November 28, 2019
According to the research report titled ‘Global Travel Luggage Market: Analysis By Price Point (Value & Mid-Level, Premium, Luxury), By Distribution Channel (Specialty Stores, Departmental Stores, Internet Sales, Others) - By Region, By Country (2018 Edition): Forecast to 2023’ available at MarketStudyReport.com, the global travel luggage market is expected to grow with CAGR of 7.06% from the year 2018 to 2023.
Growing industrialization, in consort with increasing disposable income of consumers are driving the travel luggage market for the forecast period. Additionally, growing number of entrepreneurs, rising trend for travelling among millennials, and large consumer base in developing nations will fuel the demand for travel luggage across the globe.
Notably, the research report explores the potential growth opportunities in travel luggage market. The study further intends to deliver top-notch business information and help investors to thoroughly evaluate their investments.
Based on price point spectrum, the travel luggage market is categorized into luxury, premium, and value & mid-level segments. The value & mid-level travel luggage segment is projected to display dominance in the upcoming years, due to rising urbanization, and introduction of inexpensive products with improved reliability and durability. However, the premium travel luggage segment is expected to grow substantially over the forecast period, on account of rising per capita of consumers, evolving lifestyles, and development of innovative products.
As per distribution channel, travel luggage market is classified into departmental stores, specialty stores, internet sales, and others.
Considering the geographical landscape, the global travel luggage market is divided into regions namely, Europe, North America, APAC, and rest of the world, with primary focus on countries such as Canada, US, UK, France, Germany, Japan, India. and China.
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The report cites that Asia-Pacific travel luggage market held the largest regional share in 2018, owing to escalating investments in travel and tourism industry, rising per capital income of the middle-class population, and rapid urban development across the region.
The key players in the global travel luggage market are VIP Industries Ltd., Samsonite International S.A, RIMOVA, Briggs & Riley Travelware, VF Corp., Fox Luggage Inc., and DELSEY.
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