Global Luggage Market to Surpass US$ 67.19 Billion by 2025

Posted by Pareesh on June 11th, 2018

Global Luggage market was valued at US$ 33.28 billion in 2016 and is expected to reach US$ 67.19 billion by 2025, witnessing a CAGR of 8.45% over the forecast period (2017–2025), according to Luggage Market Report, by Product Type (Casual Bag, Travel Bag, Business Bag, and Others) and by Distribution Channel (Supermarkets, Hypermarkets, Online Stores, Specialty Stores, and Others). Increasing penetration of online sales channels, in turn allows for easy purchase of luggage online, which in turn is fuelling growth of the global luggage market. According to European Commission, around 65% of Europeans used internet ordered or bought goods and services online in 2015. Availability of wide variety of luggage such as luggage with tracking system, automated locking systems, and smart phone connectivity along with launch of new products are some of the factors propelling growth of the global luggage market.  For instance, in September 2016, Bugaboo International B.V. launched Bugaboo Boxer, a luggage system with innovative features such as light push steering and interlocking cases.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/luggage-market-1436 

Browse 772 pages, 300 market data tables* and 90 figures* on "Luggage Market” - Global forecast to 2025.

According to Coherent Market Insights study, Asia Pacific accounted for highest revenue share of 42.58% in 2016. This is attributed to the increase in travelling for leisure or business in this region. According to the Japan National Tourism Organization, number of people who visited abroad in Japan in 2015 was approximately 6.2 million which increased to 17.1 million in 2016. . Furthermore, growing presence by key players is also playing a key role in driving the market. For instance, Coach Inc, one of the key players in the market entered the Indian market in 2017 and plans to open new stores in the upcoming years Also, in December 2014, Hartman, a manufacturer of premium luggage’s entered the Indian market.

 

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Pareesh
Joined: May 31st, 2017
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