November 22, 2019
According to the research report titled ‘Global Luggage Market Analysis: By Product Type (Travel, Casual, Business), Price Segment, Distribution channel, By Region, By Country (2018 Edition): World Market Review and Forecast to 2023-By Region (North America, Europe, APAC, ROW), By Country (US, Canada, UK, Germany, France, China, India, Japan)’ available with Market Study Report LLC, the global luggage market is expected to grow with a CAGR of 6.72% during the period of 2018-2023.
Increasing number of industries and businesses across the world, rise in per capita income, and evolving lifestyles are inducing the consumer preference for luxury and comfort, which in turn is driving the growth of luggage market. The industry is expected to further expand owing to growing number of entrepreneurs, introduction of innovative products, and large potential in markets of developing nations.
Based on product type, luggage market is segmented into travel, business and casual. Whereas, in terms of price segment, the market is fragmented into luxury, premium, and value & mid-level. As per distribution channel, the industry is divided into departmental stores, specialty stores, internet sales, hyper markets & supermarkets, direct sellers, club retailers, and small independent retailers.
Considering the geographical landscape, the global luggage market is divided into regions namely, Europe, North America, Asia-Pacific, and rest of the world with primary focus on countries which include Canada, US, UK, France, Germany, India, China, and Japan. The report cites that although North America luggage market held the largest share in 2018, APAC region is expected to show significant growth over the forecast period, due to emerging markets of Japan and Indian.
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The key players in the global luggage market are RIMOVA, Samsonite International S.A, VIP Industries Ltd, Briggs and Riley TravelWare, DELSEY, VF Corporation, and Fox Luggage, Inc.
Notably, the research report discusses and examines the potential growth opportunities in luggage market. It also provides crucial statistics on revenue shares for each segment. The study further aims to deliver top-notch business information and help investors to evaluate their investments thoroughly.
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