, the Asia-Pacific region is expected to witness the fastest growth during the forecast period. The handbag market analysis encompasses several key regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, providing a broad view of global market dynamics.

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