Luggage Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR41090
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The luggage market has the potential to grow by USD 11.03 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 7.68%.

This luggage market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (travel luggage, casual luggage, business luggage, and sports luggage), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and MEA). The luggage market report also offers information on several market vendors, including 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. among others.

What will the Luggage Market Size be in 2021?

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Luggage Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing global travel and tourism industry augmenting its growth is notably driving the luggage market growth, although factors such as increasing restrictions on smart luggage by airlines for security purposes may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the luggage industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • One of the key factors driving growth in the luggage market is the growing travel and tourism industry.
  • The travel and tourism industry, at present, is one of the fastest-growing and most diversified sectors, which results in energizing business, trade, employment, developing infrastructure, and stimulating the social development of different communities.
  • A shift in luggage preferences and an increase in demand have been experienced in the past decade with the growth in the travel and tourism industry.
  • Baby boomers contribute significantly to the travel and tourism industry as people in this demographic travel frequently, both for domestic and international travel, and their spending on leisure travel has been increasing rapidly over the last few years.
  • The major competitors in the luggage industry are incorporating advanced technology and scientific research to design stylish and multifunctional luggage based on consumer preferences.
  • The rising participation of women and children in sports is another major factor supporting the luggage market share growth.
  • Many sporting activities have witnessed increased participation of women in some of the major sports events over the last decade.
  • The increasing interest in sports among children between 5 and 12 years is a major driver expected to propel the sports luggage market.
  • Schools and colleges offer their students the required training for several sports activities like cricket, badminton, tennis, ball sports, and others encouraging them to participate in events and tournaments.
  • The increased commercialization of major sports in many countries has further encouraged women to enroll themselves and parents to enroll their children in training facilities for sports activities.
  • The main vendors are introducing multipurpose sports luggage that can carry a lot of sports equipment at a time, which becomes an essential product while traveling for sports tournaments.

This luggage market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Luggage Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • adidas AG
  • DELSEY
  • Groupe Artemis
  • LVMH Moet Hennessy Louis Vuitton SE
  • MCM Products USA Inc.
  • Nike Inc.
  • Tapestry Inc.
  • VF Corp.
  • VIP Industries Ltd.

 

This statistical study of the luggage market encompasses successful business strategies deployed by the key vendors. The luggage market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The luggage market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Luggage Market?

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49% of the market’s growth will originate from APAC during the forecast period. China is the key market for luggage in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Luggage Market?

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The luggage market share growth by the travel luggage segment will be significant during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the luggage market size and actionable market insights on post COVID-19 impact on each segment.

 

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

$ 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

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What are the Key Factors Covered in this Luggage Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive luggage market growth during the next five years
  • Precise estimation of the luggage market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the luggage industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of luggage market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Travel luggage - Market size and forecast 2020-2025
    • Casual luggage - Market size and forecast 2020-2025
    • Business luggage - Market size and forecast 2020-2025
    • Sports luggage - Market size and forecast 2020-2025
    • Market opportunity by Product

    Market Segmentation by Distribution channel

    • Market segments
    • Comparison by Distribution channel
    • Offline - Market size and forecast 2020-2025
    • Online - Market size and forecast 2020-2025
    • Market opportunity by Distribution channel

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • adidas AG
      • DELSEY
      • Groupe Artemis
      • LVMH Moet Hennessy Louis Vuitton SE
      • MCM Products USA Inc.
      • Nike Inc.
      • Tapestry Inc.
      • VF Corp.
      • VIP Industries Ltd.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The luggage market growth will increase by $16.67 billion during 2019-2024.
      The luggage market is expected to grow at a CAGR of 6.97% during 2019-2024.
      Technavio has segmented the luggage market by product (Travel luggage, Casual luggage, Business luggage, and Sports luggage) ,service (Infrastructure outsourcing and Application outsourcing) , and geographic (APAC, North America, Europe, and South America).
      adidas AG, Delsey SA, LVMH Moët Hennessy - Louis Vuitton, MCM Products AG, Nike Inc., PUMA SE, Samsonite International SA, Tapestry Inc., VF Corp., VIP Industries Ltd. are a few of the key vendors in the luggage market.
      APAC will register the highest growth rate of 51.03% among the other regions. Therefore, the luggage market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the luggage market growth are:
      • Growing global travel and tourism industry augmenting growth
      • Introduction of convertible and foldable luggage
      The luggage market vendors should focus on grabbing business opportunities from the travel luggage segment as it accounted for the largest market share in the base year.
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