The global Slim Wallet Market size was USD 8.75 Billion in 2021 and is expected to register a revenue CAGR of 8.3% over the forecast period, according to the latest report by Reports and Data. Rising popularity of leather products owing to dust proof, durability, and crack-proof properties, growing fashion industry, and rising demand for leather goods are factors driving revenue growth of the market.
Wallets are now a critical component of fashion accessories since they express a person's personal style, therefore, Slim Wallet Market is expanding positively along with the fashion industry. People's growing fashion consciousness has driven the Slim Wallet Market to expand and it is expected to grow over the forecast period. In addition, another factor driving the market is increase in individual consumer expenditure on fashion accessories.
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Top Profiled Companies in the Global Slim Wallet Market Report:
Hermès, Calleen Cordero Designs, Inc., The Donna Karan Company Store LLC, Dolce Gabbana, Changshu Maydiang Leather Co., Ltd., Bottega Veneta, Ralph Lauren, Tapestry, Inc., Fossil Group, and KERING.
Major Driving Factors of Slim Wallet Market
- Increasing Disposable Income: Rising disposable income among individuals has a direct impact on the Slim Wallet Market. As people have more money to spend, they are likely to invest in high-quality wallets that offer durability, functionality, and style.
- Growing Fashion Consciousness: The increasing fashion consciousness among consumers, particularly in urban areas, has led to a higher demand for stylish and trendy wallets. Consumers are now seeking wallets that complement their personal style and overall fashion sense.
- Technological Advancements: The integration of technology in wallets, such as RFID-blocking capabilities or smart wallets with electronic features, has significantly influenced the market. The demand for technologically advanced wallets that offer enhanced security and convenience has been on the rise.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
Type Outlook (Revenue, USD Billion; 2019-2030)
- Slim Wallets
- Billfolds
- Clutch Wallets
- Long Wallets
- Coin Wallets
- Others
Material Outlook (Revenue, USD Billion; 2019-2030)
- Leather
- Cotton
- Synthetic
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Online
- Offline
Gender Outlook (Revenue, USD Billion; 2019-2030)
- Men
- Women
- Kids
Key Takeaways of the Global Slim Wallet Market Report:
- A comprehensive overview of the global Wallet industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Slim Wallet Market.
- Elaborate study of the leading regional markets in the global Slim Wallet Market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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