Key Luggage Market Report Highlights:
- Market growth 2020-2025: USD 11.03 billion
- Growth momentum & CAGR: Accelerate at a CAGR of 7.68%
- YoY growth (%): 4.35%
- Performing market contribution: APAC at 49%
- Key consumer countries: the US, China, the UK, Germany, and Canada
Regional Market Analysis
With 49% of the growth originating from APAC, this region will record a faster growth rate during 2020-2025.
The rapid rise in population and increasing outbound tourism are driving the growth of the luggage market in APAC. In addition, the increasing number of working women and the rise in dual-income households are expected to foster the growth of the regional market.
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Key Vendors and Vendor Strategies
AG, DELSEY, Groupe Artemis, LVMH Moet Hennessy Louis Vuitton SE, MCM Products USA Inc., Nike Inc., Tapestry Inc., VF Corp., and VIP Industries Ltd. are some of the dominant players in the luggage market.
The luggage market is fragmented due to the presence of a large number of players. The vendors in the market are constantly adopting various organic and inorganic growth strategies to remain competitive in the market. Vendors are focusing on launching innovative products to gain an edge over their rivals.
For instance:
adidas AG: The company offers a wide range of luggage bags such as essential backpacks, prime backpacks, duffel bags, and others.
DELSEY: The company offers suitcases in a variety of colors and sizes.
Groupe Artemis: The company offers a wide range of trolly bags under the brand Puma.
LVMH Moet Hennessy Louis Vuitton SE: The company offers horizon soft, a new line of innovative luggage created with designer Marc Newson.
MCM Products USA Inc.: The company offers luggage and travel accessories for all kinds of travel.
Download our free sample report to get a brief understanding of various other vendors and their strategies.
Key Market Drivers
Our analysts have extensively outlined the information on the key market drivers and their impact on the luggage market.
- Growing travel and tourism industry:
The global travel and tourism industry has been witnessing healthy growth over recent years. The growth of the industry has been significantly influenced by the presence of the baby boomer population that travels frequently, both domestic and international. The spending on leisure travel by the general public has also been on the rise. In addition, the increase in business activities, trade, employment, and infrastructure development are expected to fuel the growth of the global luggage market during the forecast period.
To know about a few other market drivers, trends, and challenges,
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Luggage Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.68% |
Market growth 2021-2025 |
USD 11.03 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.35 |
Regional analysis |
APAC, North America, Europe, South America, and MEA |
Performing market contribution |
APAC at 49% |
Key consumer countries |
US, China, UK, Germany, and Canada |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
adidas AG, DELSEY, Groupe Artemis, LVMH Moet Hennessy Louis Vuitton SE, MCM Products USA Inc., Nike Inc., Tapestry Inc., VF Corp., and VIP Industries Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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