by Global Luggage Market Analysis According to Planet Market Reports, Global Luggage Market was valued at USD 28. 05 Billion in 2018 and is projected to reach USD 57.694 Billion by 2026, growing at a CAGR of 9.45 % from 2019 to 2026.
What is Luggage? Luggage is passenger s personal belongings carried while travelling on board an aircraft, ship, or bus, whether checked or unchecked. Luggage consists of bags, cases, and containers which hold a traveller s stuff while the traveller is in transit.
Luggage Market Dynamics
Trends: The growing demand for ultra-lightweight luggage is one of the major trends being observed in the luggage market. Lightweight luggage is easier to carry and handle and provides comfort to customers. Luggage companies are utilizing raw materials, such as polycarbonate resins, to decrease the weight of the luggage. Polycarbonate and other high-tech plastics form the hard sides of luggage, as they are strong and lightweight. Moreover, they also help reduce the overweight charges on airplanes.
Drivers: The expanding tourism industry is primarily driving the growth of the market worldwide. The changing recreation patterns and increasing disposable income of the global population are the major reasons for the growth of the travel and tourism industry. From 2010 to 2013, Europe was the largest tourism destination, followed by Asia-Pacific. As luggage is an important part of travel and tourism activities, this factor is fueling the growth of the luggage market.
Global Luggage Market Outlook In early days, most traditional types of luggage were chest and trunk. Over a period of time luggage has changed a lot. The luggage market is viewing a boom, with new advances and accessibility of air travel, the global luggage market has renovated itself by offering small lightweight, colourful and stylish bags that cater to various needs of the travellers. Growing travel and tourism industry, rise in migration of population, and increasing disposable income is fuelling the growth pace.
Global Luggage Market Competitive Landscape The “Global Luggage Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as LVMH, Adidas, V.F. Corporation, Samsonite International S.A. and V.I.P. Industries Ltd., Rimowa GmbH, Hermès, Kering SA, Shanghai Taifeng Cases Co Ltd, and Safari Industries Ltd. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
Segmentation by Product
• Travel
• Business
• Sports
• Others
Segmentation by Distribution Channel
• Offline
• Online
Luggage Market by Geographic Scope
- Asia-Pacific China, Southeast Asia, India, Japan, Korea, Western Asia
- Europe Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland
- North America United States, Canada, Mexico
- Middle East & Africa GCC, North Africa, South Africa
- South America Brazil, Argentina, Columbia, Chile, Peru
Key Questions Addressed/Answered in the Report
- What is the current scenario of the global luggage market?
- What are the historical size and present size of the categories within the market segments and their future potential?
- What are the major catalysts for the market and their impact during the short, medium, and long terms?
- What are the evolving opportunities for the players in the market?
- Which are the key regions from the investment perspective?
- What are the key strategies being adopted by the major players to expand their market share?
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