Luggage, also known as baggage consists of a suitcase or a bag used to pack and carry possessions while traveling. The main function of luggage is to protect essentials carried within it, therefore, it is made either by hard material or durable soft material. The luggage made up of heavy material such as wooden trunks or chests was used in the earlier times but with the progression in technology, the lighter material luggage has gained importance. Luggage is constructed with multiple internal subdivisions and sections for securing the essentials. The most common form of luggage is the trunk, suitcase, train case, garment bags, tote bag, duffle bag, carpet bag, packing cubes, gate check bags, and others. The features such as durable wheels, high-security locks, expandable space, GPS tracking, USB ports, and others have presented the development of the luggage market. The material used for constructing luggage generally includes polycarbonate, aluminum, polypropylene, polyester, leather, ballistic nylon, cordula nylon, acrylonitrile-butadiene-styrene (ABS), canvas, polyvinyl chloride (PVC) and others.
COVID-19 Scenario Analysis:
- The luggage market has faced a decline in demand and sales due to the travel restrictions being implemented by several countries. The inclination of customers has shifted more towards the essential food items rather than luxury products.
- The transportation restrictions caused by the COVID-19 pandemic have disrupted the domestic supply chain, as well as the export and import bans implemented in various countries, which has caused the loss of market share.
- The luggage industries have faced a decline in raw material procurement due to the lockdown scenario which in turn has impacted the final production.
- Initially, the shutdown of manufacturing units and shortage of manpower has declined the production of the luggage market.
- The distribution channels of luggage such as specialty stores and retail stores have been shut down to prevent the mass gathering, which has impacted the sales and revenue of the luggage market.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Luggage has been used from the olden times to transport essential items. A suitcase is the form of luggage which is most widely used and has undergone several advancements to form smart trolley bags. The automated featured luggage has created a new trend in the luggage market. Increase in travel and tourism, luggage as a basic necessity for Z generation, smart luggage as a luxury product, lightweight luggage, ease of handling of luggage, expandable spacing system, increase in awareness about the new product, investment in technology and automation, new product development, improvement in exiting product, expansion of product line, variants in color and design of a luggage, changing fashion and trend, availability of luggage for different requirements, improved product life, e-commerce, social media marketing, celebrity endorsement, incorporation of automated technology in the luggage, multi-functional luggage bags, improvement in the raw material, surge in acquisitions and partnerships, increase in trade, enhancement in the security system of luggage, battery enabled luggage, smart backpacks, sports luggage, business luggage, and high disposable income are the key drivers which lead the growth of global luggage market. However, the expensive luggage, availability of alternative luggage bags, increased competition, the harmful effect of plastic luggage on the environment, inclination towards the mainstream, and unorganized luggage sector hinders the market growth.
The global luggage market trends are as follows:
The innovation of smart luggage
The key payers of the luggage market are inclined towards launching new technology luggage bags and create a new trend. The casual luggage, travel luggage, business luggage, sports luggage, foldable bags, anti-theft luggage, laptop bags, duffel bags, and others are being launched in several capacities and designs leading to further development of the luggage market. Wheeled luggage was first patented in 1972 by Bernard Sadow and the first commercial wheeled luggage known as Rollaboard was introduced in 1987 by Travelpro, since then the evolution has occurred in luggage market.
The smart luggage consists of features such as digital locking system through a smartphone, GPS tracking system, USB port for charging devices, incorporated removable battery, LED light system, smartphone, and Bluetooth connectivity, alert system, increased compartments for a specific item, 360-degree wheels, telescoping handle, foldable bag, multi-purpose bag, water-resistant material, convertible kick-style scooter luggage, convertible seat luggage, luggage box, replacement of zippers by locks and others. The smart luggage has presented the pathway of advancement in exiting products.
Key Benefits of the Report:
- This study presents the analytical depiction of the global luggage industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global luggage market share.
- The current market is quantitatively analyzed to highlight the global luggage market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed global luggage market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Luggage Market Research Report:
- What are the leading market players active in the luggage market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Luggage Market Report Highlights
By Distribution Channel
Key Market Players
Nike Inc., Piramal Group, Adidas AG, Sungjoo Group, Strandbags Group Pty Ltd., Samsonite International S.A, ACE Co. Ltd., Tapestry, United States Luggage Company LLC, Travelpro Products Inc., Victorinox Swiss Army, Bric'sIndustriaValigeria Fine SpA, Goyard, Delsey, Louis Vuitton, Etienne Aigner AG., VF Corporation