Tote Bags Market

Tote Bags Market - Size, Share, Outlook, and
Opportunity Analysis, 2018-2026
Tote bags are large bags with two parallel handles that are stitched from the sides of
the bag. The dimension of a typical tote bag is such that its length is more than its
breadth.
Market Dynamics
Factors contributing towards growth of the global tote market during the forecast
period include, growing female employment, availability of variants, ban against the
use of plastic bags, and increased spending power in terms of fashion. According to
International Labor Organization’s report on Women at Work: Trends 2016, the
share of women in wage and salaried work more than doubled, from 26.3% in 1995
to 55.3% in 2015. Rising population of working women will contribute towards the
increasing sales of tote bags during the forecast period.
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However, other cheaper substitutes such as backpacks, laptop bags, handbags, and
paper bags can be a threat to the global tote bags market in the near future.
Market Outlook
In terms of material type, the canvas and cloth tote bags are comparatively cheaper
than leather and faux leather tote bags. Therefore, the demand for canvas and cloth
tote bags is expected to rise during the forecast period.
Among application segment, business & travel tote bags and laptop tote bags are
expected to have an increasing market share during the forecast period. As the
female employment is rising, the demand for tote bags will increase due to its
multipurpose usage. Along with storing a laptop, other essential items can be carried
in this bag due to its large size. Therefore, women are expected to prefer this
multipurpose tote bag over other bags.
On the basis of distribution channel, online store is expected to be the dominant
segment during the forecast period. Online stores aid in easy shopping from any
place and are convenient as compared to offline stores. According to the Associated
Chambers of Commerce and Industry in India (ASSOCHAM), an industry trade
association, the e-commerce market accounted for US$ 38.5 billion in 2017 and is
projected to exceed US$ 50 billion by 2025.
Key Players
Key players operating in the global tote bags market include Michael Kors,
Guangzhou Yaxin Leather Corporation Limited, XIAMEN NOVELBAG CO., LTD.,
BIDBI, H&M Group, Blivus Bags, and others.
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The research report on Tote Bags Market is segmented by Material Type, By Application, by Distribution Channel and by Region - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

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