According to the latest market research study by Technavio, the global luggage market is expected to grow at a CAGR of close to 6% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global luggage market in terms of revenue and emerging market trends. The report also includes an up-to-date vendor analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the product
Source: Technavio
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Global travel luggage market: The demand for travel bags is expected to increase during the forecast period. One of the major reasons for this is the rising popularity of outdoor sports, tourism, and adventure tours, especially in emerging countries.
“The relative growth in the global travel and tourism industry is anticipated to have a positive influence on the growth of the global luggage market. With the growth in the tourism industry during the forecast period, the number of tourists and travelers, and the demand for travel bags are also expected to rise,” says Arushi Thakur, a lead analyst at Technavio for research on retail goods and services.
Global casual luggage market: The global casual luggage market is projected to grow during the forecast period due to the growing customer base with higher disposable income and the interest in backpacking. The launch of products that are easy to carry, lightweight, and made from high-density polyester and ultra-strong fiberglass frames will increase the consumer’s interest. Several market vendors are launching new designs and colors in this market to appeal to the fashion-conscious consumer.
Global business luggage market: Business luggage is designed based on specific requirements like the need to carry laptops, documents, and other items. Increasing globalization has led to an upsurge in the number of people traveling on business. The vendors in the market are trying to change this by marketing their products through exclusive advertisements and promotions targeted at the business and corporate classes.
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The top vendors operating in the global luggage market are:
- Louis Vuitton
- Rimowa
- Samsonite
- TUMI
- VF Corporation
The other prominent vendors in the market include AMG Group, Antler, CamelBak Products, Dakine, DELSEY, Deuter Sport, Etienne Aigner, Gelert, Gregory Mountain Products, High Sierra, Nike, Osprey Packs, Sierra Designs, Wildcraft, Valigeria Roncato, and VIP Industries.
A more detailed analysis is available in the Technavio report titled, ‘Global Luggage Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports
- Global Travel Duffel Bags Market 2016-2020
- Global Travel Irons Market 2016-2020
- Global Leather Goods Market 2016-2020
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