Russia Bags And Containers Market Outlook

russia is well known for its quality and value-for-money bags and containers. sales of russia’s bags and containers in 2018 is estimated to reach $28 billion, being mainly driven by growing demand from consumers and commercial industries. the key trends driving the market for bags and containers in russia include increasing focus on environmentally-friendly goods, increasing household income and a growing number of e-commerce consumers. consumers are becoming more engaged in their choice of bags and containers, seeking products that match their individual lifestyle needs. in terms of types, the segment of wallets and handbags remain the largest contributor. in terms of materials used, leather and faux leather materials continue to lead sales. the fabrics segment, meanwhile, is anticipated to grow at a faster pace due to their appeal amongst the younger, fashion-forward consumer. the manufacturing of bags and containers in russia is highly fragmented, to meet all of the needs of the consumer. some of the key players in the market are such as ferre, italian (i-sport) imports, letan, sanle, baker and kapoor group. these companies integrate sourcing, design and manufacturing, creating a platform for them to better penetrate the country’s market. in terms of distribution channels, the industry heavily relies on online sales. growing internet access means more people are turning towards online shopping to make their purchase. this trend is further driven by the powers of convenience, competitive prices, wide selection and faster delivery times. in addition, brick and mortar retailing is also increasing, with many companies setting up stores to target potential local consumers. overall, the outlook for russia’s bags and containers market is positive. growing incomes and a larger consumer base are bolstering demand. meanwhile, the need for environmentally-friendly products and a growing number of online platforms are opening up new opportunities for growth. in order to continue to meet the evolving needs of the consumer, companies in the sector will need to provide innovative and value-for-money products.