TechNavio recognizes the following companies as the key players in the Global Luggage Market: Samsonite International S.A., VF Corp., Tumi Inc., and ACE Co. Ltd.
Commenting on the report, an analyst from TechNavio’s team said: ”In some of the key target markets such as Japan, the US, South Korea, China, and India, there is an increase in the per capita expenditure on luggage. The higher disposable income of consumers is driving them to buy luggage products. Moreover, the growing popularity of travel and tourism is prompting consumers to purchase luggage and travel accessories. This increase in consumer spending on luggage is fueling the growth of the market. Thus, the increasing per capita expenditure on luggage is an important trend in the market.”
According to the report, one of the main drivers in this market is the increasing disposable income of consumers. With the rapid pace of economic growth in many countries and improving macroeconomic conditions, there has been an increase in the disposable income of consumers. This increasing disposable income is expected to trigger consumer spending on luggage, thereby driving the growth of the market.
Further, the report states that one of the main challenges in this market is the increasing competition from local brands and counterfeit products. This competition has led to market fragmentation, which has in turn resulted in several issues such as lack of price standardization, an uneven competitive scenario, and market share erosion.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Delsey S.A., VIP Industries Ltd., Rimowa Luggage, Targus Group International Inc., Moet Hennessy Louis Vuitton, Nike Inc., Etienne Aigner AG, Jansport Inc., Valigeria Roncato, Antler Ltd., and Boyt Harness Co. LLC.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-luggage-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/others
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TechNavio Announces the Publication of its Research Report – Global Luggage Market 2012-2016
