Brazil Bags & Luggage Market Ecosystem
The Brazil Bags & Luggage market is moderately fragmented with major global players occupying almost half of the market. The key players operating in the market are competing on the basis of quality of product, product cost & estimated revenue. The major companies dominating the Brazil Bags & Luggage market for its products, services, and continuous product developments are Chanel, Giorgio Armani, Botkiar, GiGi New York, Hermes International, Artifact, Prada, Etsy among others
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- A boom in education opportunities abroad and increasing travel and tourism contribute to escalating luggage demand.
- The growing convenience of online shopping has led to a significant shift in consumer preferences in the purchase of travel bags and other luggage bags through e-commerce platforms, such as Amazon and eBay.
Sustainable: The rising demand for eco-friendly and sustainable handbags is one of the key drivers fueling the Brazilian handbags market growth. With the shift to eco-friendly products and increasing interest in minimizing the carbon footprint, consumers are starting to demand sustainable and eco-friendly handbags. As such, vendors focus on developing and promoting eco-friendly handbags that help reduce the negative environmental impact of the purse manufacturing process significantly. Traditional leather tanning is bad for people and disrupts the environment. As a result, there is an increase in demand for specific raw materials used in the production of handbags in nations all over the world. Thus, the increasing focus of vendors on manufacturing eco-friendly and sustainable handbags and the rising adoption of such products among consumers in Brazil are expected to drive the growth of the market during the forecast period.
Hearsay Strategies: The strong influence of celebrity endorsements on purchasing decisions is one of the key Brazilian handbags market trends propelling the market growth. Recommendations and the use of fashion products such as luxury handbags by celebrities act as catalysts in driving purchase decisions. Manufacturers of handbags and personal luxury goods adopt a variety of tactics and strategies to expand their market size. Celebrity endorsements are a popular marketing tool used by sellers to build their brand image and trigger sales of luxury handbags. This, in turn, will act as a catalyst propelling market growth in the near future.
Analysts at Ken Research in their latest publication, “Brazil Bags & Luggage Market Outlook 2027F– Driven by rising urbanization & fast fashion trends” by Ken Research observed that Brazil Bags & Luggage Market is in a growth phase & is expected to grow at a CAGR of ~% in the upcoming years owing to fast fashion trends. It is to be noted that the Brazil Bags & Luggage market is fragmented with major global brands occupying almost half of the market with companies competing not only on the basis of product quality, cost, demand for the product & estimated revenue.
Key Segments Covered
- By Product Type
- Travel bags
- Business Bags
- Leisure Bags
- Sports bags
- Others
- By Distribution Channel
- Online
- Offline(Supermarkets, Speciality store, others)
- By Market Structure
- Organized
- Unorganized
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- Price category
- Luggage Price Category(Mass Segment, Premium segment, Luxury segment)
- Handbag Price Category (Mass Segment, Premium segment, Luxury segment)
- Backpack Price Category (Mass Segment, Premium segment, Luxury segment)
- Duffel Bag Category (Mass Segment, Premium segment, Luxury segment)
- By Luggage
- Soft Luggage
- Hard Luggage
- Wheeled Luggage
- Non-Wheeled Luggage
Time Period Captured in the Report:
- Historical Period: FY’17- FY’22P
- Base Year: FY’22P
- Forecast Period: FY’23F – FY’27F
Key Target Audience
- Luggage Manufacturers
- Bags Manufacturers
- Retailer & Distributors
Key Players Covered
- Dolce & Gabbana
- Chanel
- Prada
- Artifact
- Etsy
- Hermes International
- Mulberry
- Giorgio Armani
Key Topics Covered in the Report:
- Executive Summary of Brazil Bags & Luggage Market
- Country Overview of Brazil Bags & Luggage Market
- Overview of Brazil Bags & Luggage Market
- Market Size of Brazil Bags & Luggage Market
- Market Segmentation Brazil Bags & Luggage Market
- Industry Analysis of Brazil Bags & Luggage Market
- Consumer Analysis of Brazil Bags & Luggage Challenges and restrains
- Competitive Analysis of Brazil Bags & Luggage Market
- Future Outlook of Brazil Bags & Luggage Services
- Covid Analysis of Brazil Bags & Luggage Market
- Analyst Recommendations
For more insights on the market intelligence, refer to the link below:-
Brazil Luggage and Bags Market
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