Global Satchel and Saddle Bags Market 2015-2019
About Satchel and Saddle Bags
Satchel and saddle bags are among the most desirable and popular fashion products for men and women. They are not only comfortable and convenient to carry but have become a fashion statement. Modern day handbags are also seen as a status symbol that signify power and wealth. Consequently, the demand for luxury and premium handbags is gaining popularity and is being considered as individualistic identity and fashion statement. These bags have become the most desirable fashion accessory after footwear and jewelry. Various handbag companies are adopting innovative strategies according to the changing consumer demography and preferences, such as rising demand for eco-friendly handbags. Also, the launch of designer bags exclusively for men is gaining attention.
Technavio's analysts forecast the global satchel and saddle bags market, in terms of revenue and volume, to grow at CAGRs of 4.50% and 3.83%, respectively, over the period 2014-2019.
Covered in this Report
This report provides an overview of the global satchel and saddle bags market and an in-depth analysis of the usage of these products in the market. To calculate the market size, the report takes into account revenue generated from the sales of satchel and saddle bags by organized and unorganized retailers. The volume of sales is calculated on
the basis of total number of units sold by organized and unorganized retailers.
The scope of this report is limited only to saddle and satchel bags; it does not include products such as coin pouches, key pouches, and cellphone pouches, purses and wallets, shoulder bags, and totes. The report also presents the vendor landscape and a corresponding detailed analysis of the 13 major vendors in the market.Key Regions
Technavio Announces the Publication of its Research Report – Global Satchel and Saddle Bags Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Satchel and Saddle Bags Market: Burberry Group plc, Chanel SA, Coach Inc., Etienne Aigner, Furla, Hermès International SA, Kate Spade, LVMH, Michael Kors, Mulberry, Prada, Ralph Lauren and Tory Burch
Other Prominent Vendors in the market are: Alfred Dunhill, Baggit, Bryn Capella, Bottega Veneta, Buggatti, Calleen Cordero, Cambridge Satchel Company, Caprese, Changshu Maydiang Group, Da Milano, Dolce & Gabbana, Donna Karan International (DKNY), Ferrari, Fossil Guess, Giordano Fashions, Hidesign, Holi, J.W. Hulme, Kikuhiro, Kenneth Cole Productions, LADIDA, Lavie, L.Credi, LexiWynn, Lipault Paris, Longchamp, Lulu Guinness, Mandarina Duck, Mango Bags, Oroton Group, Paul Costello, Paul Smith, Powerland Group, PUIG, Puma, Ralph Lauren, River Island, Russell & Brombley, Smythson, TLG Brands, Vanessa Bruno, Victoria Leather, VF and Zatchels
Commenting on the report, an analyst from Technavio’s team said: “Increase in demand from working women is one of the key trends upcoming in the market. Working women readily spend money on handbags and luxury goods and are well informed about the different brands available. Most working women use their handbags for multiple purposes, such as to carry laptops or tablets, wallets, and food. Handbags are also seen as status symbols and representative of individualistic identity.”
According to the report, among the major consumer segments, the significant growth of the middle-income consumer group, in terms of disposable income and spending on lifestyle products, has been growing steadily in recent years. This, in turn, has made the middle-income consumer group a potential segment for vendors in the market.
Further, the report states that one of the main challenges hindering the growth of the market is the increasing competition from counterfeit or fake products. The easy availability of a number of cheap handbag brands in the market is leading to market fragmentation, resulting in a lack of price standardization, an uneven competitive scenario, and market share erosion.
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