(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Nov. 25, 2022 (GLOBE NEWSWIRE) -- The 'global luggage (casual, business, travel) market outlook, 2027' report has been added to ResearchAndMarkets.com's offering.
The report provides a comprehensive analysis of the luggage in the world. The report offers a complete guide to the size and share of the market at a national level. Along with historic data, it also provides the latest sales data - thus allowing you to identify the market segments driving growth.
The global Luggage market is expected to grow with a CAGR of more than 5% in the forecasted period of 2022 to 2027 with more than USD 60 Billion market size.
The report also identifies leading companies and brands, along with examining competition among them. Forecasts through four years demonstrate how the market is set to change in coming years.
The publisher employs comprehensive and iterative research methodology focused on minimizing errors in order to provide the most accurate estimates and forecast possible. Additionally, the report includes a complete guide on global luggage market, with focus on regions like North America, South America, Europe, Asia Pacific and Middle East & Africa.
The overall luggage market can be divided into three primary sub segments; casual bags, travel bags and business bags. Casual bags are suitable for daily use especially for college going students, women for households shopping etc.
The travel bag segment, a major contributor is increasing due to increasing travel and tourism across globe with declining air fare, development of infrastructure, flexibility in job etc. And, business bags include convenience for carrying a laptop and documents. Further, rising internet penetration and technological innovation will go about as an impetus for the market development. Asia-Pacific is the major contributor followed by North America. Rest of three regions constitute around 30% of the luggage market.
The Luggage Market is expected to boom, with new advances and accessibility of air travel, the global Luggage Market has renovated itself by offering small lightweight, colourful and stylish bags that cater to the various needs of the travellers. The growing travel and tourism industry, rise in migration of population, and increasing disposable income are fuelling the growth pace. Also, the growing customer inclination towards high-end luggage equipped with Global Positioning System (GPS) tracker, rising urbanization, and increasing disposable income are expected to drive the Luggage Market over the predicted years.
Discount selling, comfort, replacement of bags, convenience in choice through e-commerce is identified as key trends of the market. This has opened the doors for new prospects for market players. Further, increasing innovations in the market is expected to boost demand for luggage over the forecast period. These innovations are expected to create growth opportunity for manufacturers by attracting larger customer base.
Rapid growth of the travel and tourism industry across the globe is expected to drive growth of luggage market over the forecast period. Moreover, demand for premium range luggage with advanced technologies is expected to increase due to growing luxury travel market and increasing disposable income across the globe.
To create more environmentally friendly and sustainable products, Horizn Studios has debuted its new range of luxury luggage. This new luggage range called Circle One is 100% plant-based and biodegradable for ethically aware travellers. The brand has also eliminated the use of single-use plastics in its packaging, and is focusing on the utilization of recyclable materials and cardboard instead.
On the other hand, Go Travel has partnered with Case and is all set to take center stage with its accessories now being showcased at the Case store at London's Heathrow airport. The companies have signed a three-year agreement and the agreement is expected to be followed throughout a majority of Case stores. Go Travel is known for its accessories such as pillows, travel adapters, and travel comfort collection.
Factors such as an increase in consumer spending, growth of the travel and tourism industry and a rise in the middle class population with higher disposable income led to an upsurge in the demand for luggage in the region. North America luggage market luggage provides lucrative opportunities in the coming years. Economic stability and growth of the travel and tourism industry in the region gives a resilient opportunity for the luggage market.
Considered for the Report:
Geography: North America, South America, Europe, Asia-Pacific, Middle East & Africa Base Year: FY 2016 Estimated Year: FY 2022 Forecast Year: FY 2027
Objective of the study:
To present a global luggage industry To analyse and forecast the market size of North America Luggage, in terms of value To analyse and forecast the market size of South America Luggage, in terms of value To analyse and forecast the market size of Europe Luggage, in terms of value To analyse and forecast the market size of Asia-Pacific Luggage, in terms of value To analyse and forecast the market size of Middle East-Africa Luggage, in terms of value To define, classify and forecast Luggage market on the basis of segments like Travel Bags, Casual Bags and Business Bags To strategically profile leading players, those are operating in the Luggage industry of World.
Key Topics Covered:
1. Executive Summary
2. Market Dynamics
2.1. Market Drivers
2.2. Challenges
2.3. Opportunity
2.4. Restraints
2.5. Market Trends
2.6. Covid-19 Effect
2.7. Supply chain Analysis
2.8. Policy & Regulatory Framework
2.9. Industry Experts Views
3. Research Methodology
3.1. Research Process
3.2. Secondary Research
3.3. Primary Data Collection
3.4. Market Formation & Validation
3.5. Report Writing, Quality Check & Delivery
4. Market Structure
4.1. Market Considerate
4.2. Assumptions
4.3. Limitations
4.4. Abbreviations
4.5. Sources
4.6. Definitions
5. Economic /Demographic Snapshot
6. Competitive Landscape
6.1. Competitive Dashboard
6.2. Business Strategies Adopted by Key Players
6.3. Key Players Market Share Insights and Analysis, 2021
6.4. Key Players Market Positioning Matrix
6.5. Consolidated SWOT Analysis of Key Players
6.6. Porter's Five Forces
7. Global Luggage Market Outlook
8. North America Luggage Market Outlook
9. Europe Luggage Market Outlook
10. Asia-Pacific Luggage Market Outlook
11. South America Luggage Market Outlook
12. Middle East & Africa Luggage Market Outlook
13. Company Profile
14. Strategic Recommendations
15. Annexure
16. Disclaimer
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