Industry Background:
Travel luggage is a container or bag which used to hold the trip necessities such as clothing, toiletries, and small possessions. It consists of, containers, segments, however, the advances in the accessibility while travelling, compact and lighter suitcase bags carried by individual become the main form of travel luggage. Increasing leisure travels and business coupled with rising disposable income and organized retailing have led to increased demand for travel luggage. For instance, the use of technology and demand for smart travel luggage including multiple features such as GPS locators, USB ports, has become the game-changer in the travel industries and gaining popularity in the market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Samsonite International S.A. (Hong Kong), VIP Industries Ltd. (India), RIMOVA (Germany), VF Corporation (United States), Briggs & Riley (United States), DELSEY (France), Fox Luggage Inc (United States), American Tourist (United States), Skybags (India) and WINSUN IMP. & EXP. (CHINA) |
This growth is primarily driven by Surge In Traveling and Tourism Is Driving the Demand for Travel Luggage and Increasing Demand For Innovative Is Useful, Known For Style and Usability of Travel Luggage.
Globally, a noticeable market trend is evident Modern Retailing and New Fashion Trends Are In Demand for Travel Luggage
Major Vendors, such as Samsonite International S.A. (Hong Kong), VIP Industries Ltd. (India), RIMOVA (Germany), VF Corporation (United States), Briggs & Riley (United States), DELSEY (France), Fox Luggage Inc (United States), American Tourist (United States), Skybags (India) and WINSUN IMP. & EXP. (CHINA), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Key Developments in the Market:
In November 2022, Weaver Leather LLC has acquired of Ohio Travel Bag (OTB), a Solon, Ohio-based supplier and distributor of hardware and related products that has served a multitude of industries. with the acquisition shared values of quality and fast shipping to uphold and expand an excellent shopping experience for all the customers both companies serve.
In May 2019, Victorinox AG launched premium robust and water repellent bags in its Vx Touring Collection. The travel bags, when exposed to tough weather and water, will resist abrasion and repel water.
Influencing Trend:
Modern Retailing and New Fashion Trends Are In Demand for Travel Luggage, Technological Innovative Smart Travel Luggage Are Trending and Adoption of Online Platform for Sales by Various Vendors
Market Growth Drivers:
Surge In Traveling and Tourism Is Driving the Demand for Travel Luggage and Increasing Demand For Innovative Is Useful, Known For Style and Usability of Travel Luggage
Challenges:
Travel Luggage size, dimensions and weight are also a critical determinants
Restraints:
High Cost of Raw Material for Travel Luggage
Opportunities:
According to needs & choices and variation in the requirement and needs makes the end-user to demand travel luggage in various styles and this offers the opportunity for the travel luggage in the world
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Travel Luggage Market
- Analysis about New Entrants in Travel Luggage Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Travel Luggage Study Sheds Light on
The Travel Luggage Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Travel Luggage industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Travel Luggage industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.