Luggage market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation – Technavio

NEW YORK, Jan. 17, 2023 /PRNewswire/ — According to Technavio, the global luggage market size is estimated to grow by USD 12,521.44 million from 2022 to 2027. The market is estimated to grow at a CAGR of 7.5% during the forecast period. APAC will account for 39% of the market’s growth during the forecast period. 

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Global luggage market – Five forces

The global luggage market is fragmented, and the five forces analysis covers– 

• Bargaining Power of Buyers 
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• Threat of Substitutes
• Interpretation of porter’s five models helps to strategize the business, for entire details – buy the report!

Global luggage market – Customer landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global luggage market – Segmentation assessment

Segment overview

Technavio has segmented the market based on distribution channel (specialty stores, department stores hypermarkets and supermarkets, online retail, and warehouse clubs), product (travel luggage, casual luggage, business luggage, and sports luggage), and geography (APAC, North America, Europe, South America, and Middle East and Africa). 

• The specialty stores segment will grow at the highest rate during the forecast period. The opening of new specialty luggage stores drives the growth of the market during the forecast period. Specialty stores carry popular luggage brands and provide a wide range of product portfolios. They sell similar types of products in all their outlets. Consumers prefer buying luggage bags from these stores as they provide the required support and information to consumers and offer them advice from expert customer service personnel.

Geography overview

By geography, the global luggage market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global luggage market.

• APAC will account for 39% of the market’s growth during the forecast period. The three biggest market contributors in APAC are China, Japan, and India. Due to the country’s expanding population and rising income levels, the Chinese market will exhibit significant growth potential during the forecast period. Similarly, Japan’s high per capita expenditure on luggage products drives the market. Furthermore, increasing employment rates and the number of working women have raised income levels and increased purchasing power. Hence, an important trend in the market that is projected to drive demand for luggage as a lifestyle item over the forecast period is the adoption of high fashion.

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Global luggage market – Market dynamics

Key factor driving market growth

• The growing global travel and tourism industry is notably driving the market growth.
• The travel and tourist industry is currently one of the most diverse and fastest-growing industries, which encourages entrepreneurship, employment, and infrastructural development as well as the social development of various communities. 
• Over the past ten years, the travel and tourist industries’ expansion has led to a change in the need for luggage. Therefore, the leading industry competitors use advanced technology and research to design stylish and versatile items in line with consumer preferences. They also produce innovative models that ease shoulder stress, back strain, and neck ache when traveling. Therefore, the global market is expected to grow during the forecast period due to the rapidly growing travel and tourism industry.

Leading trends influencing the market 

• The introduction of convertible and foldable luggage is an emerging trend in the market. 
• With the development of time and technology, the popularity of multi-purpose luggage has increased. For instance, while packing for a vacation, extra luggage is usually needed for the return trip and may not fit in the already packed luggage. Products like folding or convertible luggage may be helpful in such situations.
• It is simple to move these bags from one location to another. These goods don’t take up a lot of room when packaged in standard packaging. They can be transformed, as needed, into multiple-use bags, including duffel bags, trolley bags, tote bags, collapsible spinners, and others. Such factors will boost the global market growth during the forecast period.

Major challenges hindering the market growth

• The high product replacement cycle is a major challenge impeding the market.  
• Revenue collection in the market is cyclical as the average bag lasts at least three years and may depend more on maintenance.
• The replacement time of high-quality luggage and accessories is further extended by baggage manufacturers that provide significant warranties and guarantees.
• The replacement time of high-quality luggage and accessories is further extended by baggage manufacturers that provide significant warranties and guarantees. As a result, the lengthy exchange cycle reduces their sales, which in turn inhibits the market’s expansion. These elements will limit market expansion during the forecast period.

Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this luggage market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the luggage market between 2023 and 2027
• Precise estimation of the size of the luggage market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the luggage market across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of luggage market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global luggage market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on Global luggage market 2017 – 2021 ($ million)

• 4.2 Distribution Channel Segment Analysis 2017 – 2021
• Exhibit 19: Historic Market Size – Distribution Channel Segment 2017 – 2021 ($ million)

• 4.3 Product Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Product Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments 
• Exhibit 30: Chart on Distribution Channel – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel – Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Specialty stores – Market size and forecast 2022-2027
• Exhibit 34: Chart on Specialty stores – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Specialty stores – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Specialty stores – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Specialty stores – Year-over-year growth 2022-2027 (%)

• 6.4 Department stores hypermarkets and supermarkets – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Department stores hypermarkets and supermarkets – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Department stores hypermarkets and supermarkets – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Department stores hypermarkets and supermarkets – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Department stores hypermarkets and supermarkets – Year-over-year growth 2022-2027 (%)

• 6.5 Online retail – Market size and forecast 2022-2027
• Exhibit 42: Chart on Online retail – Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Online retail – Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Online retail – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Online retail – Year-over-year growth 2022-2027 (%)

• 6.6 Warehouse clubs – Market size and forecast 2022-2027
• Exhibit 46: Chart on Warehouse clubs – Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Warehouse clubs – Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Warehouse clubs – Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Warehouse clubs – Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Distribution Channel
• Exhibit 50: Market opportunity by Distribution Channel ($ million)

7 Market Segmentation by Product

• 7.1 Market segments 
• Exhibit 51: Chart on Product – Market share 2022-2027 (%)
• Exhibit 52: Data Table on Product – Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 53: Chart on Comparison by Product
• Exhibit 54: Data Table on Comparison by Product

• 7.3 Travel luggage – Market size and forecast 2022-2027
• Exhibit 55: Chart on Travel luggage – Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Travel luggage – Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Travel luggage – Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Travel luggage – Year-over-year growth 2022-2027 (%)

• 7.4 Casual luggage – Market size and forecast 2022-2027
• Exhibit 59: Chart on Casual luggage – Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Casual luggage – Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Casual luggage – Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Casual luggage – Year-over-year growth 2022-2027 (%)

• 7.5 Business luggage – Market size and forecast 2022-2027
• Exhibit 63: Chart on Business luggage – Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Business luggage – Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Business luggage – Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Business luggage – Year-over-year growth 2022-2027 (%)

• 7.6 Sports luggage – Market size and forecast 2022-2027
• Exhibit 67: Chart on Sports luggage – Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Sports luggage – Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Sports luggage – Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Sports luggage – Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Product 
• Exhibit 71: Market opportunity by Product ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 73: Chart on Market share by geography 2022-2027 (%)
• Exhibit 74: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 75: Chart on Geographic comparison
• Exhibit 76: Data Table on Geographic comparison

• 9.3 APAC – Market size and forecast 2022-2027
• Exhibit 77: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.4 North America – Market size and forecast 2022-2027
• Exhibit 81: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.5 Europe – Market size and forecast 2022-2027
• Exhibit 85: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027
• Exhibit 89: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 93: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027
• Exhibit 97: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 China – Market size and forecast 2022-2027
• Exhibit 101: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.10 UK – Market size and forecast 2022-2027
• Exhibit 105: Chart on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.11 Germany – Market size and forecast 2022-2027
• Exhibit 109: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.12 Canada – Market size and forecast 2022-2027
• Exhibit 113: Chart on Canada – Market size and forecast 2022-2027 ($ million)
• Exhibit 114: Data Table on Canada – Market size and forecast 2022-2027 ($ million)
• Exhibit 115: Chart on Canada – Year-over-year growth 2022-2027 (%)
• Exhibit 116: Data Table on Canada – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 117: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 118: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 119: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 120: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 121: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 122: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 123: Matrix on vendor position and classification

• 12.3 Adidas AG 
• Exhibit 124: Adidas AG – Overview
• Exhibit 125: Adidas AG – Product / Service
• Exhibit 126: Adidas AG – Key offerings

• 12.4 Brics Industria Valigeria Fine Spa 
• Exhibit 127: Brics Industria Valigeria Fine Spa – Overview
• Exhibit 128: Brics Industria Valigeria Fine Spa – Product / Service
• Exhibit 129: Brics Industria Valigeria Fine Spa – Key offerings

• 12.5 DELSEY 
• Exhibit 130: DELSEY – Overview
• Exhibit 131: DELSEY – Product / Service
• Exhibit 132: DELSEY – Key offerings

• 12.6 Groupe Artemis 
• Exhibit 133: Groupe Artemis – Overview
• Exhibit 134: Groupe Artemis – Product / Service
• Exhibit 135: Groupe Artemis – Key offerings

• 12.7 LVMH Moet Hennessy Louis Vuitton SE 
• Exhibit 136: LVMH Moet Hennessy Louis Vuitton SE – Overview
• Exhibit 137: LVMH Moet Hennessy Louis Vuitton SE – Business segments
• Exhibit 138: LVMH Moet Hennessy Louis Vuitton SE – Key news
• Exhibit 139: LVMH Moet Hennessy Louis Vuitton SE – Key offerings
• Exhibit 140: LVMH Moet Hennessy Louis Vuitton SE – Segment focus

• 12.8 MCM Products USA Inc. 
• Exhibit 141: MCM Products USA Inc. – Overview
• Exhibit 142: MCM Products USA Inc. – Product / Service
• Exhibit 143: MCM Products USA Inc. – Key offerings

• 12.9 Nike Inc. 
• Exhibit 144: Nike Inc. – Overview
• Exhibit 145: Nike Inc. – Business segments
• Exhibit 146: Nike Inc. – Key news
• Exhibit 147: Nike Inc. – Key offerings
• Exhibit 148: Nike Inc. – Segment focus

• 12.10 Safari Industries (India) Ltd. 
• Exhibit 149: Safari Industries (India) Ltd. – Overview
• Exhibit 150: Safari Industries (India) Ltd. – Product / Service
• Exhibit 151: Safari Industries (India) Ltd. – Key offerings

• 12.11 Samsonite International S.A. 
• Exhibit 152: Samsonite International S.A. – Overview
• Exhibit 153: Samsonite International S.A. – Product / Service
• Exhibit 154: Samsonite International S.A. – Key offerings

• 12.12 Tapestry Inc. 
• Exhibit 155: Tapestry Inc. – Overview
• Exhibit 156: Tapestry Inc. – Business segments
• Exhibit 157: Tapestry Inc. – Key offerings
• Exhibit 158: Tapestry Inc. – Segment focus

• 12.13 Under Armour Inc. 
• Exhibit 159: Under Armour Inc. – Overview
• Exhibit 160: Under Armour Inc. – Business segments
• Exhibit 161: Under Armour Inc. – Key offerings
• Exhibit 162: Under Armour Inc. – Segment focus

• 12.14 United States Luggage Co. LLC 
• Exhibit 163: United States Luggage Co. LLC – Overview
• Exhibit 164: United States Luggage Co. LLC – Product / Service
• Exhibit 165: United States Luggage Co. LLC – Key offerings

• 12.15 Valigeria Roncato Spa 
• Exhibit 166: Valigeria Roncato Spa – Overview
• Exhibit 167: Valigeria Roncato Spa – Product / Service
• Exhibit 168: Valigeria Roncato Spa – Key offerings

• 12.16 VF Corp. 
• Exhibit 169: VF Corp. – Overview
• Exhibit 170: VF Corp. – Business segments
• Exhibit 171: VF Corp. – Key news
• Exhibit 172: VF Corp. – Key offerings
• Exhibit 173: VF Corp. – Segment focus

• 12.17 VIP Industries Ltd. 
• Exhibit 174: VIP Industries Ltd. – Overview
• Exhibit 175: VIP Industries Ltd. – Product / Service
• Exhibit 176: VIP Industries Ltd. – Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 177: Inclusions checklist
• Exhibit 178: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 179: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 180: Research methodology
• Exhibit 181: Validation techniques employed for market sizing
• Exhibit 182: Information sources

• 13.5 List of abbreviations 
• Exhibit 183: List of abbreviations

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