The Changing Landscape of Indian Handbag Market

The Indian handbag market, segmented as clutches and wallets, shoulder bags, satchels and saddlebags, and totes, has grown manifold over the last decades. This growth has also spawned several homegrown brands, which today compete with global brands on their home turf and, at the same time, are either eyeing a global presence or mulling further expansion.

- N Bobo Meitei

Sumita Mehta, a well-paid government employee, always wanted to own a stylish and good-quality tote for daily use and a clutch for social gatherings. However, browsing a prominent market like Delhi's Sarojini market for the bags she desired was both difficult and time-consuming; trusting her instincts and limited product knowledge, she occasionally purchased the right products; otherwise, it was pure disappointment. This was then, long before the Indian economy was liberalized. Her daughter's generation can now freely choose from a diverse product range offered by multiple brands. Unlike Mehta, today people no longer have to travel to major shopping destinations in other countries to buy high-end products as they are present in most Indian metros.

According to a report by Research and Markets, the handbags market in India is poised to grow by $207.51mn during 2022-2026, progressing at a CAGR of 4.90% during the forecast period. The Indian handbag market, segmented as clutches and wallets, shoulder bags, satchels and saddlebags, and totes, has grown manifold over the last decades. This growth has also spawned several homegrown Indian brands, which today compete with global brands on their home turf and, at the same time, are either eyeing a global presence or mulling further expansion.

Key Drivers