Luggage Market | Discover Top Segments, Trends, Drivers and Challenges
Market Segments and Growth Analysis 2021-2025
The Global luggage market is expected to grow by $ 11.03 bn, accelerating at a CAGR of about 7.68% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
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Luggage Market: Segments and Leading Regions
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- The report segments the market 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). Each market segment is analyzed for past performance leading to future growth projections based on current market scenario.
- 49% of the market growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Luggage Market size.
Luggage Market: Trends, Drivers, Challenges to impact growth
Our report helps market players to discover the various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will provide clients with all the information they would require for designing a growth strategy for their business.
- A key market driver for the Luggage Market will be growing global travel and tourism industry augmenting its growth.
- Another factor that will boost the market will be the Rising participation of women and children in sports.
- One of the key challenges that market players need to contend with in order to achieve further success is the Increasing restrictions on smart luggage by airlines for security purposes.
Luggage Market: Vendor Analysis
- The market is fragmented.
- The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
- 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. are some of the major market participants.
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The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerate at a CAGR of about 7.68%.
- What is the incremental growth of the market?
The market is expected to grow by $ 11.03 bn through 2021-2025.
- What is a key factor driving this market?
Growing global travel and tourism industry augmenting its growth will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, North America, Europe, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market:
49% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are 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.
- What are the market segments covered in this report?
The market is segmented 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)