Luggage and Bags Market Revenue, COVID 19 Impact on Luggage and Bags Market: Ken Research

Increasing Convenience of Online Shopping Propels the Growth of Global Luggage and Bags Market Outlook: Ken Research

The worldwide luggage and bags market is obtaining the traction due to the convenience and comfort it delivers to the travelers throughout the travelling. Luggage and bag majorly comprise of cases, containers and bags which supports in holding the travelers’ articles while they are travelling. Over the duration the luggage and bags has transformed drastically. Previously, the luggage and bags were usually made of heavy materials or wood. However, with the effective growth in accessibility in air travelling, consumer preferences toward lightweight luggage and bags have also augmented. The passengers can conveniently carry this lightweight luggage and such bags can also comprise small possessions, clothing, toiletries and trip necessities.

The effective augment in travel and tourism has intensified the required for travel bags. Besides, augment in urbanization, variations in lifestyle, and demand for ground-breaking products such as polycarbonate luggage is further anticipated to impel the Global Luggage and Bags Market Growth Forecast throughout 2017 and 2023. The effective increment in purchasing power of middle-class households specifically in the developing regions is anticipated to create more requirement for premium and fashionable travel bags in the region. The development in technology such as expansion of smart luggage with GPS system tracker is also projected to inflate the growth of overall market throughout the forecast period (2017-2023).

Luggage and Bags Market Analysis predict that during the recent years, economic stability and the resultant increment in disposable incomes of the populace have led to growth of the travel & tourism industry in the region, with suggestively growing trends of domestic travel and family vacations over the weekends. The practical air fares for domestic travel have also led to snowballing traffic of business personnel in air transport, most notably around the U.S.

The short duration of such trips has led to the requirement for smaller and convenient travel goods, comprising bags, such as duffle bags, trolleys, and backpacks. The further growth of the travel industry in the region is anticipated to have momentous impacts on the growth of the travel bags market throughout the forecast duration. Based on product, the Luggage and Bag Market Segmentation has been categorized into casual bags, travel bags, and business bags. Among these, the travel bags category controlled the largest share during the market in 2014. The growing leisure and travel activities are booming the growth of the travel bags category in the market. The greatest market for travel bags during 2014 was Asia-Pacific (APAC).

The effective augment in customer inclination towards high-end luggage equipped with Global Positioning System (GPS) tracker, increasing the urbanization, and increasing disposable income are predicted to propel the luggage market over the anticipated years. The Global Luggage and bags Market report of Ken Research delivers a holistic evaluation of the market. The report suggests a comprehensive analysis of foremost segments, trends, drivers, restraints, competitive landscape, and aspects that are playing a considerable role in the market.

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Luggage and Bags Market Segmentation

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