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Global Luggage Market (Size of
$30,967 million in 2014) to Witness
6% CAGR during 2015 – 2020

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Luggage Market

The global luggage market is expected to increase from $30,967.0 million in
2014 to reach $43,356.0 million in 2020, growing at a CAGR of 5.5%. The
global luggage market is mainly driven by changing lifestyles and increasing
urbanization, which is further creating opportunities for luggage sales
among high net-worth individuals. Growing interest of people in tourism is
an important driver boosting the global luggage market demand. The AsiaPacific luggage market is expected to witness the fastest CAGR of 6.7%
during 2015 – 2020. Evolving technologies in the luggage industry are also
expected to boost the luggage market growth.
Explore report description with detailed TOC:
https://www.psmarketresearch.com/market-analysis/luggage-market

Luggage Market

Luggage as a fashion accessory is also influencing luggage suppliers to provide
modern, lightweight luggage items suitable for continuous use. Luggage as a
fashion accessory has become popular over the last few years, especially in
developed and mature markets such as that in the U.S. which has led to
increase in demand for luggage, especially business related luggage. In Europe,
spending on travel and tours is expected to increase with increasing business
trips and leisure trip due to lowering of air travelling costs.
The information and data in the publication “Global Luggage Market Size, Share,
Development, Growth and Demand Forecast to 2020” represent the research
and analysis of data from various primary and secondary sources. Bottom-up
approach has been used to calculate the global Luggage market by product. The
market numbers for countries are obtained through top-down approach. P&S
Market Research analysts and consultants interact with leading companies of
the concerned domain to substantiate every data presented in this report. The
company base its primary research on discussions with prominent professionals
and analysts in the industry, aided by informed and detailed online and offline
research.

Luggage Market

The demand for lightweight durable consumer products such as luggage is
increasing globally. Lightweight luggage is easier to carry and handle, and
provides comfort to customers. Luggage companies are utilizing raw materials,
such as polycarbonate resins, to decrease the weight of luggage. There have
been several technological advancements in the luggage market, such as
provision for increased level of security and utility in the baggage. These
luggage products are expected to be popular among the high net worth
individuals population. Additional features, such as connectivity, have been
added to the luggage, which has increased their traceability and security. For
added consumer preferences for security, smart luggage is equipped with
various technologies and features, such as bluetooth-enabled lock, global
positioning system (GPS), and a USB port for recharging electronic devices, such
as mobile phones.

The major companies operating in the global luggage market include Samsonite
International S.A., Inc., Tumi Holdings, Inc., VIP Industries Ltd., VF Corporation,
Briggs & Riley Travelware, Rimowa GmbH, MCM Worldwide, and Louis Vuitton
Malletier S.A..

Luggage Market

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