Dublin, May 28, 2020 (GLOBE NEWSWIRE) -- The "Luggage - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis and the looming economic recession, the Luggage market worldwide will grow by a projected US$23.9 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 5.2%. Casual/Regular Use Bags, one of the segments analyzed and sized in this study, is forecast to grow at over 5.1% and reach a market size of US$38.9 Billion by the end of the analysis period.
The global analysis and forecast periods covered are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Casual/Regular Use Bags market will be reset to a new normal which going forward in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 4.2% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$716.6 Million to the region's size over the next 7 to 8 years. In addition, over US$717.4 Million worth of projected demand in the region will come from Rest of the European markets. In Japan, the Casual/Regular Use Bags segment will reach a market size of US$1.9 Billion by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Luggage market.
Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 8.7% over the next couple of years and add approximately US$6.4 Billion in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Luggage market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- A Prelude
- Recent Market Activity
- Market Fortunes Intrinsically Tied to the Travel & Leisure Industry
- Emerging Trends and Future Prospects for Luggage Market
- Introduction of Smart Suitcases Fuel Growth for Luggage Manufacturers
- Global Outlook
- Increasing Air Travel and Innovative Designs Propel Luggage and Bags Demand
- Economic Recession in Retrospect - Market Recovers in Sync with Revival in Travel & Leisure Activity
- Global Competitor Market Shares
- Luggage Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
- Ace Co., Ltd. (Japan)
- Antler Ltd. (UK)
- Bric's Industria Valigeria Fine SPA (Italy)
- Delsey S.A (France)
- Etienne Aigner AG (Germany)
- Luggage America Inc. (USA)
- LVMH Mot Hennessy Louis Vuitton (France)
- Nike, Inc. (USA)
- Samsonite International S.A. (Luxembourg)
- Targus (USA)
- Travelpro Products, Inc. (USA)
- V.F. Corporation (USA)
- Eagle Creek, Inc. (USA)
- JanSport, Inc. (USA)
- Kipling North America (USA)
- Valigeria Roncato (Italy)
- VIP Industries Ltd. (India)
3. MARKET TRENDS & DRIVERS
- Robust Increase in Tourist Traffic and Air-Travel Worldwide: A Strong Growth Driver
- Developing Countries Spearhead Current and Future Market Growth
- Favorable Economic and Demographic Trends Strengthen Market Prospects
- Rising Household Disposable Incomes Drives Consumer Spending on Luggage
- Expanding Middle Class Population Worldwide Fuel Market Expansion
- Rapid Urbanization Spurs Growth in Passenger Traffic
- Increasing Number of Ultra High Net Worth Individuals (UHNWIs) and HNWIs Fuel Demand for Premium Luggage
- Opportunity Indicators
- Rise in International Migration Bodes Well for the Market
- Online Sales Revolutionizes the Luggage Retailing Landscape
- Select Online Luggage Vendors
- Luggage Increasingly Perceived as a Fashion Accessory
- Luxury Luggage Brands Target Female Consumers
- Consumption of Stylish Men's Bags on the Rise
- New Lightweight Tough Materials Revive Demand for Hard-side Cases
- Backpack Trend Cuts Across All Consumer Categories
- Backpacks Remain the Popular Choice of Student Community
- Evolution of Bags and Suitcases that Meet Stringent Airline Baggage Laws
- High Airline Baggage Costs Ramp up Demand for Light-Weight Luggage
- Demand for Small Carry-On Bags on the Rise
- New Baggage Policies Promote Demand for Luggage-Courier Services
- Noteworthy Trends
- Low Entry Barriers Intensifies Competition
- Crude Oil and Commodity Price Dip Eases Production Costs
- Geographic Concentration of Production Facilities Elevates Risk Disruptions in Supply Chain
- Currency Volatility Impacts Luggage Trade
- Lengthy Consumer Purchase Cycles Weakens Sales Momentum
- Trade Down and Trade Up Strategy of Leading Companies
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
Total Companies Profiled: 283
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