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Colombia Handbag Market Size, Share, Trends, Analysis: By Product Type: Satchel, Clutch, Tote Bag, Others; By Raw Material: Leather, Fabric, Others; By Distribution Channel: Offline, Online; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Colombia Handbag Market Outlook
The Colombia handbag market size is estimated to expand at a CAGR of 6.90% between 2024 and 2032.
Key Takeaways
- Colombia imports most of its bags from the United States, Brazil, and Mexico.
- The key players are increasing their use of sustainably sourced materials, influenced by the increasing demand for vegan leather and eco-friendly materials.
- A notable market trend is a surge in demand for luxury and statement handbags, especially from women.
The Colombia handbag market growth is primarily driven by the expansion of the fashion industry and the increase in consumer purchasing power. The availability of handbags in a wide range of materials and unique designs has also created ample opportunities for market development. The market is further driven by the increasing customer spending on luxury goods and the introduction of new products with high-quality, premium feel, and distinct designs.
Leather, among other raw materials, holds a significant portion of the Colombia handbag market share. Leather bags are a popular choice among consumers because of their numerous advantages. Leather is known for its durability, long-lasting nature, and premium look. A well-made leather handbag can endure years of use, making it a wise investment for daily use. With a variety of finishes and colours available, leather handbags provide versatility in style.
Moreover, many leading bag manufacturers are now focusing on producing bags from natural and recycled organic materials, such as hemp, cotton, and jute, to cater to the environmentally conscious segment of the market. This shift towards eco-friendly products is expected to have a positive impact on the prospects of the market in the future years. The H&M Group, for instance, has already announced that a significant portion of the material it uses is sourced sustainably or made from recycled fibres. The commitment to sustainability is expected to play a major role in company's growth strategy.
Market Segmentation
Colombia Handbag Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type
- Satchel
- Clutch
- Tote Bag
- Others
Market Breakup by Raw Material
- Leather
- Fabric
- Others
Market Breakup by Distribution Channel
- Online
- Offline
Competitive Landscape
The market participants are prioritising the ethical sourcing of raw materials to promote sustainability and meet the needs of environmentally aware consumers.
- LVMH Moet Hennessy Louis Vuitton SE
- PVH Corp.
- Dolce & Gabbana S.r.l.
- Capri Holdings Limited
- CHANEL SA
- Adidas AG
- Fossil Group, Inc.
- H & M Hennes & Mauritz AB
- Andes Bags Ltda
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Raw Material |
|
| Breakup by Distribution Channel |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Handbag Market Overview
8.1 Key Industry Highlights
8.2 Latin America Handbag Historical Market (2018-2023)
8.3 Latin America Handbag Market Forecast (2024-2032)
8.4 Latin America Handbag Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Colombia
8.4.5 Others
9 Colombia Handbag Market Overview
9.1 Key Industry Highlights
9.2 Colombia Handbag Historical Market (2018-2023)
9.3 Colombia Handbag Market Forecast (2024-2032)
10 Colombia Handbag Market by Product Type
10.1 Satchel
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Clutch
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Tote Bag
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Others
11 Colombia Handbag Market by Raw Material
11.1 Leather
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Fabric
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Others
12 Colombia Handbag Market by Distribution Channel
12.1 Offline
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Online
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyers Powers
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 LVMH Moet Hennessy Louis Vuitton SE
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 PVH Corp.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Dolce & Gabbana S.r.l.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Capri Holdings Limited
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.5 CHANEL SA
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Adidas AG
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Fossil Group, Inc.
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 H & M Hennes & Mauritz AB
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Andes Bags Ltda
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Handbag Market: Key Industry Highlights, 2018 and 2032
2. Colombia Handbag Market: Key Industry Highlights, 2018 and 2032
3. Colombia Handbag Historical Market: Breakup by Product Type (USD Million), 2018-2023
4. Colombia Handbag Market Forecast: Breakup by Product Type (USD Million), 2024-2032
5. Colombia Handbag Historical Market: Breakup by Raw Material (USD Million), 2018-2023
6. Colombia Handbag Market Forecast: Breakup by Raw Material (USD Million), 2024-2032
7. Colombia Handbag Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
8. Colombia Handbag Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
9. Colombia Handbag Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 6.90% between 2024 and 2032.
The handbag market in Colombia is being driven by various factors such as the expansion of e-commerce platforms, the increasing impact of social media, and the growth of the fashion sector.
The key trends aiding the market expansion include the increasing demand for eco-friendly and sustainable products and the increasing sales of luxury bags.
The major product types are satchel, clutch, and tote bag, among others.
The major distribution channels in the market are online and offline.
The major players in the market are LVMH Moet Hennessy Louis Vuitton SE, PVH Corp., Dolce & Gabbana S.r.l., Capri Holdings Limited, CHANEL SA, Adidas AG, Fossil Group, Inc., H & M Hennes & Mauritz AB, and Andes Bags Ltda, among others.
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