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Mens Luxury Bag Market Trends

  • Report ID: GMI8135
  • Published Date: Feb 2024
  • Report Format: PDF

Men’s Luxury Bag Market Trends

Men's luxury bags have seen a trend towards more casual and versatile designs. Brands are offering bags that cater to both formal and casual occasions, reflecting the changing preferences of consumers for adaptable and multifunctional accessories. Consumers are increasingly drawn to personalized and unique products. Luxury bag brands are offering customization options, allowing customers to tailor their bags according to preferences, adding an exclusive and individualized touch. Luxury bags are incorporating technology features, such as built-in charging stations, smart compartments, and RFID blocking technology.

This trend reflects the integration of tech functionalities into everyday accessories, catering to the modern lifestyle. The influence of streetwear on men's fashion has extended to accessories, including luxury bags. Collaborations between luxury brands and streetwear designers or influencers have become more common, bringing a contemporary edge to traditional luxury products. The demand for sustainable and eco-friendly luxury products has been on the rise. Consumers are increasingly looking for men's luxury bags made from ethically sourced materials, with a focus on environmental responsibility and reduced ecological impact.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Men’s luxury bag market size reached USD 11 billion in 2023 and is set to expand at over 4.5% CAGR between 2024 and 2032 owing to the rising consumer demand for high-end products, especially in emerging economies.

The backpacks segment generated USD 3 billion in revenue in 2023 and is anticipated to grow through 2032 attributed to the ongoing trend towards more casual and versatile fashion.

North America men’s luxury bag industry accounted for 21% revenue share in 2023 and is estimated to exhibit robust growth through 2032 driven by the increasing presence of fashion conscious consumers across the region

Some of the popular men’s luxury bag industry players include Bottega Veneta, Burberry, Chanel, Fendi, Gucci, Hermès, Louis Vuitton, Prada, Ralph Lauren, Valentino, Versace, Yves Saint Laurent (YSL), and Zegna.

Mens Luxury Bag Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 250
  • Countries covered: 22
  • Pages: 387
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