Kenneth Research recently added a report on ‘Luggage Market’ in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Luggage Market, along with the compound growth rate (CAGR) of the market for a projected period between 2022 and 2031. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Luggage Market products.
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According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of Global Luggage Bag Market. The report analyzes the global luggage market by Product (Business Bags, Casual Bags, Travel Bags), By Distribution Channel (Specialty Stores, Departmental Stores, Hyper Markets & Supermarkets, Internet Sales, Others – Club Retailers, Direct Seller and Small Independent Retailers), By Price Segments (Value & Mid-Level, Premium, Luxury). The report assesses the luggage market by Region (North America, Europe, Asia Pacific, ROW) and By Country (United States, Canada, United Kingdom, Germany, France, China, India, Japan).
According to Azoth Analytics research report “Global Luggage Market – Analysis By Product Type (Travel, Casual, Business), Price Segment, Distribution channel, By Region, By Country (2018 Edition): World Market Review and Forecast to 2023”, global market is projected to display modest growth represented by a CAGR of 6.72% during 2018 – 2023, on account of factors such as growing number of business and industry, rise in disposable income, large number of new players entering into the market with new product launch equipped with add-on features. Moreover, emerging markets have shown remarkable growth in the recent years and this is anticipated to propel the demand for Luggage Bag in the future.
In terms of segmentation, the market is categorized into product segments including Business, Casual and Travel. In terms of region, North America has become a saturated market with maximum market share in United States, while APAC region has a lot more growth opportunities accompanied with huge growth potential in the Indian and Japanese market. The global Luggage Bag market is driven by Increase in disposable income at the hands of consumers. The rising disposable income and living standards result in an increased demand for comfort and luxury. With more disposable income people are more likely to switch to good quality products from ordinary products. Moreover, the market is dominated by unorganized players with low priced products, but with the increasing disposable income people are expected to spend more on quality luggage products for travel.
The report titled “Global Luggage Market – Analysis By Product Type (Travel, Casual, Business), Price Segment, Distribution channel, By Region, By Country (2018 Edition): World Market Review and Forecast to 2023 – By Distribution Channel (Specialty Stores, Departmental Stores, Hyper Markets & Supermarkets, Internet Sales, Others – Club Retailers, Direct Seller and Small Independent Retailers), By Price Segments (Value & Mid-Level, Premium, Luxury), By Region (North America, Europe, Asia Pacific, ROW), By Country (United States, Canada, United Kingdom, Germany, France, China, India, Japan) has covered and analysed the potential of global Luggage market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the global luggage market. Aditionally, the report also highlights market entry strategies for various companies across the globe.
Global Luggage Market (Actual Period: 2013-2017, Forecast Period: 2018-2023)
• Global Luggage Market – Size, Growth, Forecast
• Global Luggage Market By Product (Business, Casual, Travel)
• By Distribution Channel (Specialty Stores, Departmental Stores, Hyper Markets & Supermarkets, Internet Sales, Others – Club Retailers, Direct Seller and Small Independent Retailers)
• By Price Segments (Value & Mid-Level, Premium, Luxury)
Regional Markets – North America, Europe, Asia Pacific, ROW
(Actual Period: 2013-2017, Forecast Period: 2018-2023)
• Luggage Market – Size, Growth, Forecast
• Luggage Market By Product (Business, Casual, Travel)
• By Distribution Channel (Specialty Stores, Departmental Stores, Hyper Markets & Supermarkets, Internet Sales, Others – Club Retailers, Direct Seller and Small Independent Retailers)
• By Price Segments (Value & Mid-Level, Premium, Luxury)
Country Analysis – United States, Canada, United Kingdom, Germany, France, China, India, Japan (Actual Period: 2013-2017, Forecast Period: 2018-2023)
• Luggage Market – Size, Growth, Forecast
• Luggage Market By Product (Business, Casual, Travel)
• By Distribution Channel (Specialty Stores, Departmental Stores, Hyper Markets & Supermarkets, Internet Sales, Others – Club Retailers, Direct Seller and Small Independent Retailers)
• By Price Segments (Value & Mid-Level, Premium, Luxury)
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Other Report Highlights
• Market Dynamics – Trends, Drivers, Restraints
• Porter Five Force Analysis
• SWOT Analysis
• Policy and Regulation
• Company Analysis – Samsonite International S.A, RIMOVA, Briggs and Riley TravelWare, VIP industries Ltd, VF Corporation, DELSEY, Fox Luggage Inc.
• Company Share Analysis
Customization of the Report
The report could be customized according to the client’s specific research requirements. No additional cost will be required to pay for limited additional research.
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