Handbags - Eastern Asia

Eastern Asia

Highlights

In Eastern Asia, the revenue generated in the Handbags market is estimated to be US$12.17bn in 2024.
It is projected that the market will experience an annual growth rate of 4.83% from 2024 to 2029 (CAGR 2024-2029).
When compared to other countries around Worldwide, United States generates the highest revenue in this segment, with an expected revenue of US$13bn in 2024.
Taking into account the total population figures, the per person revenue generated in Eastern Asia is approximately US$7.45 in 2024.
Eastern Asia's handbag market is booming, with a growing demand for luxury brands like Chanel and Gucci.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on accessories, including watches and jewelry, as well as luggage and bags. that are produced for private end consumers. Retail sales through both offline and online sales channels are included.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, market data from third-party sources (e.g., independent databases), historical developments, current trends, as well as survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and consumer spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for making forecasts about the Accessories market, which is projected to grow steadily. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).