openPR Logo
Press release

Luggage Market Will Amass US$ 43.4 billion in 2020

The large unorganized luggage markets in developing countries pose one of the greatest challenges for the organized luggage market. Countries such as China and India have large number of unorganized players. These regional players usually launch products with designs almost identical to those of the brands of global organized players. Unorganized players offer luggage at low costs as they save on costs of high-quality raw material, branding, advertisement, and R&D. The low- and medium-income populations in developing countries are the largest consumers of such relatively inferior products. The organized luggage market loses its prospective customers due to the presence of these players. In the absence of a strong anti-counterfeiting framework in developing countries, these unorganized players are flourishing and restraining the growth of the organized luggage market.

According to a new market report published by Persistence Market Research “Global Market Study on Luggage: Travel Bags to Witness Highest Growth by 2020”, the global luggage market is expected to grow at a CAGR of 5.8% during 2014 to 2020 and to reach an estimated value of USD 43.4 billion in 2020.

Increasing urbanization and changing lifestyles are the key drivers for the global luggage market. Technological advancements are further creating opportunities for luggage sales among high net-worth individuals, for whom safety is a major concern. Increasing travel and tours, rising business activities, and growing number of educational courses are further propelling the demand for luggage. Luggage is sold through various types of distribution channels such as specialist retailers, factory outlets, supermarkets, hypermarkets, and internet sales. Owing to the boom in online commerce, luggage sales through the Internet have been growing at a significant pace.

Increasing urbanization is escalating demand for lifestyle products. To some extent, luggage is also considered as a lifestyle product, especially in developing countries. Earlier, people in developing countries used one luggage for all purposes such as travel, tour, and business. However, owing to growing urbanization and rising disposable income, their lifestyles have changed, which is also reflected in their usage of purpose-based luggage. Asian and African countries are expected to experience highest urban growth in the future. According to the China Development Research Foundation, urban population in China is expected to increase from 52.6% in 2012 to 70% by 2030. Urbanization is growing at a swift pace across Asia Pacific. Pacific countries such as Australia and New Zealand already have high urbanization.

Request to view table of content @ http://www.persistencemarketresearch.com/market-research/luggage-market/toc

Increasing the inclination of the global population towards travel and adventure has been beneficial for industries such as travel & tourism, and, in turn, for industries involved in the manufacture of related travel gear such as luggage. Luggage is an integral part of travel & tourism activities. The rising disposable income and changing recreation patterns of the global population is one of the key reasons for the growth of the travel & tourism industry. Europe was the largest tourism destination during 2010 – 2013, followed by Asia-Pacific. People across countries such as the U.S., Finland, and Sweden are the most frequent international and domestic travelers.

A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/3846

The major players in the global luggage market include Samsonite International S.A., Tumi Holdings, Inc., VIP Industries, VF Corporation, Briggs & Riley Travelware, Rimowa GmbH, MCM Worldwide, Louis Vuitton Malletier S.A., Goyard, and ACE Co, Ltd.

Buy Now: You can now buy a single user license of the report @ http://www.persistencemarketresearch.com/checkout/3846

The final report customized as per your specific requirement will be sent to your e-mail id within 7-20 days, depending on the scope of the report.

For more information, please e-mail us at sales@persistencemarketresearch.com

About Us

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Contact Us

Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353

Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Luggage Market Will Amass US$ 43.4 billion in 2020 here

News-ID: 476291 • Views:

More Releases from Persistence Market Research

Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Persistence Market Research
Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Pers …
➤ Overview of the Market The global plastic liner market has gained steady traction across multiple industries due to its cost-effectiveness, versatility, and protective characteristics. Plastic liners are widely used in agriculture, mining, construction, waste management, and packaging industries, where they serve as an essential barrier to prevent leakage, contamination, and material loss. These liners are manufactured using materials such as polyethylene (PE), polypropylene (PP), and PVC, offering superior resistance to
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by Sustainability and Supply Chain Efficiency
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by S …
➤ Overview of the Market The global returnable plastic crate market is gaining momentum as industries seek cost-effective and sustainable packaging solutions. These crates are widely used for transporting and storing perishable goods, beverages, pharmaceuticals, and industrial products due to their durability, stackability, and reusability. The shift from single-use packaging to eco-friendly alternatives has accelerated the adoption of returnable plastic crates across sectors. The market, valued at US$ 1,820.0 million in
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Growth - Persistence Market Research
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Gr …
➤Overview of the Market The US thermal power market plays a crucial role in the nation's energy mix, serving as a stable and reliable source of electricity despite the rise of renewables. Thermal power plants in the US rely primarily on coal, natural gas, and oil to generate electricity, with natural gas emerging as the dominant fuel source due to its affordability, efficiency, and lower carbon footprint compared to coal. According
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Healthcare Demand
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Health …
➤Overview of the Market The Europe medical plastic market is undergoing robust growth, fueled by increasing demand for lightweight, durable, and cost-effective materials in the healthcare sector. Medical plastics are widely used in devices, surgical instruments, diagnostic tools, implants, and packaging due to their high biocompatibility, versatility, and resistance to sterilization methods. With healthcare systems across Europe investing heavily in modernization and patient safety, the adoption of medical-grade plastics has gained

All 5 Releases


More Releases for Increasing

Agriculture Micronutrients Market Increasing Demand for Fertilizers and Increasi …
As demonstrated by Precision Business Insights (PBI), the latest report, the global agriculture micronutrient market was valued at USD 5,799.10 Million in 2023 and grew at a CAGR of 9.9% over the forecasted period. The key drivers for the growth of the global agricultural micronutrient market are increasing demand for fertilizers, increasing R&D activities and technology advancement, decreasing soil health, introduction to 'green' micronutrient fertilizers, and the effect of climate
Increasing
The Global Peanut Butter Market is expected to be worth USD 5.51 million in 2024 to achieve USD 6.54 in 2029, to grow at a CAGR of 3.5% from 2024 to 2029. Global Peanut Butter Market Report Scope: • Market Size (2024): USD 6.47 million • Market Size (2029): USD 8.93 million • CAGR (2024 to 2029): 6.65% • Base Year: 2023 • Forecast Period: 2024 to 2029 • Segments Analysed: Product Type, Distribution
Increasing Focus On Using Lightweight Materials Is Increasing Demand For Two Com …
Two Component Adhesives Market Overview Two component adhesives are binding substances known for adhesions that are led by chemical reactions. These adhesives are sometimes recognized as reactive adhesives or structural adhesives. To Get In-depth Information View Full Report – https://www.factmr.com/report/5376/two-component-adhesives-market Two component adhesives are known for their fast curing, easy process due to their creamy consistency, flawless shine after mechanical polishing, high chemical and wear resistance, and high bonding power even at high
Torso Model : increasing use of torso model in the medical industry, increasing …
Torso Model Market Overview The torso or trunk is an anatomical name for the central part, or core, extending the neck and limbs. The torso includes the trunk's thoracic segment, the abdominal segment of the trunk, and the perineum. Human torso models are both complicated and rich in detail as the torso contains many vital organs. Doctors and medical instructors employ torso manikins to illustrate the complex structure and functions of
Thyristor Market - The Increasing Demand From Increasing Population 
Published: Oct, 2018 The global thyristor market was valued at US$ 4,035.0 Mn in 2017 and is projected to register compound annual growth rate (CAGR) of over 7.0% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Thyristor Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” The report suggests that the rising population and urbanization is likely to spur the
Increasing Rural Emigration to Pave the Way for Increasing Use of Smart City Tec …
The competitive landscape of the global smart cities market features a number of players operating in various areas of smart city development. Of these, Siemens AG, IBM Corporation, and ABB Ltd. have wide product catalogs spanning several areas of smart city technology. The market is likely to remain extremely competitive in the coming years due to the entry of several new players, who can be accommodated due to the abundant