Saudi Arabia Bags and Luggage Market Future Outlook: Ken Research

How Is The Bags And Luggage Market Positioned In Saudi Arabia? What Are The Major Market Trends Driving The Industry?

The retail sector in Saudi Arabia has been growing at a CAGR higher than ~% in the last few years. It was estimated at value around USD ~billion in 2018. The brick-and-mortar retailers are expected to gradually adopt the omni-channel business model to establish and maintain constant touch with its customers by adapting to changes in consumer buying pattern. However, the customers in Saudi Arabia prefer to buy the bags and luggage through offline channel rather than an online channel. The Saudi Arabia bags and luggage market consist of luxury bags, non luxury bags and luggage sold in Saudi Arabia through the online as well as the offline channel. Most of the bags and luggage sold in Saudi Arabia are imported from European and Asian countries. There are some manufacturers of luxury bags in Egypt and Turkey but they represent a very small share of the overall market. The numbers of brands operating in the market has grown over as the years. Many fashion brands foresee Saudi Arabia as one of the most lucrative market in the world due to very high purchasing power of the customers.

Most of the bags manufacturers operate in Saudi Arabia through franchise model as it help them to reduce their financial and operational risk substantially. Some of the major retailers in the market are Splash, Lifestyle, Rubaiyat, Harvey Nicholas and others. The share of population belonging to 25-54 years of age is ~% of the total population. This age group is the target customers for most of the bags and luggage products. High per capita income which leads to high buying power is another major factor for high potential market. The favorable socioeconomic condition of Saudi Arabia leads to the growth of bags and luggage market. There has been an increase in supply of bags imported from neighboring countries such as Egypt and Turkey. The increase supply can be linked to growth of Egyptian and Turkish fashion designers. Egyptian brand Okhtein is an example, which sells luxury bags in Saudi Arabian market.

What Are The Major Types Of Bags Selling In The Saudi Market?

Handbags dominated the Saudi Arabian bags market generating nearly two third of the revenue in 2018. Bags have an extensive product reach which include backpacks, cross body bags, handbags, wallets and coin pouches and most of these bag types are used on a daily basis and are considered a necessity and hence have a comparable share in the overall market.

The demand for bag packs has grown in the last few years especially due to rising number of laptop users and current trend. Major Brands have been continuously innovating their product to match the fast changing need of the customers. It has been observed that the number of people engaging in sports activities have been increasing in last few years. Gym bags are also getting very popular among young generation who loves to own specific accessories for specific purpose. The rise of athleisure trend has created an entirely new range of consumers.

What Are The Major Types Of Handbags Trending In The Market?

The Saudi Arabia handbag market is divided into three categories luxury, premium and economy. Premium category leads the market and is followed by luxury and economy category. Business bags have become a necessity for the people of Saudi Arabia, it has been observed that many customers have started to foresee business bags as a lifestyle statement which has prompted them to spend more. This shift in consumer behavior has resulted in increase demand for luxury business bags in the country. Cross body bags are not currently in fashion there is demand for these types of bags in the last five years. Some of the luxury brands have traditionally focused their marketing communication on ladies. However, a trend was noticed where some of the brands are targeting men especially through media advertising. Luxury segment is expected to register the fastest growth rate of ~% from 2018 to 2023. The economy segment will grow at the slowest rate of ~% in the above mentioned period.

Key Segments Covered

Market Segmentation of Bags Market

Types of Bags

Backpacks

Business Bags

Cross body Bags

Duffel Bags

Handbags

Wallet

Other Bags

Type of Handbag

Luxury

Premium

Economy

By Distribution Channel

Multi Brand Outlets (MBOs)

Exclusive Brand Outlets (EBOs)

Local Retailers

Online Sales

By Material

Leather (inc faux and Suede leather)

Non Leather

By Region

Central

West

South

East

North

Market Segmentation of Luggage Market

By Price Segment

High (SAR 500<)

Medium (SAR 250- SAR 500)

Low (SAR 250>)

By Case Type

Hard Case

Soft Case

By Region

Central

West

South

East

North

By Sales Channel

Online

MBOs

EBOs

Local Retailers

Time Period Captured in the Report:

Historical Period: 2013-2018

Forecast Period: 2019-2023E

Companies Covered:

Louis Vuitton (LVMH)

Avon Products Inc.

VF Corporation

Samsonite international SA

Adidas AG

Nike Incorporated

Herschel Supply Co.

Hermes’s

Marithé et François Girbaud

Key Topics Covered in the Report

Value Chain Analysis

Market Size,2013-2018

Market Segmentation

Trends and  Developments

Issues and Challenges

Trade Scenario

Porter’s Five Forces Analysis 

Competitive Scenario

Company Profile of Major Players

Future Market Size. 2018-2023

Future Market Segmentation, 2023E

Analyst Recommendation

Wallet Industry Saudi Arabia

Backpack Market Saudi Arabia

Business Bag Sales Saudi Arabia

Luggage Turnover KSA

Hard Case Luggage Sales KSA

Imported Bag Sales Saudi Arabia

Luxury Handbag Market KSA

Saudi Arabia Bags and Luggage Market

Saudi Arabia Bags and Luggage Industry

Bags and Luggage Businesses Saudi Arabia

Saudi Arabia Bags and Luggage Market Revenue

Major Companies Bags Saudi Arabia

Major Companies Luggage Saudi Arabia 

Saudi Arabia Bags Sales

Saudi Arabia Luggage Revenue

Handbag Market KSA

Bags Luggage Distribution Channels Saudi Arabia

Bags Sales in Riyadh

Luggage Market in Saudi Arabia

Bags Market Trends KSA

Luggage and Bags Future Saudi Arabia

Luggage and Bags Recent Developments

Samsonite Saudi Arabia Market

Avon Saudi Arabia Market

Louis Vuitton Saudi Arabia Market

Adidas Saudi Arabia Market

Nike Saudi Arabia Inc. Market

Capri Holding Company Bags

Luggage and Bags Target Consumers Saudi Arabia

Bags demand Saudi Arabia

Luggage retailers Saudi Arabia

Online Bags sales Saudi Arabia

Bags importers Saudi Arabia

For More Information on the research report, refer to below link:

Saudi Arabia Bags and Luggage Market

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