Vietnam Luggage & Travel Accessories Market
Description
Vietnam Luggage & Travel Accessories Market Overview
The Vietnam Luggage & Travel Accessories Market is valued at USD 490 million, based on a five-year historical analysis. This growth is primarily driven by the increasing number of domestic and international travelers, a rising middle class seeking quality travel products, and Vietnam’s emergence as a global manufacturing hub for luggage exports. The market has seen a surge in demand for innovative and functional luggage solutions, reflecting changing consumer preferences towards convenience, style, and durability.
[Source: ]
Key cities such as
Ho Chi Minh City
and
Hanoi
dominate the market due to their status as major economic and cultural hubs. These cities attract a significant volume of tourists and business travelers, leading to higher demand for luggage and travel accessories. Additionally, the growing infrastructure and connectivity in these urban areas further enhance market growth.
[Source: ]
In 2023, the Vietnamese government implemented regulations to promote sustainable practices in the luggage and travel accessories sector. The
Decision No. 889/QD-TTg, 2023 issued by the Prime Minister
sets out the National Action Plan on Circular Economy, requiring manufacturers to reduce plastic usage, increase recycled content, and comply with eco-design standards for consumer goods, including luggage and travel accessories. This aims to align with global sustainability goals and improve the environmental impact of the industry.
[Source: ]
Vietnam Luggage & Travel Accessories Market Segmentation
By Type:
The luggage and travel accessories market can be segmented into various types, including travel luggage, business luggage, casual luggage, sports luggage, vanity cases & kids’ luggage, smart luggage, and others. Among these,
travel luggage
is the most dominant segment, driven by the increasing number of leisure and business travelers. The demand for durable and stylish travel luggage has surged, as consumers prioritize functionality and aesthetics.
Business luggage
also holds a significant share, catering to the needs of professionals who require reliable and sophisticated options for their travels. The rise of
smart luggage
, equipped with technology features, is also gaining traction, appealing to tech-savvy consumers.
[Source: ]
By End-User:
The end-user segmentation of the luggage and travel accessories market includes business travelers, leisure travelers, students, families, tourists, athletes, and others.
Business travelers
represent a significant portion of the market, as they require high-quality luggage that meets professional standards.
Leisure travelers
are also a major segment, driven by the growing trend of travel and tourism in Vietnam. Families and students contribute to the market as well, seeking affordable and functional options for their travel needs. The increasing participation of athletes in sports events has also led to a rise in demand for specialized sports luggage.
[Source: ]
Vietnam Luggage & Travel Accessories Market Competitive Landscape
The Vietnam Luggage & Travel Accessories Market is characterized by a dynamic mix of regional and international players. Leading participants such as Samsonite International S.A., Tumi Holdings, Inc., American Tourister, Delsey S.A., Rimowa GmbH, Antler Ltd., Victorinox AG, Eastpak, Osprey Packs, Inc., The North Face, Inc., Herschel Supply Co., Kipling, Travelpro International, Inc., Briggs & Riley, Luggage Pros, Miti, Mr Vui, Sakos, Trip contribute to innovation, geographic expansion, and service delivery in this space.
Samsonite International S.A.
1910
Luxembourg
Tumi Holdings, Inc.
1975
New Jersey, USA
American Tourister
1933
Rhode Island, USA
Delsey S.A.
1946
France
Rimowa GmbH
1898
Cologne, Germany
Company
Establishment Year
Headquarters
Group Size (Large, Medium, or Small as per industry convention)
Revenue Growth Rate (YoY %)
Market Penetration Rate (% of target market reached)
Customer Retention Rate (%)
Average Order Value (USD/VND)
Pricing Strategy (Budget, Mid-range, Premium, Luxury)
Vietnam Luggage & Travel Accessories Market Industry Analysis
Growth Drivers
Increasing Domestic Tourism:
Vietnam's domestic tourism is projected to reach 85 million visitors in future, up from 80 million in future, according to the Vietnam National Administration of Tourism. This surge is driven by a growing interest in local destinations, which encourages consumers to invest in luggage and travel accessories. The government’s initiatives to promote tourism, including improved infrastructure and marketing campaigns, further support this growth, creating a robust demand for travel-related products.
Rising Disposable Income:
The average disposable income in Vietnam is expected to rise to approximately $3,200 per capita in future, reflecting a 6% increase from future. This increase in disposable income allows consumers to spend more on travel and related accessories. As more Vietnamese families prioritize travel experiences, the demand for quality luggage and travel accessories is anticipated to grow, driving market expansion significantly.
Growth of E-commerce:
E-commerce sales in Vietnam are projected to reach $20.5 billion in future, up from $16 billion in future, according to the Vietnam E-commerce Association. This rapid growth in online retail provides a significant platform for luggage and travel accessories, allowing brands to reach a broader audience. The convenience of online shopping, coupled with targeted marketing strategies, is expected to enhance consumer access to a variety of travel products, boosting overall market growth.
Market Challenges
Intense Competition:
The Vietnamese luggage and travel accessories market is characterized by intense competition, with over 200 brands vying for market share. This saturation leads to price wars and reduced profit margins, making it challenging for new entrants to establish themselves. Established brands dominate the market, creating barriers for smaller companies. As a result, innovation and differentiation become crucial for survival in this highly competitive landscape.
Fluctuating Raw Material Prices:
The prices of raw materials used in luggage production, such as polyester and aluminum, have seen significant fluctuations, with increases of up to 15% in future. These price changes can severely impact production costs and profit margins for manufacturers. Companies must navigate these challenges by optimizing supply chains and exploring alternative materials to maintain competitiveness in the market.
Vietnam Luggage & Travel Accessories Market Future Outlook
The Vietnam luggage and travel accessories market is poised for significant growth, driven by increasing domestic tourism and rising disposable incomes. As consumers prioritize travel experiences, the demand for innovative and high-quality products will rise. Additionally, the expansion of e-commerce will facilitate greater access to a variety of travel accessories. Companies that adapt to these trends, focusing on sustainability and technology integration, will likely capture a larger share of the market in the coming years.
Market Opportunities
Eco-friendly Products:
The demand for eco-friendly luggage is on the rise, with consumers increasingly prioritizing sustainability. In future, the market for eco-friendly travel accessories is expected to grow by approximately 20%, driven by consumer awareness and environmental concerns. Companies that invest in sustainable materials and practices can tap into this growing segment, enhancing brand loyalty and market presence.
Customization Trends:
Customization in luggage and travel accessories is gaining traction, with consumers seeking personalized products. The market for customized travel accessories is projected to grow by approximately 15% in future. Brands that offer unique designs and personalization options can attract a broader customer base, enhancing customer satisfaction and driving sales in a competitive market.
Please Note: It will take 5-7 business days to complete the report upon order confirmation.
The Vietnam Luggage & Travel Accessories Market is valued at USD 490 million, based on a five-year historical analysis. This growth is primarily driven by the increasing number of domestic and international travelers, a rising middle class seeking quality travel products, and Vietnam’s emergence as a global manufacturing hub for luggage exports. The market has seen a surge in demand for innovative and functional luggage solutions, reflecting changing consumer preferences towards convenience, style, and durability.
[Source: ]
Key cities such as
Ho Chi Minh City
and
Hanoi
dominate the market due to their status as major economic and cultural hubs. These cities attract a significant volume of tourists and business travelers, leading to higher demand for luggage and travel accessories. Additionally, the growing infrastructure and connectivity in these urban areas further enhance market growth.
[Source: ]
In 2023, the Vietnamese government implemented regulations to promote sustainable practices in the luggage and travel accessories sector. The
Decision No. 889/QD-TTg, 2023 issued by the Prime Minister
sets out the National Action Plan on Circular Economy, requiring manufacturers to reduce plastic usage, increase recycled content, and comply with eco-design standards for consumer goods, including luggage and travel accessories. This aims to align with global sustainability goals and improve the environmental impact of the industry.
[Source: ]
Vietnam Luggage & Travel Accessories Market Segmentation
By Type:
The luggage and travel accessories market can be segmented into various types, including travel luggage, business luggage, casual luggage, sports luggage, vanity cases & kids’ luggage, smart luggage, and others. Among these,
travel luggage
is the most dominant segment, driven by the increasing number of leisure and business travelers. The demand for durable and stylish travel luggage has surged, as consumers prioritize functionality and aesthetics.
Business luggage
also holds a significant share, catering to the needs of professionals who require reliable and sophisticated options for their travels. The rise of
smart luggage
, equipped with technology features, is also gaining traction, appealing to tech-savvy consumers.
[Source: ]
By End-User:
The end-user segmentation of the luggage and travel accessories market includes business travelers, leisure travelers, students, families, tourists, athletes, and others.
Business travelers
represent a significant portion of the market, as they require high-quality luggage that meets professional standards.
Leisure travelers
are also a major segment, driven by the growing trend of travel and tourism in Vietnam. Families and students contribute to the market as well, seeking affordable and functional options for their travel needs. The increasing participation of athletes in sports events has also led to a rise in demand for specialized sports luggage.
[Source: ]
Vietnam Luggage & Travel Accessories Market Competitive Landscape
The Vietnam Luggage & Travel Accessories Market is characterized by a dynamic mix of regional and international players. Leading participants such as Samsonite International S.A., Tumi Holdings, Inc., American Tourister, Delsey S.A., Rimowa GmbH, Antler Ltd., Victorinox AG, Eastpak, Osprey Packs, Inc., The North Face, Inc., Herschel Supply Co., Kipling, Travelpro International, Inc., Briggs & Riley, Luggage Pros, Miti, Mr Vui, Sakos, Trip contribute to innovation, geographic expansion, and service delivery in this space.
Samsonite International S.A.
1910
Luxembourg
Tumi Holdings, Inc.
1975
New Jersey, USA
American Tourister
1933
Rhode Island, USA
Delsey S.A.
1946
France
Rimowa GmbH
1898
Cologne, Germany
Company
Establishment Year
Headquarters
Group Size (Large, Medium, or Small as per industry convention)
Revenue Growth Rate (YoY %)
Market Penetration Rate (% of target market reached)
Customer Retention Rate (%)
Average Order Value (USD/VND)
Pricing Strategy (Budget, Mid-range, Premium, Luxury)
Vietnam Luggage & Travel Accessories Market Industry Analysis
Growth Drivers
Increasing Domestic Tourism:
Vietnam's domestic tourism is projected to reach 85 million visitors in future, up from 80 million in future, according to the Vietnam National Administration of Tourism. This surge is driven by a growing interest in local destinations, which encourages consumers to invest in luggage and travel accessories. The government’s initiatives to promote tourism, including improved infrastructure and marketing campaigns, further support this growth, creating a robust demand for travel-related products.
Rising Disposable Income:
The average disposable income in Vietnam is expected to rise to approximately $3,200 per capita in future, reflecting a 6% increase from future. This increase in disposable income allows consumers to spend more on travel and related accessories. As more Vietnamese families prioritize travel experiences, the demand for quality luggage and travel accessories is anticipated to grow, driving market expansion significantly.
Growth of E-commerce:
E-commerce sales in Vietnam are projected to reach $20.5 billion in future, up from $16 billion in future, according to the Vietnam E-commerce Association. This rapid growth in online retail provides a significant platform for luggage and travel accessories, allowing brands to reach a broader audience. The convenience of online shopping, coupled with targeted marketing strategies, is expected to enhance consumer access to a variety of travel products, boosting overall market growth.
Market Challenges
Intense Competition:
The Vietnamese luggage and travel accessories market is characterized by intense competition, with over 200 brands vying for market share. This saturation leads to price wars and reduced profit margins, making it challenging for new entrants to establish themselves. Established brands dominate the market, creating barriers for smaller companies. As a result, innovation and differentiation become crucial for survival in this highly competitive landscape.
Fluctuating Raw Material Prices:
The prices of raw materials used in luggage production, such as polyester and aluminum, have seen significant fluctuations, with increases of up to 15% in future. These price changes can severely impact production costs and profit margins for manufacturers. Companies must navigate these challenges by optimizing supply chains and exploring alternative materials to maintain competitiveness in the market.
Vietnam Luggage & Travel Accessories Market Future Outlook
The Vietnam luggage and travel accessories market is poised for significant growth, driven by increasing domestic tourism and rising disposable incomes. As consumers prioritize travel experiences, the demand for innovative and high-quality products will rise. Additionally, the expansion of e-commerce will facilitate greater access to a variety of travel accessories. Companies that adapt to these trends, focusing on sustainability and technology integration, will likely capture a larger share of the market in the coming years.
Market Opportunities
Eco-friendly Products:
The demand for eco-friendly luggage is on the rise, with consumers increasingly prioritizing sustainability. In future, the market for eco-friendly travel accessories is expected to grow by approximately 20%, driven by consumer awareness and environmental concerns. Companies that invest in sustainable materials and practices can tap into this growing segment, enhancing brand loyalty and market presence.
Customization Trends:
Customization in luggage and travel accessories is gaining traction, with consumers seeking personalized products. The market for customized travel accessories is projected to grow by approximately 15% in future. Brands that offer unique designs and personalization options can attract a broader customer base, enhancing customer satisfaction and driving sales in a competitive market.
Please Note: It will take 5-7 business days to complete the report upon order confirmation.
Table of Contents
82 Pages
- 1. Vietnam Luggage & Travel Accessories Market Overview
- 1.1. Definition and Scope
- 1.2. Market Taxonomy
- 1.3. Market Growth Rate
- 1.4. Market Segmentation Overview
- 2. Vietnam Luggage & Travel Accessories Market Size (in USD Bn), 2019–2024
- 2.1. Historical Market Size
- 2.2. Year-on-Year Growth Analysis
- 2.3. Key Market Developments and Milestones
- 3. Vietnam Luggage & Travel Accessories Market Analysis
- 3.1. Growth Drivers
- 3.1.1. Increasing Domestic Tourism
- 3.1.2. Rising Disposable Income
- 3.1.3. Growth of E-commerce
- 3.1.4. Expansion of International Travel
- 3.2. Restraints
- 3.2.1. Intense Competition
- 3.2.2. Fluctuating Raw Material Prices
- 3.2.3. Regulatory Compliance Issues
- 3.2.4. Counterfeit Products
- 3.3. Opportunities
- 3.3.1. Eco-friendly Products
- 3.3.2. Customization Trends
- 3.3.3. Growth in Online Retail
- 3.3.4. Partnerships with Travel Agencies
- 3.4. Trends
- 3.4.1. Smart Luggage Technology
- 3.4.2. Sustainable Materials Usage
- 3.4.3. Rise of Minimalist Travel
- 3.4.4. Increased Focus on Brand Experience
- 3.5. Government Regulation
- 3.5.1. Import Tariffs on Luggage
- 3.5.2. Safety Standards for Travel Accessories
- 3.5.3. Environmental Regulations
- 3.5.4. Consumer Protection Laws
- 3.6. SWOT Analysis
- 3.7. Stakeholder Ecosystem
- 3.8. Competition Ecosystem
- 4. Vietnam Luggage & Travel Accessories Market Segmentation, 2024
- 4.1. By Type (in Value %)
- 4.1.1. Travel Luggage
- 4.1.2. Business Luggage
- 4.1.3. Casual Luggage
- 4.1.4. Sports Luggage
- 4.1.5. Vanity Cases & Kids’ Luggage
- 4.1.6. Smart Luggage
- 4.1.7. Others
- 4.2. By End-User (in Value %)
- 4.2.1. Business Travelers
- 4.2.2. Leisure Travelers
- 4.2.3. Students
- 4.2.4. Families
- 4.2.5. Tourists
- 4.2.6. Athletes
- 4.2.7. Others
- 4.3. By Distribution Channel (in Value %)
- 4.3.1. Offline Retail (Department Stores, Brand Outlets, Showrooms)
- 4.3.2. Online Retail (E-commerce Platforms: Shopee, Lazada, Tiki)
- 4.3.3. Omnichannel Retail
- 4.3.4. Specialty Stores
- 4.3.5. Supermarkets/Hypermarkets
- 4.3.6. Direct Sales
- 4.3.7. Others
- 4.4. By Price Range (in Value %)
- 4.4.1. Budget
- 4.4.2. Mid-range
- 4.4.3. Premium
- 4.4.4. Luxury
- 4.5. By Material (in Value %)
- 4.5.1. Polycarbonate/ABS
- 4.5.2. Polyester
- 4.5.3. Nylon
- 4.5.4. Leather
- 4.5.5. Canvas
- 4.5.6. Others
- 4.6. By Region (in Value %)
- 4.6.1. Northern Vietnam
- 4.6.2. Southern Vietnam
- 4.6.3. Central Vietnam
- 4.6.4. Mekong Delta
- 4.6.5. Highlands
- 4.6.6. Coastal Areas
- 5. Vietnam Luggage & Travel Accessories Market Cross Comparison
- 5.1. Detailed Profiles of Major Companies
- 5.1.1. Samsonite International S.A.
- 5.1.2. Tumi Holdings, Inc.
- 5.1.3. American Tourister
- 5.1.4. Delsey S.A.
- 5.1.5. Rimowa GmbH
- 5.2. Cross Comparison Parameters
- 5.2.1. No. of Employees
- 5.2.2. Headquarters
- 5.2.3. Inception Year
- 5.2.4. Revenue
- 5.2.5. Production Capacity
- 6. Vietnam Luggage & Travel Accessories Market Regulatory Framework
- 6.1. Industry Standards
- 6.2. Compliance Requirements and Audits
- 6.3. Certification Processes
- 7. Vietnam Luggage & Travel Accessories Market Future Size (in USD Bn), 2025–2030
- 7.1. Future Market Size Projections
- 7.2. Key Factors Driving Future Market Growth
- 8. Vietnam Luggage & Travel Accessories Market Future Segmentation, 2030
- 8.1. By Type (in Value %)
- 8.2. By End-User (in Value %)
- 8.3. By Distribution Channel (in Value %)
- 8.4. By Price Range (in Value %)
- 8.5. By Material (in Value %)
- 8.6. By Region (in Value %)
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