Luggage refers to bags, cases or containers which hold things while traveling. Key types include suitcases on wheels, carry-on bags, duffel bags and backpacks. Luggage allows people to conveniently transport clothing, electronics, toiletries and other travel essentials in an organized manner.
The global luggage market is estimated to be valued at US$ 177.03 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Technological innovations in material and design is one of the key trends driving growth in the luggage market. Manufacturers are focusing on developing lightweight yet durable luggage using advanced materials such as carbon fibers and polycarbonate alloys. For instance, Rimowa launched its first polycarbonate luggage line called "Salsa" that is 20% lighter than conventional luggage of the same size. Companies are also innovating luggage design with multi-access features such as built-in USB charging ports, digital locks and multi-directional spinner wheels to provide added convenience to travelers. This has increased luggage functionality and made them attractive for frequent travelers thereby accelerating market growth over the forecast period.
Segment Analysis
Soft luggage dominates the luggage market, accounting for more than 45% share, owing to increased demand for soft luggage among business travelers and frequent flyers. Soft luggage provides more space for packing, is light in weight, and can adjust according to the content. Backpacks hold the second largest share and are gaining popularity among young travelers and college students who seek flexible storage space for laptops, books, and other accessories.
Key Takeaways
Global Luggage Market Demand is expected to witness high growth driven by increasing tourism and travel.
Regional analysis shows Asia Pacific region dominates the market and is projected to witness the fastest growth led by strong economic growth in countries like China and India and rise of middle-class consumers in these countries. North America holds a significant share owing to higher disposable incomes and a trend of frequent weekend breaks and mini vacations.
Key players operating in the luggage market are Thermo Fisher Scientific, Danaher Corporation, Merck KGaA, BD Biosciences, Promega Corporation, Bio-Techne Corporation, Bio-Rad Laboratories, F. Hoffmann-La Roche Ltd, QIAGEN N.V., Sartorius AG, PerkinElmer, Miltenyi Biotec, Cell Signaling Technology, BioLegend, Abcam, Takara Bio, Fluidigm Corporation, NanoString Technologies, 10x Genomics, Bethyl Laboratories.
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In this report, our team offers a comprehensive analysis of Luggage market, SWOT analysis of the most prominent players in this landscape.
Along with an industrial chain, market statistics in terms of revenue, sales, price, capacity, regional market analysis, segment-wise data, and market forecast information are offered in the full study, etc.
Download Free Sample Report @ https://www.radiantinsights.com/research/global-luggage-market-2020-2026/request-sample This report focuses on top manufacturers in global market, Involved the assessment of Sales, price, revenue and market share for each manufacturer, covering • Samsonite International SA• LVMH• Delsey• VIP Industries• Rimowa• Hermes• Kering• Shanghai Taifeng Cases• Safari Industries On the basis of product, this report displays the Sales, revenue, price, market share and growth rate of each type, primarily split into • Travel• Business• Sports• Others By Application, this report focuses on Sales, Market share and Growth Rate of each application, can be divided into • Offline• Online By Regions, this report splits global market into several key regions, with Sales, Revenue, Price and Gross Margin market share of top players in these regions, from 2014 to 2026 (forecast), like • China• USA• Europe• Japan• Korea• India• Southeast Asia• South America Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/global-luggage-market-2020-2026 Table of Contents Global Luggage Market Professional Survey Report 2019 1 Report Overview1.1 Definition and Specification1.2 Manufacturers and Region Overview1.2.1 Manufacturers Overview1.2.2 Regions Overview1.3 Type Overview1.3.1 Travel1.3.2 Business1.3.3 Sports1.3.4 Others1.4 Application Overview1.4.1 Offline1.4.2 Online1.5 Industrial Chain1.5.1 Luggage Industrial Chain1.5.2 Upstream1.5.3 Downstream 2.1 The Overall Market Performance(Volume)2.1.1 Travel2.1.2 Business2.1.3 Sports2.1.4 Others2.2 The Overall Market Performance(Value)2.2.1 Travel2.2.2 Business2.2.3 Sports2.2.4 Others 3 Global Luggage Market Assessment by Application3.1 Overall Market Performance (Volume)3.2 Offline3.3 Online Continued… Read all Reports of this category @ https://www.radiantinsights.com/catalog/consumer-goods About Radiant InsightsRadiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
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