Luggage market The Next 5 Years To Witness An Upswing | Tapestry Inc., Rimowa GmbH, Louis Vuitton Malletier, S.A.

Luggage mainly includes travel bags, business cases, and other casual bags. Luggage is a very important consumer good across the globe with numerous organized (global) and unorganized (local) manufacturers manufacturing different types of luggage for various travel and business needs.

In emerging economies of Asia Pacific region, the unorganized luggage market players are posing several challenges for major players in the organized sector. The manufacturing cost of luggage is lower, owing to easy availability of raw materials such as plastics, leather, and others. Furthermore, local luggage manufacturers from the unorganized sector usually offer their products at a lower price, as they save on several additional costs, such as research and development, advertising, branding, and costs for procuring high quality raw materials.

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Detailed Segmentation:

Global Luggage Market, By Product Type:
Travel Bags
Trolley & Duffle Bags
Lifestyle Bags
Backpack
Garment Bags
Business Cases
Briefcases
Attache Cases
Business Backpacks
Others (Casual Bags, etc.)

Global Luggage Market, By Distribution Channel:
Wholesale & Specialty Stores
Hypermarkets
Supermarkets
Online Stores
Others (Factory Outlets, etc.)

Rapid growth of the travel and tourism industry across the globe is expected to drive growth of luggage market over the forecast period. Moreover, demand for premium range luggage with advanced technologies is expected to increase due to growing luxury travel market and increasing disposable income across the globe. For instance, as per Coherent Market Insights’ analysis, in 2017, the global luxury travel market was valued at US$ 201.07 billion, which increased and reached US$ 353.16 billion by 2026 registering a CAGR of 6.7% during the forecast period.

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Increasing innovations in the market is expected to boost demand for luggage over the forecast period. These innovations are expected to create growth opportunity for manufacturers by attracting larger customer base. For instance, in August 2019, Samsonite collaborated with Panasonic for creating EVOA Tech, a new generation of smart luggage.

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