North America Handbag Market to Grow Gradually by Achieving a Valuation of USD 27.96 billion by 2032 with a CAGR of 9.40% during the Forecast Period

The North America handbag market size was valued at USD 13.78 billion in 2024. The market is projected to grow from USD 14.91 billion in 2025 to USD 27.96 billion by 2032, exhibiting a CAGR of 9.40% during the forecast period of (2025-2032).

As per a report by Fortune Business Insights™ titled, “North America Handbag Market Size, Share & COVID-19 Impact Analysis, By Product Type (Tote, Clutch, Satchel, and Others), By Raw Material (Leather and Fabric), By End-User (Men and Women), By Distribution Channel (Departmental Stores, Mass Market, Off-Price, and Others), and Country Forecast, 2025-2032”

Consumers nowadays commonly use handbags for their accessory needs and regular clothing. In the production process, companies face an obstacle in recollecting the general scrap leather quality and workability. Companies are introducing various production methods to produce high-quality leather bags and avoid such issues.

Rise in Luxury Handbag Market Prices to Endure Market through COVID-19

Recently, companies have been increasing the prices of handbag items to limit their total COVID-19 sales. From April to May 2020, noticeable brands such as Prada, Gucci, and Chanel trekked the rates of their bags in the U.S. and European markets. Shutting down the brand clothing and specialty stores owing to the COVID-19 lockdown regulations, mainly in Canada, and the U.S., subsequently poses challenges to Chandel, Prada, Gucci, and other luxury brands to allocate their products by such stores.

Coach owned a Luxury Fashion Brand that Introduced Coachtopia

Coach, a Tapestry, Inc.-owned luxury fashion brand, launched Coachtopia, a circular sub-brand delivering designer luxury handbags in the American market. Coach is tackling waste and extending a handbag’s lifecycle with the launch of Coachtopia- a circular sub-brand that reimagines otherwise discarded material into completely new accessories.

Consumers’ Adoption of Purses as their Regular Fashion Demand to Propel the Markets

Growing consumer taking luxury handbags as their daily fashion need to fuel the market’s growth. Furthermore, easier consumer availability of cross-body purses and clutches of elegant designs and luxury patterns will drive the demand for such things. Increasing consumer awareness regarding the accessibility of such purses through applications and social media sites such as Snapchat, Instagram, and others is driving the North America handbag market growth.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/north-america-handbag-market-105566

Product Launch is the Strategies Adopted by Key Companies to escalate their Business

Companies mainly focus on launching boutiques in the Mexican and Canadian markets to grow their business in these countries. Delvaux was acquired by Compagnie Financière Richemont S.A., a Belgian luxury clutches maker, to escalate its presence in the leather clutches category. The company’s introduction of acquisition strategies could help it build an existence in the market.

Notable Industry Development:

• March 2022: Vera Bradley Sales LLC. a U.S.-based lifestyle brand, partnered with Hope Girls, a Dominican Republic-based non-profit organization, and launched a line of limited edition handbags in the U.S.

List of the Companies Profiled in the Report:

• Tapestry Inc. (U.S.)
• Michael Kors USA (U.S.)
• LVHM (France)
• Longchamp (France)
• Vera Bradley Sales LLC. (U.S.)
• CHANEL LIMITED (U.K.)
• Tory Burch LLC (U.S.)
• Kering Pinault S.A. (France)
• PVH Corp. (U.S.)
• Prada Holding S.P.A. (Italy)

Further Report Findings:

• The U.S. market was projected to hold the dominant the market share. U.S. holds a leading position in the North American market due to the massive usage of various handbags among the U.S. population.
• The growing adoption of premium shoulder bags among the middle and lower-income groups of the population drives the Canadian market growth.
• The Mexican population mainly prefers fashion goods from native manufacturers such as POPPY BARLEY, Collectiva Concepcion, Jaime Ibiza, PANTERA, and many others over foreign brands.

Table of Segmentation: