What is Luggage Market?
Luggage comprises of bags or container that is used to keep traveller’s objects while transiting from one place to other. The travelers use this for the various purpose including travel necessities, carry clothing, toiletries and other articles. Many top players are focusing on designing and manufacturing smart luggage with smart features such as smart locking system, traceability and the growth of the very market has been attributed to the rise in travel and tourism activities across the globe.
The market study is being classified by Type (Casual bags, Travel bags and Business bags), by Application (Specialist Retailers, Factory outlets and Internet sales) and major geographies with country level break-up.
Samsonite International S.A. (United States), VIP Industries (India), VF Corporation (United States), Briggs & Riley Travelware (United States), Rimowa GmbH (Germany), MCM Worldwide (Germany), Louis Vuitton (LV) (France), IT Luggage (United Kingdom), Adidas (Germany), LVMH (France) and Nike (United States) are some of the key players profiled in the study.
Research Analyst at AMA predicts that United States, German Vendors will contribute to the maximum growth of Global Luggage market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Luggage market by Type, Application and Region.
On the basis of geography, the market of Luggage has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Changing lifestyles and increasing urbanization
- Surging business activities
- Rising travel and tours across the globe and Increasing travel & tourism industry growth on a global level
Market Trend
- Surging deployment of Global Positioning System (GPS) tracker, USB port that enables application for recharging battery of cell phones
Restraints
- Growing influence of unorganized luggage industry in Asia-Pacific and Africa regions
Opportunities
- Surge in high-net-worth-individuals globally
- Rise of wide distribution channel including e-commerce
- Increasing travel & tourism industries across the world
Challenges
- Risk of counterfeiting and negative currency
Market Leaders and some development strategies
In April 2017, Samsonite International S.A. acquired travel bag retailer e-Bags Inc.
Key Target Audience
Luggage Manufacturers, Raw Material Suppliers, Luggage Distributors and Suppliers, End Users and Others