Global Luggage Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

“Global Luggage Market Analysis, Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global unified communication market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. Global luggage market report has been segmented on the basis of material type, product type, distribution channel, and region.

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This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our researchers have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Overview:

Global luggage market is gaining significant traction owing to increasing international tourism and increasing demand for premium smart travelling bags. Major players are using strategies such as new product launches, market initiatives, agreements, joint ventures, partnerships, and acquisitions to increase their footprint in the market.

Dynamics:

Major driving factors for the global luggage market are increasing urbanization, increasing in disposable income, and substantial growth of travel and tourism sector. In addition, increasing frequency of travelers is propelling growth of the market over the forecast period.

Customers growing inclination towards high-end luggage such as bags integrated with GPS (Global Positioning System) trackers, Bluetooth-equipped locks, USB ports for charging cell phones are some value added features expected to boost demand for the target market over the forecast period. These add-on features in smart travelling bags enable to customers to track and secure their luggage during travel.

However, presence of counterfeit products in the market is expected to limit growth of the global luggage market over the forecast period. In addition, counterfeit products are of low quality, nonetheless a large number of customer base prefer to purchase these products since they are cost-effective, which is expected to challenge growth of the global market to a certain extent. Majority of unorganized luggage market players in various emerging countries are expected to act as a barrier for organized market. In addition, unorganized market players offer products to customer at cheaper price as compared to existing brands.

Analysis by segment:

Among product type segments, the travel bag segment is expected to account for potential share in the global market, owing to increasing demand for leisure and recreational holidays.

Among the distribution channel segments, the online stores segment is expected to grow rapidly owing to increasing penetration of e-commerce.

Analysis by region:

The market in Asia Pacific is projected to dominate in the global luggage market, owing to increasing business travel and recreational travelling over the forecast period. North America market is expected to witness significant growth, owing to rising demand for smart travelling bags, sport bags, and light-weight bags over the forecast period.

Global luggage market segmentation:

On the basis of material type:

• Soft
• Hard
• Hybrid

On the basis of product type:

• Casual Bag
• Travel Bag
• Business Bag
• Others (Smart bag)

On the basis of distribution channel:

• Supermarkets
• Hypermarkets
• Online Stores
• Specialty Stores

On the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

• Rimowa GmbH
• Victorinox Swiss Army, Inc.
• Samsonite International S.A.
• F. Corp.
• Antler Ltd.
• Delsey S.A.
• Bric's Industria Valigeria Fine SpA
• Etienne Aigner AG (Hartstone Group Plc)
• VIP Industries Ltd.