New Study: Leisure Luggage Bags Market 2022 Size, Growth Analysis Report, Forecast to 2028

The global leisure luggage bags market is anticipated to grow at a CAGR of 3.6 % during the forecast period (2022-2028).

The growth of the travel and tourist business is directly related to the increase in demand for leisure luggage bags. The worldwide travel and tourism business has seen substantial growth in recent years. The tourism business is currently one of the world's fastest-growing and most diverse industries. According to the United Nations World Tourism Organization (UNWTO), international tourism accounted for 1.3 billion visitors worldwide in 2019.

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Travel has increased significantly in this region as a result of increased urbanization and leisure activities. Branded and trendy travel items, such as luggage, are becoming increasingly popular, which will positively support the market growth. Luggage has evolved in recent years from a simple means of transporting clothes to a more comfortable, convenient, and multi-purpose travel companion.
In Asia-Pacific region, the countries such as India, the luggage business has grown extremely competitive, with established companies such as VIP vying against newcomers such as Da Milano.

Due to an increase in travel and tourism activities as well as an increase in the number of business travelers, the market is predicted to grow, which will further contribute to the market growth during the forecast period. According to India's Ministry of Tourism, around 26.92 million Indians visited abroad in 2019, up 11.69 % from 2017.

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During the projection period, technological advancements such as the development of smart luggage with GPS system trackers are expected to boost the overall market's growth during the forecast period. Furthermore, in order to stay up with the ever-changing trends, people are increasingly willing to spend on premium and luxury travel bags. Various product improvements, such as the introduction of visually appealing and inventive designs, as well as environmentally friendly alternatives, are also contributing to the market's favorable outlook. Luggage and travel bags manufactured with natural and organic fabric dyes, organic canvas, reclaimed leather, and other environmentally friendly materials are becoming more popular. For instance, In 2021, Horizn Studios has unveiled a new line of high-end baggage. For ecologically conscious travelers, Circle One is a new baggage line that is 100 % plant-based and biodegradable. In addition, the company has stopped using single-use plastics in its packaging and is instead focused on recyclable materials such as cardboard. Such launches by the companies aids in market growth.

A full report of Global Leisure Luggage Bags Market is available at: https://orionmarketreports.com/leisure-luggage-bags-market/111936/

Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Application

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape- Samsonite IP Holdings S.a.r.l., Tumi, Inc., VIP Industries Ltd., VF Corp., Briggs, and Riley Travelware, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Leisure Luggage Bags Market Report by Segment

By Type
• Lеіѕurе Luggage
• Васkрасk
• Others

By Application
• Ѕресіаlіѕt Rеtаіlеrѕ
• Fасtоrу Оutlеtѕ
• Іndереndеnt Rеtаіlеrѕ
• Оnlіnе Rеtаіlеrѕ

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Orion Market Reports (OMR) endeavors to provide an exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and the most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

This release was published on openPR.