Luggage Market Will Reach USD 75.3 Billion By 2026
According to the report, The global luggage market in 2019 was approximately USD 52.7 billion. The market is expected to grow at a CAGR of 5.2% and is anticipated to reach around USD 75.3 billion by 2026.
Luggage is used during domestic and international traveling by any means of transport to carry personal belongings. In the early days, the luggage was made using wood, metal, or other heavy materials. However, the market has shown exceptional technological advancement and the luggage now comes in lightweight and durable materials. The luggage now comes with wheelbase and collapsible characteristics with a variety of smart functions to provide ease and convenience to people during traveling.
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The luggage market research report delivers an acute valuation and taxonomy of the luggage industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the luggage industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the luggage industry is provided for the leading economies of the world.
The luggage market is segmented based on type and distribution channels. On the basis of type segmentation, the market is classified into travel luggage, casual luggage, business luggage, sports luggage, and others. In terms of distribution channel segmentation, the market is bifurcated into a specialist retailers, factory outlets, internet sales, and others.
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Some of the essential players operating in the luggage market, but not restricted to include LVMH Moet Hennessy Louis Vuitton SE, VIP Industries Limited, VF Corporation, MCM Worldwide, Antler Ltd., Delsey S.A, Etienne Aigner AG, Kipling North America, Travelpro Products Inc., Adidas AG, Samsonite International SA, Nike Inc., United States Luggage Company LLC, ACE Luggage Co. Ltd, Bric`s Industria Valigeria Fine SPA, Eagle Creek Inc., JanSport Inc., Targus, Travelpro Products Inc., and others.
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