The development status of the global women’s handbag industry

Women’s bags, this noun is a derivative of the gender classification of bags. Bags that have gender distinctions and are limited to women’s aesthetics are collectively referred to as women’s bags. Women’s bags are also one of the accessories for women. According to the domestic classification, it is generally divided into functions: short wallets, long wallets, cosmetic bags, evening bags, handbags, shoulder bags, backpacks, messenger bags, travel bags, chest bags and multifunctional bags. Or according to the material: leather, PU leather, canvas, cotton and so on. The foreign classifications are roughly: WALLET wallet, COSMETIC BAG (cosmetic bag), HANDBAG (handbag), which is divided into TOTE (handbag), SHOULDERBAG (shoulder bag), BUCKETBAG (bucket bag).
1. The development status of the global women’s handbag industry market

According to the “In-depth Research and Development Prospect Analysis Report on the Current Situation of China’s Women’s Bag Industry (2022-2029)” released by Guanyan Report Network, as of 2021, the global market size of the women’s bag industry will reach US$63.372 billion. From a regional perspective, Asia has a relatively high population density. The regions represented by emerging economies such as China have a high proportion of the women’s bag market. Asia is also the world’s largest regional market for women’s bags. In addition, Europe and the United States. The regions are typical consumption areas of high-value products, and the high unit price of customers also makes these regions become the main regional markets for women’s bags, especially the high-end women’s bag market.
Second, the market development status of China’s women’s handbag industry
1. Market size
my country’s textile industry has always been one of the most important light industries in my country. The luggage industry also occupies an important position in the textile industry. Women’s bags are more obvious because of the characteristics of consumers, strong willingness to replace consumption, and more non-rigid consumption, making the industry There has been no obvious downward trend. In 2021, the market size of the domestic women’s handbag industry is about 114.635 billion yuan.
(1) Leather women’s bag
As the main material of high-end women’s bags, leather is often used in women’s bags of well-known brands. In recent years, with the growth of women’s purchasing power in my country, the market size of leather women’s bags has continued to expand, reaching 39.32 billion yuan in 2021.
2) Composite women’s bag
With the continuous application of various composite materials, the types of composite women’s handbags are constantly enriched, and the market size of the industry has gradually increased. In 2021, the market size will reach 75.315 billion yuan.
2. Supply situation
The distribution of the domestic luggage industry chain is reflected in the serious polarization in the market. First, the domestic luggage pattern is generally low-end, weak in brand power, and low in markup rates. The unit price is generally below 500 yuan. Second, overseas brands occupy high-end product lines, with unit prices ranging from thousands to tens of thousands of yuan, with high mark-up rates. The break of the brand has become a good opportunity for the development of domestic cost-effective luggage brands such as Aihuashi and 90Fen. The sales of luggage and bags priced at 300-1000 yuan are hot.
China’s luggage production has accounted for more than 70% of the world’s share, and has occupied a dominant position in the world. As the world’s largest manufacturer of luggage, China has more than 20,000 luggage manufacturers, producing nearly one-third of the world’s luggage, and its market share is huge. In recent years, with the rapid development of the luggage industry, the number of luggage companies in China is also increasing. At present, they are mainly concentrated in the coastal provinces of Guangdong, Fujian, Zhejiang, Shandong, Shanghai, Jiangsu, and the inland Hebei and Hunan provinces. The improvement of the level has driven the sales scale of China’s luggage industry.
China’s luggage industry has a long industrial chain and many circulation links. The emergence of e-commerce has broadened sales channels and innovated the business model of luggage companies. E-commerce reduces transaction costs, consumers can directly contact new products and new brands, and can quickly purchase bags of different brands, while luggage companies can conduct product introduction, promotion, and sales through the Internet, shortening the circulation and transaction links, improving efficiency. With the increasing maturity of e-commerce and related platform operation models, operating costs will continue to decrease, and the e-commerce of the luggage industry will be the general trend.
Among them, live broadcast delivery has been particularly prominent in the past year. Its authenticity, real-time interactivity, and a sense of safe distance across the screen have met the strong consumer demand of people who are inconvenient to travel during the epidemic, making live broadcast delivery a dark horse. Attitude has become a traffic portal that major brands have seized. Under the huge flow of air, there are many ways to join hands with popular anchors, the boss to end the live broadcast in person, and create a brand live broadcast room. The luggage industry has also tested the water live broadcast. Among them, luggage brands such as Aihuashi and Bremen have performed outstandingly. They have established good cooperative relations with Weiya, Li Jiaqi, Lieerbao, Sydney and other leading Taobao anchors, and achieved good reputation and sales. In addition, Aihuashi has also set up brand live broadcast rooms of Tao Department, Douyin and other channels to deepen interaction with users, which has been widely recognized by fans.
The luggage industry has a significant brand effect. China’s domestic luggage products are concentrated in the middle and low-end markets, with weak brand influence and low unit prices. In the context of consumption upgrades, consumers are paying more attention to the product quality and brand awareness of luggage, and the personalized and intelligent mid-to-high-end luggage market has great potential for development.
According to statistics, in 2019, the output of domestic women’s bags was about 2.239 billion. In 2020, the industry maintained steady growth, reaching 2.245 billion. In 2021, the output of women’s bags was about 2.351 billion, and the growth rate was lower than in previous years.
3. Demand situation

With the improvement of living standards and the change of people’s ideas, modern women have higher and higher requirements for self-image, and women show themselves in various ways. Luggage has become an indispensable commodity like clothing and cosmetics. According to statistics from relevant departments, in first-tier European cities with developed fashion industries, the ratio of clothing stores, shoe stores, and luggage and handbag stores is about 2:1:1, and second-tier cities generally reach 4:2:1. But in China, even in first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, the ratio of clothing stores, shoe stores, and luggage and handbag stores is only 50:5:1 at most. Comparing these two disparate ratios shows the huge market of China’s luggage market. In the future, the market will expand capacity by more than 20 times, and the market has great potential.
In 2019, the apparent sales of women’s bags in my country reached 963 million. In 2020, due to the impact of the new crown epidemic, the apparent sales of women’s bags will slow down. The annual sales volume will reach 970 million, and it will increase to 1.032 billion in 2021.
4. Analysis of supply and demand balance
For a long time, my country has been a major exporter of the textile industry, and the women’s bag market is no exception. In the domestic market, the production and sales rate of my country’s women’s bag market has always been less than 50%, and a large amount of women’s bag production capacity is digested through overseas markets.
5. Competitive landscape

The women’s handbag industry can be divided into luxury, high-end, mid-range and mass. At present, there are many enterprises in my country’s women’s handbag industry as a whole, the industry’s entry threshold is relatively low, and the number of small and medium-sized enterprises in the industry is relatively large, resulting in serious polarization in my country’s women’s handbag industry. The luxury and high-end product lines are firmly occupied by foreign brands, and the mid-end market is Foreign brands compete with domestic leading brands, and the mass market is dominated by many domestic small and medium-sized brands.

Due to the relatively mature market of the women’s handbag manufacturing industry and the low entry threshold for the industry, there are a large number of women’s handbag companies in my country, and there is currently no leading company with a monopoly advantage. In recent years, the income level of Chinese residents has increased. In the future, under the general trend of industry branding, the industry market concentration is expected to further increase.

6. Market concentration
According to domestic development, the competition in my country’s women’s handbag market is quite fierce, especially among small and medium-sized brands. They can only rely on price wars to gain the market. , the market concentration is not high, the advantages of the leading companies in the market are not obvious, and the product differences between various brands are small. In 2021, the CR4 of domestic enterprises is about 16.75%, and the market is in an obvious competitive pattern.