Europe Handbags Market Report and Forecast 2024-2032

Europe Handbags Market Size

The Europe handbags market reached around USD 17.02 billion in 2023. The market is projected to grow at a CAGR of 5.8% between 2024 and 2032 to reach nearly USD 28.27 billion by 2032.

Europe Handbags Market Outlook

• In 2018, the European fashion industry reported EUR 400 billion worth of retail sales.

• The UK, France, Italy, Germany, and Spain collectively accounted for 72% of all retail sales in 2018.

• China was the largest exporter of fashion goods to EU28 in 2018.

Europe Handbags Market Growth

Greece has emerged as a prominent market for luxury goods within Europe due to the expansion of retail stores and the growth of the tourism industry. In 2022, net sales of personal luxury goods in Greece recorded a year-on-year growth of 36.1%, reaching EUR 509.8 million. Between 2018-2022, net sales of luxury goods brands have grown at a CAGR of 13.2%. The ROCE (return on capital employed) of personal luxury products in Greece has increased at a CAGR of 8.7% between 2018 and 2022, while recording the highest year-on-year growth of 32% in 2021 between 2021 and 2022, reaching 29.4%. In 2022, the number of international travellers in Greece surged by 89.3% year-on-year, which led to the growth of retail sales of luxury goods. These trends are expected to influence the market for handbags in Europe in the coming years.

Rising smartphone penetration and internet accessibility rates have contributed to the growth of handbag sales in Europe on online platforms. Western European countries such as France, Germany, and the United Kingdom command a 67% share in the total turnover achieved through e-commerce sales while contributing 5.2% to Europe’s e-GDP in 2023. Cyprus, Greece, Italy, and other southern European countries occupy a 16% share in total turnover. However, eastern regions of Europe are witnessing the fastest rate of growth in total turnover, which is expected to contribute to the increased sales of handbags in Europe.

Europe Handbags Industry Segmentation

Europe Handbags Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Raw Material

• Leather

• Fabric

• Others

Market Breakup by Product Type

• Satchel

• Bucket Bag

• Clutch

• Tote Bag

• Others

Market Breakup by Category

• Mass

• Premium

Market Breakup by Distribution Channel

• Online

• Offline

Market Breakup by Country

• United Kingdom

• Germany

• France

• Italy

• Others

Europe Handbags Market Share

Based on country, the market is segmented into the United Kingdom, Germany, France, and Italy, among others. Over the forecast period, Germany is expected to grow at a CAGR of 6.6% due to the introduction of unique designer handbags.

Leading Companies in the Europe Handbags Market

Experiential retail has transformed the product purchasing journey for handbag consumers by allowing them to know the unique craftsmanship and heritage of each product. This boosts the functional and social value of each handbag and enables brands to strategically differentiate themselves from their competitors.

• Burberry Group Plc

• Fossil Group Inc.

• LVMH Moet Hennessy Louis Vuitton SE

• Prada Holding S.p.A.

• Kering S.A.

• Hermes International S.A.

• Chanel S.A.

• Tapestry Inc.

• Capri Holdings Limited

• Furla S.p.A.

• Others

Key Highlights of the Report