The global luggage & travel bags market is anticipated to grow at a CAGR of around 6.4% during the forecast period (2021-2027). The global luggage & travel bags market growth is driven by the increasing travel and tourism industry in major economies globally, rising demand for premium and quality products by consumers, and new product launches by the major players operating in the market.
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The major players such as Adidas AG, Delsey SA,Nike Inc., Louis Vuitton, Samsonite International S.A., and others are coming up with a variety of luggage & travel bagsin order to fulfill the rising demand of the customer. In addition, these players are also focusing on expanding their product portfolios to offer a range of options to end-users and strengthen their position in the global luggage & travel bags market. For instance, in April 2019, Louis Vuitton had launched Horizon Soft, a new line of innovative rolling luggage created in collaboration with designer Marc Newson.
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Moreover, in August 2018, Portronics, a provider of smart backpacks, added the POR 929 smart backpack to its existing Elements series of smart backpacks. Furthermore, the collaborations among market players are further expected to drive market growth. For instance, in September 2019, Samsonite International S.A. collaborated with Panasonic to Launch IoT-enabled new generation travel luggage “Seekit” with a Bluetooth tracker that intelligently interacts with the consumer.
Competitive Landscape- Adidas AG, Nike Inc., Samsonite International S.A., LVMH Group, and VIP Industries Ltd., among others.
Global Luggage & Travel Bags Market Report Segment
· TrolleyBags
· Backpacks Bags
By Material Type
· Polyester
· Fabric
· Leather
· Others
By Region
· North America
· Europe
· Asia-Pacific
· Rest of the World
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
· Samsonite International S.A.
· Travelpro Products, Inc.,
· United States Luggage Co, LLC
· Victorinox Co.
· VIP Industries Ltd.
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