Preference for multipurpose luggage will be one of the key trends in the luggage market during 2021-2025
NEW YORK, June 7, 2022 /PRNewswire/ — Luggage is one of the essential products of the travel and tourism industry. The global luggage market is expected to grow at a faster rate compared with the global travel and tourism market. For this report, we have considered travel luggage, casual luggage, business luggage, and sports luggage.
In this report, Technavio defines 2020 as the base year and 2021-2025 as the forecast period. The size of the global luggage market is anticipated to grow by USD 11.03 billion from 2020 to 2025. Moreover, the growth momentum of the market will accelerate at a CAGR of 7.68% during the forecast period. Our report describes in detail the various factors that are responsible for the market growth and the growth momentum.
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What are the Some of the Topics Covered in this Report?
- Overview of the Market
- Market Sizing
- Five Forces Analysis
- Market Segmentation
- Factors Impacting Market Growth
- Vendor Analysis
What are the Various Segments Covered in this Report?
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Segmentation |
Segments |
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Product |
Travel luggage, casual luggage, business luggage, and sports luggage |
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Distribution channel |
Offline and online |
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Geography |
APAC, North America, Europe, Middle East and Africa, and South America |
What are the Factors Driving the Growth of the Luggage Market?
The growth of the luggage market will be driven by the growing global travel and tourism industry. This industry is one of the fastest-growing and most diversified sectors. A shift in luggage preferences and an increase in demand have been experienced in the past decade with the growth in the travel and tourism industry. The major competitors in the luggage industry are incorporating advanced technology and scientific research to design stylish and multifunctional luggage based on consumer preferences.
What are the Trends Supporting the Growth of the Luggage Market?
The preference for multipurpose luggage has increased, with the evolution of technology. Foldable or convertible luggage can be packed with normal luggage without consuming a lot of space. They can be converted into multipurpose luggage, such as duffle bags, trolley bags, tote bags, collapsible spinners, and others.
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Which are the Major Vendors Operating in the Luggage Market?
According to Technavio, the major vendors operating in the luggage market include adidas AG, DELSEY, Groupe Artemis, LVMH Moet Hennessy Louis Vuitton SE, MCM Products USA Inc., Nike Inc., Tapestry Inc., VF Corp., and VIP Industries Ltd. among others.
Is the Market Fragmented or Concentrated?
The luggage market is fragmented, and the vendors are deploying growth strategies such as expanding their presence in traditionally low penetrated markets to compete in the market.
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Luggage Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.68% |
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Market growth 2021-2025 |
USD 11.03 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.35 |
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Regional analysis |
APAC, North America, Europe, South America, and MEA |
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Performing market contribution |
APAC at 49% |
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Key consumer countries |
US, China, UK, Germany, and Canada |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
adidas AG, Brics Industria Valigeria Fine Spa, DELSEY, Fox Luggage Inc., Groupe Artemis, LVMH Moet Hennessy Louis Vuitton SE, MCM Products USA Inc., Nike Inc., Safari Industries (India) Ltd., Samsonite IP Holdings S.à r.l., Strandbags Group Pty Ltd., Tapestry Inc., Under Armour Inc., United States Luggage Co. LLC, Valigeria Roncato Spa, VF Corp., Victorinox AG, VIP Industries Ltd., Wildcraft India Pvt. Ltd., and Yonex Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Travel luggage – Market size and forecast 2020-2025
- Casual luggage – Market size and forecast 2020-2025
- Business luggage – Market size and forecast 2020-2025
- Sports luggage – Market size and forecast 2020-2025
- Market opportunity by Product
Market Segmentation by Distribution channel
- Market segments
- Comparison by Distribution channel
- Offline – Market size and forecast 2020-2025
- Online – Market size and forecast 2020-2025
- Market opportunity by Distribution channel
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2020-2025
- North America – Market size and forecast 2020-2025
- Europe – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- adidas AG
- DELSEY
- Groupe Artemis
- LVMH Moet Hennessy Louis Vuitton SE
- MCM Products USA Inc.
- Nike Inc.
- Tapestry Inc.
- VF Corp.
- VIP Industries Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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