Pre-order Enquiry
Request Free Sample
Global Luggage Market - Growth, Trends, and Forecast (2022 - 2030)
SKU ID : INH-13104379 | Publishing Date : 18-Sep-2018 | No. of pages : 110
Luggage Market Insight
The global luggage market is projected to grow at the rate of 7.7% during the forecast period 2018 to 2023. Growing demand of high quality luggage products which are dustproof, fireproof, crack proof, and durability which is expected to increase growth of luggage market. Moreover, growing demand for travel bags, premium luggage, and other luggage products is influencing growth of luggage market from last few years. Growing government support for leather luggage industry is further driving the market growth. For instance, in India, 100% Foreign Direct Investment is permitted through the automatic route and government have reduced excise duty on leather luggage.
Key competitors are introducing different types of luggage bags due to increasing preference for different types of luggage products among customers. The market is witnessing new luggage products, for example- trolley bags, duffle bags, tote bags, collapsible spinners, and others which is driving the market growth across the globe.
Increasing Product Innovation to Drive the Luggage Market Growth
Growing innovation in travel luggage design with new features is driving the market growth of various luggage products including travel luggage, casual luggage, sport luggage etc. For instance, Micro Samsonite is combination of hand luggage, kickboard and trolley, which provides convenience of the travel. Rise in expenditure on luxury luggage goods including sports luggage and casual luggage is playing key role to drive the market growth. Growing consumer preference for branded luggage and improvement in distribution network by key players is supporting the growth of luggage market. Consumers are aware of the latest fashion trends due to growing internet penetration and rising adoption of social media platforms which is expected to increase consumer inclination towards branded luggage products. This factor is likely to drive revenue growth of the organized luggage market during the forecast period. Moreover, growing tourism industry around the globe has promoted the growth of travel luggage market and it is expected to play key role in luggage market growth during the forecast period.
Travel Luggage Segment to Witness Fastest Growth Rate during the Forecast Period
Growing popularity of tourism, adventure tours, and outdoor sports, especially in developing economies is driving the demand of travel luggage products. The relative growth in the global tourism and travel industry is supporting the growth of the global luggage market from last few years. Increasing demand of casual bags such as backpacks, female and male shoulder bags and wheeled duffel bags is influencing the market growth across the globe. Growing demand of business bags owning to convenience for carrying documents and laptops is expected to play key role to drive the market growth. Offline retail stores are playing key role to boost the sales of luggage products owning to strong distribution network of major luggage manufacturers. This also encourages leading market players to introduce trendy and innovative designs for luggage products. Additionally, growing demand for trendy premium casual bags, office bags, and other luggage is boosting growth of luggage market. However, decreasing raw material supply, growing influence of unorganized luggage industry is restraining growth of luggage market at some extent.
Asia-Pacific to Witness Significant Growth in the Luggage Market Growth
North America is expected to hold significant market share in luggage market and has become a saturated market with maximum market share in US, while Asia-Pacific region is witnessing more growth opportunities along with huge growth potential in the China and India luggage market. The growing expenditure on traveling and living standards result in an increased demand for travel luggage products. In Asia Pacific region, consumers are more likely to switch to high quality luggage products from ordinary products owning to rise in spending on lifestyle goods including office and sports luggage. However, the market is influenced by unorganized players in Asia-Pacific and Africa region which is likely to change market dynamics during the forecast period.
Key Developments in the Luggage Market
April 2018 - Samsonite extended its retail presence in China to capture major market share in Asia-Pacific region. The company has three strategies to attract Chinese customers: launching its own e-commerce platform, revamping its physical stores to make them more attractive to female customers, and continuously adding brick-and-mortar stores.
September 2017 - KARA has launched premium men bag named The Briefcase and The Duffle Bag with prices ranging from USD 425 to USD 750.
Competitive Landscape of Luggage Market
Major Key Players - ACE Luggage Co., Ltd., Adidas AG, Delsey S.A., Etienne Aigner AG, LVMH Moët Hennessy Louis Vuitton S.E, MCM Worldwide, Nike, Inc., Osprey Packs, Inc., Samsonite International S.A., Tumi Holdings, Inc., United States Luggage Company, LLC, VF Corporation, Victorinox Swiss Army, Inc. and VIP Industries Limited, among others.
Reasons to Purchase Luggage Market Research Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst supports, along with the Market Estimates sheet in excel
Customization of the Luggage Market Research Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
The global luggage market is projected to grow at the rate of 7.7% during the forecast period 2018 to 2023. Growing demand of high quality luggage products which are dustproof, fireproof, crack proof, and durability which is expected to increase growth of luggage market. Moreover, growing demand for travel bags, premium luggage, and other luggage products is influencing growth of luggage market from last few years. Growing government support for leather luggage industry is further driving the market growth. For instance, in India, 100% Foreign Direct Investment is permitted through the automatic route and government have reduced excise duty on leather luggage.
Key competitors are introducing different types of luggage bags due to increasing preference for different types of luggage products among customers. The market is witnessing new luggage products, for example- trolley bags, duffle bags, tote bags, collapsible spinners, and others which is driving the market growth across the globe.
Increasing Product Innovation to Drive the Luggage Market Growth
Growing innovation in travel luggage design with new features is driving the market growth of various luggage products including travel luggage, casual luggage, sport luggage etc. For instance, Micro Samsonite is combination of hand luggage, kickboard and trolley, which provides convenience of the travel. Rise in expenditure on luxury luggage goods including sports luggage and casual luggage is playing key role to drive the market growth. Growing consumer preference for branded luggage and improvement in distribution network by key players is supporting the growth of luggage market. Consumers are aware of the latest fashion trends due to growing internet penetration and rising adoption of social media platforms which is expected to increase consumer inclination towards branded luggage products. This factor is likely to drive revenue growth of the organized luggage market during the forecast period. Moreover, growing tourism industry around the globe has promoted the growth of travel luggage market and it is expected to play key role in luggage market growth during the forecast period.
Travel Luggage Segment to Witness Fastest Growth Rate during the Forecast Period
Growing popularity of tourism, adventure tours, and outdoor sports, especially in developing economies is driving the demand of travel luggage products. The relative growth in the global tourism and travel industry is supporting the growth of the global luggage market from last few years. Increasing demand of casual bags such as backpacks, female and male shoulder bags and wheeled duffel bags is influencing the market growth across the globe. Growing demand of business bags owning to convenience for carrying documents and laptops is expected to play key role to drive the market growth. Offline retail stores are playing key role to boost the sales of luggage products owning to strong distribution network of major luggage manufacturers. This also encourages leading market players to introduce trendy and innovative designs for luggage products. Additionally, growing demand for trendy premium casual bags, office bags, and other luggage is boosting growth of luggage market. However, decreasing raw material supply, growing influence of unorganized luggage industry is restraining growth of luggage market at some extent.
Asia-Pacific to Witness Significant Growth in the Luggage Market Growth
North America is expected to hold significant market share in luggage market and has become a saturated market with maximum market share in US, while Asia-Pacific region is witnessing more growth opportunities along with huge growth potential in the China and India luggage market. The growing expenditure on traveling and living standards result in an increased demand for travel luggage products. In Asia Pacific region, consumers are more likely to switch to high quality luggage products from ordinary products owning to rise in spending on lifestyle goods including office and sports luggage. However, the market is influenced by unorganized players in Asia-Pacific and Africa region which is likely to change market dynamics during the forecast period.
Key Developments in the Luggage Market
April 2018 - Samsonite extended its retail presence in China to capture major market share in Asia-Pacific region. The company has three strategies to attract Chinese customers: launching its own e-commerce platform, revamping its physical stores to make them more attractive to female customers, and continuously adding brick-and-mortar stores.
September 2017 - KARA has launched premium men bag named The Briefcase and The Duffle Bag with prices ranging from USD 425 to USD 750.
Competitive Landscape of Luggage Market
Major Key Players - ACE Luggage Co., Ltd., Adidas AG, Delsey S.A., Etienne Aigner AG, LVMH Moët Hennessy Louis Vuitton S.E, MCM Worldwide, Nike, Inc., Osprey Packs, Inc., Samsonite International S.A., Tumi Holdings, Inc., United States Luggage Company, LLC, VF Corporation, Victorinox Swiss Army, Inc. and VIP Industries Limited, among others.
Reasons to Purchase Luggage Market Research Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst supports, along with the Market Estimates sheet in excel
Customization of the Luggage Market Research Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
Request Sample
Request Discount
