- The key vendors in the travel and business bags market in China 2015-2019 are Ace, Arch, Baigou Bodian, Connoisseurs trade (Suzhou), Delsey, Dragon King Case Co Ltd., Dudley, Guangdong Leaves King Bag Industry, HOCK International Group Ltd., Rimowa, Samsonite, Shanghai Champion Trading, VF Corp., and Yullex Group (China).
London, 13 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the travel and business bags market in China 2015-2019. The advent of smart luggage is a major key observed in this market. Smart luggage incorporates the usage of GPS tracking, locking, and unlocking via mobile apps. It makes travel hassle-free and also increases luggage security. The market for travel and business bags in China is expected to grow at a CAGR of 11.50% in terms of revenue and 9.07% in terms of volume during the forecast period of 2014-2019.
Source: Technavio Research
Factors like rising disposable incomes of the populace in China, increasing sports and events, and the rise in the number of school and college going students augment the prospects of growth in this market. The demand for backpacks will be majorly driven by college or school going students who fall between the age group of 0 to 30 years. Recently, manufacturers have been launching customized school bags and backpacks according to their target population, which in turn helps in increasing the sale of bags in China.
“An upcoming trend that has been noticed among travelers is conscious travel, such as for the business travelers that require a highly functional luggage bags. A leisure traveler might require a simple but durable and strong luggage bag with added capacity. In addition, usage of ultra-light luggage rather than hard-case heavy luggage will make travel easier and more fashionable,” says Faisal Ghaus, Vice President of Technavio Research.
“TSA luggage locks will be an additional benefit for people travelling to the US and Europe because US authorities can easily inspect luggage without damaging the lock or suitcase. US authorities have a special key that opens all TSA luggage, therefore making the checking procedure fast and hassle-free.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
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