Tote Bag Market Size to Reach USD 3.44 Billion with a Striking CAGR of 4.60% by 2029: Growing Industry Demand in US, UK and Rest of the world
The adoption of tote bags is growing rapidly among women in all regions. The growing demand for tote bags can be attributed to the availability of a wide range
PUNE, MAHARASHTRA, INDIA, August 5, 2022 /EINPresswire.com/ — Data Bridge Market Research analyzes that the Global tote bag market was valued at USD 2.40 Billion in 2021 and is projected to reach the value of USD 3.44 Billion by 2029, at a CAGR of 4.60% during the forecast period.
Packaging is becoming more and more important to protect and preserve the product from harmful rays, dust or humidity during transport. It serves as the primary packaging to protect the product from contamination or chemical reaction. In addition to 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 team Research includes in-depth expert analysis, import/export analysis, price analysis, production consumption analysis, patent analysis and consumer behavior.
North America dominates the tote bag market due to the growing preference of men and women for tote bags to carry products and the increase in disposable income in this region. Due to the boom in retail sectors in developing countries such as India and China, as well as the increase in the number of women working 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 easily carry multiple items at once. Cloth, fabric, nylon, and jute are common materials. There has been a significant increase in the availability of tote bags in different shapes and sizes, which make it easier to transport goods and products ranging from groceries to laptops.
CAPRI Holdings acquired Versace, a luxury fashion brand, in June 2019. The acquisition allowed the company to expand its portfolio into luxury tote bags. Additionally, as a result of this acquisition, CAPRI Holdings can now increase 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 SA announced the acquisition of eBags, a leading digital retail specialist in the bag industry, in April 2020. With this acquisition, the company can now dominate the bag industry. online retail sale of tote bags. 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 bag market are
Burberry Plc Group (United Kingdom)
Capri Holdings Limited (United States)
Dolce and Gabbana Srl (Italy)
Double R Bags (India)
Spa Giorgio Armani (Italy)
Hermes International SA (France)
PRADA Group (Italy)
Ralph Lauren (USA)
Samsonite IP Holdings S.à rl (Hong Kong)
Tapestry Inc. (USA)
The country section of the report also provides individual market impacting factors and changes in market regulations that impact current and future market trends. Data points such as upstream and downstream value chain analysis, technical trends and bearer five forces analysis, case studies are some of the indicators used to forecast the market scenario for each country. In addition, the presence and availability of global brands and the challenges they face due to significant or rare competition from local and national brands, the impact of domestic tariffs and trade routes are considered while providing a forecast analysis of national data.
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The tote bag market is segmented on the basis of application, material, pattern, size, and distribution channel. The growth among these segments will help you analyze weak growth segments in the industries and provide users with valuable market insight and market insights to help them make strategic decisions to identify major applications of the market.
Everyday Casual Tote
Business and travel tote
PVC (polyvinyl chloride)
Geographically, the Tote Bag market size in terms of revenue is broken down by 20+ countries across North America, LATAM, Middle East, Asia-Pacific, Africa and Europe by depending on various characteristics such as geographical footprints and operating locations of the actors.
The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables in the market and primary validation (industry expert ). Apart from this, the data models include Vendor Positioning Grid, Market Timeline Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, pricing analysis, company market share analysis, measurement standards, global vs. region and supplier share analysis. To learn more about the research methodology, submit a request 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 Bag Market.
Highlights key business priorities to guide companies to reform their business strategies and establish themselves in the vast 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 using substantial growth offering in both developed and emerging markets.
Discuss in depth the global market trends and outlook associated with the factors driving the market, as well as those restraining the growth to some extent.
Improve the decision-making process by understanding the strategies that drive business interest with respect to products, segmentation, and industry verticals.
Browse the full table of contents at: https://www.databridgemarketresearch.com/toc/?dbmr=global-tote-bags-market
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