Overview:

The global luggage market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. The products which are mainly used to carry personal belongings during travel are called as luggage or baggage. There are various types of bags or suitcase or cases which are referred as luggage.

Market Dynamics:

Growing tourism across the globe resulting in high demand for luggage’s that are convenient and comfortable to carry during travelling is a major factor expected to drive the growth of global luggage market. Additionally, major players approach towards introduction of innovative products in order to attract customer is expected to further support growth of the target market.

In addition, rising strategic moves by key players to tap major market share is expected to fuel the target market growth in the near future. For instance, in 2019 Victorinox AG in collaboration with Swiss International Air Lines launched a product line with products such as carry-on luggage, laptop bags, and trolleys.

Increasing demand for light weight bags and suitcase is another factor expected to further support growth of the target market in the near future. However, factor such as highly fluctuation raw material cost is expected to hamper growth of the global luggage market to a certain extent.

Key Trends:

Major players inclination towards adoption of online distribution channel in order to increase the customer base is key trend supporting growth of the target market. In addition, key players approach towards merger and acquisition activities in order to enhance the market share is another trend witnessed in the global luggage market. For example, in 2016 Louis Vuitton SE a multinational luxury goods conglomerate acquired Rimowa GmbH.

Regional Analysis:

For detailed understanding of market dynamics, the global market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific luggage market is expected to hold significant revenue share in the global market owing to increasing spending on travel and tourism activities and high economic growth of the countries in the region. In addition, major player’s inclination towards emerging economies in order to increase the customer base and enhance the profit margin is another factor expected to further support growth of the target market in the Asia Pacific region. The Europe holds second largest market share in the global market.

Scope of the Report:

Detailed Segmentation:

Global Luggage Market, By Product Type:

• Travel Luggage
• Casual Luggage
• Business Luggage
• Sports Luggage
• Other

Global Luggage Market, By Distribution Channel:

• Offline Retail
• Online Retail

Key Players Covered:

Key players operating in the market includes, Tapestry Inc., Rimowa GmbH, Louis Vuitton Malletier, S.A., Victorinox Swiss Army, Inc., Samsonite International S.A, Coach Inc, VF Corporation, Antler Limited, Delsey S.A., Bric's Industria Valigeria Fine SpA, Etienne Aigner AG, and VIP Industries Limited.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Luggage Market by product type, distribution channel, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global luggage market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.