Luggage
& Travel Bags Market Current Status, In-depth Analysis and Forecast Outlook
2031

The
global luggage & travel bags market is anticipated to grow at a substantial
CAGR of 6.4% during the forecast period. The market is set to display
impressive growth owing to the increasing urbanization along with development
of airport infrastructure and tourist destinations globally, and rising income
level of the population in major economies along with lifestyle changes. The
significant growth in travel and tourism sector is another factor for the
market growth. The major players operating in luggage & travel bags
industry are now focusing on designing of smart bags with multiple features
such as internet connectivity, RFID pockets, and USB connection among others.
to attract customers, this factor is further supporting the growth of the
market. Consumers in major economies are investing more on luxury and premium
quality products which is motivating the manufacturers to focus on better
design and development of innovative products made up of environmentally
friendly materials. For instance, Horizn Studios launched Circle One, a
sustainable piece of luggage, realized with 100.0% plant-based materials and
designed to be repaired.

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The
global luggage & travel bags market is segmented based on product type and
material type. Based on product type, the market is sub-segmented into duffle,
trolleys, and backpacks. Bagpacks held major market share based on product
type. On the basis of material type, the market is sub-segmented into
polyester, fabric, leather, and others.

Geographically
market is segmented into North America, Europe, Asia Pacific, and the Rest of
the World. Asia-Pacific is the fastest-growing region in the global luggage
& travel bags market. China, India, Japan are the major contributors to the
market growth. The presence of huge population base especially millennial and
increasing demand for fashion accessories among them is the significant factor
for the market growth. North America region is contributing high share to the
market growth. The advancement and adoption of technology such as IoT in
fashion accessories is attracting the customer base in the major economies such
as the US and Canada. 

The
key players in the luggage & travel bags market contribute significantly by
providing different types of products and increasing their geographical
presence across the globe. The key players of the market include Adidas AG,
Nike Inc., Samsonite International S.A., LVMH Group, and VIP Industries Ltd.
among others. These market players are adopting several market strategies
including product launch and approvals, merger and acquisition, partnership
collaboration, business, and capacity expansion, and others.

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Market Segmentation

Global Luggage & Travel Bags Market, By Product Type

•                
Duffle

•                
Trolley

•                
Backpacks

Global Luggage & Travel Bags Market, By Material Type

•                
Polyester

•                
Fabric

•                
Leather

•                
Others

Company Profiles           

•                
Ace Co. Ltd.

•                
Adidas AG

•                
Delsey SA.

•                
Deuter Sport GmbH

•                
Fenix Outdoor International AG

•                
Lowe Alpine Co.

•                
London Luggage Co.

•                
LVMH Group 

•                
Nike Inc.

•                
Osprey Europe Ltd.

•                
Rimowa GmbH

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