New York City, NY: Aug 07, 2019 – (Wired Release) – The Luggage Market Report offers an unbiased and detailed study of the current trends, opportunities/ high growth areas, market growth drivers, that will help stakeholders to decide and align luggage business strategies according to the on-going and future market. The luggage market report provides the global market and region-wise market analysis. The luggage market report evaluate, keep records and serves the worldwide market size of the key players in each region across the globe. Also, the report serves information of the leading market players in the luggage market.
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.
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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.
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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
Key Players:
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.
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The report holds answers to important questions:
– What will be the estimated market size and the growth rate of the luggage for the forecast period, 2019 – 2028?
– What are the major driving forces shaping the progress of the luggage market worldwide?
– Who are the key industry players dominating the luggage industry and what has been their performance status so far?
– What are the major trends and challenges that have influenced the growth of the luggage market across different regions?
– What type of opportunities can the major market players bank on for the forecast period, 2019 – 2028?
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