NEW YORK, Sept. 7, 2021 /PRNewswire/ -- The luggage market is poised to grow by USD 16.67 billion during 2020-2024, progressing at a CAGR of about 7% during the forecast period. The report on the luggage market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.

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The growing travel and tourism industry is significantly driving the global luggage market growth. In addition, the increasing popularity of tourism, outdoor sports, and adventure tours, especially in emerging nations, is augmenting sales of travel luggage products such as suitcases and carry-ons will also boost the market growth. The introduction of convertible and foldable luggage is one of the key luggage market trends likely to influence the market positively. However, competition from local brands will challenge the growth of the market participants. 

The Luggage Market is segmented by Product (Travel luggage, Casual luggage, Business luggage, and Sports luggage), Distribution channel (Specialty stores, Department stores, Hypermarkets, and Supermarkets, Online retail, and Warehouse clubs), and Geography (APAC, Europe, MEA, North America, and South America). This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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The luggage market covers the following areas:

Luggage Market Sizing
Luggage Market Forecast
Luggage Market Analysis

Companies Mentioned

• 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.

Related Reports:

Leather Luggage Market by Product and Geography - Forecast and Analysis 2021-2025

Smart Carry-on Bags Market by Technology and Geography - Forecast and Analysis 2020-2024

Laptop Carry Case Market by Distribution Channel and Geography - Forecast and Analysis 2021-2025

Key Topics Covered:

Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

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

Customer landscape

• Overview

Drivers, Challenges, and Trends

• Market drivers
• Volume driver - Demand led growth
• Volume driver - Supply led growth
• Volume driver - External factors
• Volume driver - Demand shift in adjacent markets
• Price driver - Inflation
• Price driver - Shift from lower to higher priced units
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• 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.

Appendix

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

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