Global luggage market was worth USD 45 billion in 2020 and is estimated to record colossal growth during 2021-2026.

Industry Snapshot:

• Surging disposable income of consumers has prompted international and domestic travels which is a major growth determinant for market.
• Advancements in electronics and soaring use of electronic items are likely to propel industry development during 2021-2026.
• The rising popularity of luggage in the premium price segment is further generating revenues for the market.

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Segmental Overview:

Product Type	Business Bags
	Casual Bags
	Travel Bags
Price Segment	Luxury
	Premium
	Value and Mid-level
Distribution Channel	Departmental Stores
	Specialty Stores
	Internet Sales
	Others
Regions	North America
	Europe
	Asia Pacific

 

Window to the future:

• The travel bags product segment is predicted to rise at a notable CAGR during the analysis period, owing to imperative role played by the product in the traveling process.
• The value and mid-level price vertical is anticipated to register significant revenue share during the forecast period, due to the affordability of this range to customers of all income levels.
• Asia Pacific luggage industry is poised to witness remarkable expansion during the assessment timeframe, attributed to the widespread presence of original equipment manufacturers (OEMs) and original design manufacturers (ODMs) across the region.

Explainer:

During the COVID-19 pandemic, the brick-and-mortar revenues were severely hampered due to restrictions placed to contain the spread of the virus. However, with the rise in digitalization, people are concentrating more on e-commerce, making it a promising avenue for the future of the industry. Consequently, enterprises are attempting to sell their products online via multiple e-commerce channels like Amazon, Flipkart, eBay, etc., thus giving an optimistic outlook for the business sphere.

The established names in global luggage industry are ACE Luggage Co. Ltd., Samsonite International S.A., Maison Goyard, VF Corporation, Fox Luggage Inc., VIP Industries, Tumi Holdings Inc., Rimowa, Delsey, and Briggs & Riley Travelware LLC among others.

Concluding lines:

Market research involves accumulating data from diverse sources in order to recognize the dynamics and understand consumer buying decisions. The report titled 'Global Luggage Market (2021 Edition) - Analysis by Product Type (Travel Bags, Casual Bags, Business Bags), Price Segment, Distribution Channel, By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)', which is available with MarketStudyReport, presents the factors paving way for expansion along with lucrative business prospects available during the period of the study for interested parties to participate in and reach their full potential. The report is developed after extensive research using reliable information and in-depth analysis methods.