
Global Luggage Market (by Luggage Type (Casual Bags, Travel Bags and Business Bags), & Region): Insights & Forecast with Potential Impact of COVID-19 (2022-2026)
Description
Global Luggage Market (by Luggage Type (Casual Bags, Travel Bags and Business Bags), & Region): Insights & Forecast with Potential Impact of COVID-19 (2022-2026)
Market Insight:
Luggage can be described as bags or other objects that people use to store and transport their belongings safely. There are various types of luggages available such as plastic bags, jute bags, leather bags, backpacks, suitcases, among others. In terms of new brands and styles, the baggage market is expanding, giving consumers more alternatives than ever before.
Three types of luggage are included in the report: casual bags, travel bags and business bags. The global luggage market is likely to reach US$25.55 billion in 2023, witnessing growth at a CAGR of 7.48% during the forecasted year.
Segment Covered:
- By Luggage Type: On the basis of luggage type, the report identifies three segments of the global luggage market: Casual Bags, Travel Bags and Business Bags. Casual bags segment lead the market, accounted for the majority of share in the market, because of rising attention towards fashion sense among the young population. The travel bags market is expected to grow at the highest CAGR, due a surge in the air traffic across the world, which is supported by the growth of the travel and tourism industry. Rising travel and tourism would increase the demand for travel bags.
- In the report, the global luggage market is divided into five regions: North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. The countries covered in Asia Pacific region include China, Japan, and Rest of Asia Pacific, while Europe includes UK, Germany, France, Italy, and Rest of Europe. Moreover, the US, Canada, & Mexico are included in the North American region.
Top Impacting Factors:
Growth Drivers
- Growing Travel and Tourism Spending
- Rapid Urbanization
- Growth of E-commerce
- Rising Middle Class Population and Spending
- Threat from Counterfeit Products
- Volatility in Raw Material Prices
- Surge in Online Advertising
- Growing Inclination Towards Branded Products
- Use of Luggage as Fashion Accessory
- Rising Demand for Smart Luggage
- Driver: Growing Travel and Tourism Spending
- Challenge: Threat from Counterfeit Products
- Trend: Use of Luggage as Fashion Accessory
The COVID-19 Analysis:
The COVID-19 pandemic, travel restrictions, national and local lockdowns have impacted many countries across the world. Like many other industries the global luggage industry also experienced a slowdown, especially during the first half of 2020. During the lockdown, the operations of numerous industries were temporarily halted or was functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global luggage market is no different, and this factor impacted the supply chain and that led to high cost associated with branded luggage. Due to the impact of the COVID-19, travel and tourism have slowed to a trickle. Therefore, the luggage industry has been severely impacted. The majority of potential customers restrained their spending on travel bags, which had a direct impact on the luggage market's top big brands' sales earnings. In 2021, the pandemic situation stabilized, consumer purchasing patterns strengthened, and the market began to reach its full potential as the economies of developing countries improved. People started traveling as travel restrictions were removed and demand for luggage were returned to pre pandemic level.
Analysis of Key Players:
The global luggage market is fragmented. However, the market share of organized players has increased significantly over the last few years and is expected to continue given the wide product offerings, better service and higher brand visibility. The key players of the global luggage market are:
- VIP Industries Limited
- LVMH Group
- Samsonite International S.A.
- PVH Corp. (Tommy Hilfiger)
- VF Corporation
- United States Luggage Company LLC. (Briggs & Riley)
- Safari Industries (India) Ltd
- Travelpro
- Victorinox International
- Delsey
Table of Contents
117 Pages
- 1. Executive Summary
- 2. Introduction
- 2.1 Luggage: An Overview
- 2.2 Luggage Segmentation: An Overview
- 2.2.1 Luggage Segmentation by Distribution Channel
- Table 1: Luggage Segmentation by Distribution Channel
- 2.2.2 Luggage Segmentation by Material Type and Product Type
- Table 2: Luggage Segmentation by Material Type and Product Type
- 3. Global Market Analysis
- 3.1 Global Luggage Market: An Analysis
- 3.1.1 Global Luggage Market by Value
- Table 3: Global Luggage Market by Value; 2017-2021 (US$ Billion)
- Table 4: Global Luggage Market by Value; 2022-2026 (US$ Billion)
- 3.1.2 Global Luggage Market by Segments (casual bags, travel bags and business bags)
- Table 5: Global Luggage Market by Segments; 2021 (Percentage, %)
- 3.1.3 Global Luggage Market by Region (Asia Pacific, Europe, North America, Central & South America, and Middle East & Africa)
- Table 6: Global Luggage Market by Region; 2021 (Percentage, %)
- 3.2 Global Luggage Market: Segment Analysis
- 3.2.1 Global Casual Bags Market by Value
- Table 7: Global Casual Bags Market by Value; 2017-2021 (US$ Billion)
- Table 8: Global Casual Bags Market by Value; 2022-2026 (US$ Billion)
- 3.2.2 Global Travel Bags Market by Value
- Table 9: Global Travel Bags Market by Value; 2017-2021 (US$ Billion)
- Table 10: Global Travel Bags Market by Value; 2022-2026 (US$ Billion)
- 3.2.3 Global Business Bags Market by Value
- Table 11: Global Business Bags Market by Value; 2017-2021 (US$ Billion)
- Table 12: Global Business Bags Market by Value; 2022-2026 (US$ Billion)
- 4. Regional Market Analysis
- 4.1 North America Luggage Market: An Analysis
- 4.1.1 North America Luggage Market by Value
- Table 13: North America Luggage Market by Value; 2017-2021 (US$ Billion)
- Table 14: North America Luggage Market by Value; 2022-2026 (US$ Billion)
- 4.1.2 North America Luggage Market by Region (The US, Mexico and Canada)
- Table 15: North America Luggage Market by Region; 2021 (Percentage, %)
- 4.1.3 The US Luggage Market by Value
- Table 16:The US Luggage Market by Value; 2018-2021 (US$ Billion)
- Table 17:The US Luggage Market by Value; 2022-2026 (US$ Billion)
- 4.1.4 Mexico Luggage Market by Value
- Table 18: Mexico Luggage Market by Value; 2018-2021 (US$ Million)
- Table 19: Mexico Luggage Market by Value; 2022-2026 (US$ Million)
- 4.1.5 Canada Luggage Market by Value
- Table 20: Canada Luggage Market by Value; 2018-2021 (US$ Million)
- Table 21: Canada Luggage Market by Value; 2022-2026 (US$ Million)
- 4.2 Europe Luggage Market: An Analysis
- 4.2.1 Europe Luggage Market by Value
- Table 22: Europe Luggage Market by Value; 2017-2021 (US$ Billion)
- Table 23: Europe Luggage Market by Value; 2022-2026 (US$ Billion)
- 4.2.2 Europe Luggage Market by Region (UK, France, Germany, Italy and Rest of Europe)
- Table 24: Europe Luggage Market by Region; 2021 (Percentage, %)
- 4.2.3 UK Luggage Market by Value
- Table 25: UK Luggage Market by Value; 2018-2021 (US$ Billion)
- Table 26: UK Luggage Market by Value; 2022-2026 (US$ Million)
- 4.2.4 France Luggage Market by Value
- Table 27: France Luggage Market by Value; 2018-2021 (US$ Million)
- Table 28: France Luggage Market by Value; 2022-2026 (US$ Million)
- 4.2.5 Germany Luggage Market by Value
- Table 29: Germany Luggage Market by Value; 2018-2021 (US$ Million)
- Table 30: Germany Luggage Market by Value; 2022-2026 (US$ Million)
- 4.2.6 Italy Luggage Market by Value
- Table 31: Italy Luggage Market by Value; 2018-2021 (US$ Million)
- Table 32: Italy Luggage Market by Value; 2022-2026 (US$ Million)
- 4.2.7 Rest of Europe Luggage Market by Value
- Table 33: Rest of Europe Luggage Market by Value; 2018-2021 (US$ Billion)
- Table 34: Rest of Europe Luggage Market by Value; 2022-2026 (US$ Billion)
- 4.3 Asia Pacific Luggage Market: An Analysis
- 4.3.1 Asia Pacific Luggage Market by Value
- Table 35: Asia Pacific Luggage Market by Value; 2017-2021 (US$ Billion)
- Table 36: Asia Pacific Luggage Market by Value; 2022-2026 (US$ Billion)
- 4.3.2 Asia Pacific Luggage Market by Region (China, Japan and Rest of Asia Pacific)
- Table 37: Asia Pacific Luggage Market by Region; 2021 (Percentage, %)
- 4.3.3 China Luggage Market by Value
- Table 38: China Luggage Market by Value; 2018-2021 (US$ Billion)
- Table 39: China Luggage Market by Value; 2022-2026 (US$ Billion)
- 4.3.4 Japan Luggage Market by Value
- Table 40: Japan Luggage Market by Value; 2018-2021 (US$ Billion)
- Table 41: Japan Luggage Market by Value; 2022-2026 (US$ Billion)
- 4.3.5 Rest of Asia Pacific Luggage Market by Value
- Table 42: Rest of Asia Pacific Luggage Market by Value; 2018-2021 (US$ Billion)
- Table 43: Rest of Asia Pacific Luggage Market by Value; 2022-2026 (US$ Billion)
- 4.4 Central and South America Luggage Market: An Analysis
- 4.4.1 Central and South America Luggage Market by Value
- Table 44: Central and South America Luggage Market by Value; 2017-2021 (US$ Billion)
- Table 45: Central and South America Luggage Market by Value; 2022-2026 (US$ Billion)
- 4.5 Middle East & Africa Luggage Market: An Analysis
- 4.5.1 Middle East & Africa Luggage Market by Value
- Table 46: Middle East & Africa Luggage Market by Value; 2017-2021 (US$ Billion)
- Table 47: Middle East & Africa Luggage Market by Value; 2022-2026 (US$ Billion)
- 5. Impact of COVID-19
- 5.1 Impact of COVID-19 on Luggage Industry
- Table 48: Impact of the COVID-19 Pandemic on Travel Goods Retail Sales Growth in the US by product category; 2019-2020 (Percentage, %)
- 5.1.1 COVID led Disruption Led to Decline in Share of Unorganized Market
- 5.2 Post COVID-19 Impact on Luggage Industry
- 6. Market Dynamics
- 6.1 Growth Drivers
- 6.1.1 Growing Travel and Tourism Spending
- Table 49: Global Travel and Tourism Revenue; 2017-2025 (US$ Billion)
- 6.1.2 Rapid Urbanization
- Table 50: Global Urbanization Rates; 2010-2021 (Percentage, %)
- 6.1.3 Growth of E-commerce
- Table 51: Global Retail E-commerce Sales; 2020-2025 (US$ Trillion)
- 6.1.4 Rise in Student Enrolment
- Table 52: Global School Enrolment; 2015-2020, (Percentage, %)
- 6.1.5 Rising Purchasing Power
- Table 53: Global GDP Per Capita; 2000-2025 (US$ Thousand)
- 6.1.6 Rising Youth Population
- Table 54: Global Youth Population; 2017-2020 (Million)
- 6.1.7 Rising Middle Class Population and Spending
- Table 55: Global Middle Class Population; 2020-2030 (Billion)
- Table 56: Global Middle Class Population Spending; 2020-2030 (US$ Trillion)
- 6.2 Challenges
- 6.2.1 Threat from Counterfeit Products
- 6.2.2 Volatility in Raw Material Prices
- 6.2.3 Rising Geo-Political Tensions
- 6.3 Market Trends
- 6.3.1 Surge in Online Advertising
- Table 57: Global Digital Ad Spending; 2019-2024 (US$ Billion)
- 6.3.2 Rising Demand for Smart Luggage
- Table 58: Global Smart Luggage Market by Value; 2020-2028 (US$ Billion)
- 6.3.3 Growing Inclination Towards Branded Products
- 6.3.4 Use of Luggage as Fashion Accessory
- 6.3.5 Advancement in Luggage Benefiting the Market
- 6.3.6 Adoption of Organic Leather Products
- 7. Competitive Landscape
- 7.1 Global Luggage Market Players by Brands
- Table 59: Global Luggage Market Players by Brands
- 7.2 Global Luggage Market Players by Products
- Table 60: Global Luggage Market Players by Products
- 7.3 Global Luggage Market Players by Brand Mapping
- Table 61: Global Luggage Market Players by Brand Mapping
- 7.4 India Luggage Players by Market Share
- Table 62: India Luggage Players by Market Share; 2021 (Percentage, %)
- 8. Company Profiles
- 8.1 Samsonite International S.A.
- 8.1.1 Business Overview
- 8.1.2 Operating Segments
- Table 63: Samsonite International S.A. Revenues by Segments; 2021 (Percentage, %)
- 8.1.3 Business Strategy
- 8.2 VIP Industries Limited
- 8.2.1 Business Overview
- Table 64: VIP Industries Limited Brands
- 8.2.2 Operating Segments
- Table 65: VIP Industries Limited Revenue by Region; 2021 (Percentage, %)
- 8.2.3 Business Strategy
- 8.3 VF Corporation
- 8.3.1 Business Overview
- 8.3.2 Operating Segments
- Table 66: VF Corporation Total Revenue by Segments; 2021
- (Percentage, %)
- 8.3.3 Business Strategy
- 8.4 LVMH Group
- 8.4.1 Business Overview
- 8.4.2 Operating Segments
- Table 67: LVMH Group Revenue by Segments; 2021 (Percentage, %)
- 8.4.3 Business Strategy
- 8.5 PVH Corp. (Tommy Hilfiger B.V.)
- 8.5.1 Business Overview
- 8.5.2 Operating Segments
- Table 68: PVH Corp. (Tommy Hilfiger B.V.) Net Sales ; 2021 (Percentage, %)
- 8.5.3 Business Strategy
- 8.6 Victorinox International
- 8.6.1 Business Overview
- 8.6.2 Business Strategy
- 8.7 United States Luggage Company, LLC (Briggs & Riley)
- 8.7.1 Business Overview
- 8.7.2 Business Strategy
- 8.8 Travelpro
- 8.8.1 Business Overview
- 8.8.2 Business Strategy
- 8.9 Delsey
- 8.9.1 Business Overview
- 8.9.2 Business Strategy
- 8.10 Safari Industries (India) Ltd.
- 8.10.1 Business Overview
- 8.10.2 Business Strategy
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