Luggage Market Size, Share, Outlook, and Opportunity Analysis, 2019-2027

 

Luggage Market

Travel bags, briefcases, and other casual bags typically make up luggage. With countless organised (global) and disorganised (local) producers producing various types of baggage for diverse travel and business needs, luggage is a very important consumer commodity around the world. Major participants in the organised sector are facing numerous challenges in rising economies of the Asia Pacific region from unorganised players in the luggage business. Due to the low cost of raw materials like leather, plastics, and others, making baggage is easier to produce. Local luggage producers in the unorganised sector also frequently provide their goods at a lesser cost since they spend less on expenses like R&D, marketing, branding, and the cost of obtaining premium raw materials.

The Global Luggage Market Was Valued At US$ 22,467.2 Mn In 2018 And Is Projected To Increase To US$ 38,513.8 Mn By 2027, Witnessing A CAGR Of 6.3% Over The Forecast Period.

Global demand for Luggage Market is anticipated to increase as a result of technological improvements made by industry participants. In order to make travelling easier and more comfortable for the traveller, a luggage bag has a kick scooter attached to it, according to research published in the International Journal for Research in Applied Science & Engineering Technology (IJRASET) in November 2017. For instance, the 4-in-1 solution offered by Slovenian scooter with backpack maker OLAF includes a steerable kick-scooter, a strong trolley, a removable ergonomic backpack, and a wooden skateboard.

Additionally, businesses like G-RO and Scoocase have added power banks to their bags. Additionally, the Delsey Paris Pilot 4.0 and Titus from Antler USA both feature an integrated USB connector and wires that are linked to a power bank compartment. A bag with an integrated scale that displays the exact weight of the luggage as soon as the user lifts the bag is another example of smart luggage. For instance, the integrated weighing scale in Airo's smart luggage trolley bags has given the company a competitive advantage over other products. During the anticipated period, these factors are anticipated to accelerate the growth of the luggage market.

Key players operating in the market include Tapestry Inc., Rimowa GmbH, Louis Vuitton Malletier, S.A., Victorinox Swiss Army, Inc., Samsonite International S.A, Coach Inc, VF Corporation, Antler Limited, Delsey S.A., Bric's Industria Valigeria Fine SpA, Etienne Aigner AG, and VIP Industries Limited.

Press Release of Luggage Market is available

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