Tote Bags Market Size to Hit $ 3.44 billion at Striking CAGR of 4.60% By 2029: Industry Rising Demand in USA, UK and ROW
August 5, 2022
The adoption of tote bags is rapidly increasing amongst women across all regions. Rising demand for tote bags can be attributed to availability of wide rangePUNE, MAHARASHTRA, INDIA, August 5, 2022 /EINPresswire.com/ -- Data Bridge Market Research analyses that the Global Tote Bags Market was valued at USD 2.40 billion in 2021 and is expected to reach the value of USD 3.44 billion by 2029, at a CAGR of 4.60% during the forecast period.
Packaging is becoming increasingly important in protecting and preserving the product from harmful rays, dust, or moisture during transportation. It serves as primary packaging to protect the product from contamination or chemical reaction. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
North America dominates the tote bags market due to men's and women's increasing preference for tote bags to carry products and rising disposable income in this region. Due to rising retail sectors in developing countries such as India and China, as well as an increase in working women in the global workforce, Asia-Pacific is expected to be the fastest growing region in terms of tote bag market growth.
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A tote bag is a type of handbag with parallel handles on both sides of the pouch. Compared to other handbags, it saves space and allows you to carry multiple items at once conveniently. Cloth, fabric, nylon, and jute are common materials. There has been a significant increase in the availability of tote bags in various shapes and sizes, which aids in the transportation of goods and products ranging in size from a grocery item to laptops.
CAPRI Holdings acquired Versace, a luxury fashion brand, in June 2019. The acquisition enabled the company to broaden its portfolio in the luxury tote bag domain. Furthermore, as a result of this acquisition, CAPRI Holdings can now increase its sales in multiple regions by leveraging Versace's extensive distribution network. This enabled the company to gain a 25% market share in the global tote bag market.
Samsonite International S.A. announced the acquisition of eBags, a leading digital retail specialist in the bag industry, in April 2020. As a result of this acquisition, the company can now dominate the online tote bag retail sector. As a result, the company has dominated the online retail domain of the global tote bag market.
Some of the major players operating in the tote bags market are
Burberry Group Plc (U.K.)
Capri Holdings Limited (U.S.)
Dolce and Gabbana Srl (Italy)
Double R Bags (India)
Giorgio Armani Spa (Italy)
Hermes International SA (France)
PRADA Group (Italy)
Ralph Lauren (U.S.)
Samsonite IP Holdings S.à r.l. (HongKong)
Tapestry Inc. (U.S.)
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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The tote bags market is segmented on the basis of application, material, pattern, size and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Casual Every Day Tote
Business and Travel Tote
PVC (Polyvinyl Chloride)
Geographically, the Tote Bags Market size by revenue is broken down by 20+ countries from North America, LATAM, the Middle East, Asia Pacific, Africa, and Europe based on various characteristics such as geographic footprints and business operation locations of players.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Reason to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Tote Bags Market.
Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
The key findings and recommendations highlight crucial progressive industry trends in the Tote Bags Market, thereby allowing players to develop effective long term strategies in order to garner their market revenue.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
Browse Complete Table of Contents at: https://www.databridgemarketresearch.com/toc/?dbmr=global-tote-bags-market
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