Luggage can be described as bags or other objects that people use to store and transport their belongings safely. There are various types of luggages available such as plastic bags, jute bags, leather bags, backpacks, suitcases, among others. In terms of new brands and styles, the baggage market is expanding, giving consumers more alternatives than ever before.
Three types of luggage are included in the report: casual bags, travel bags and business bags. The global luggage market is likely to reach US$25.55 billion in 2023, witnessing growth at a CAGR of 7.48% during the forecasted year.

Segment Covered:

• By Luggage Type: On the basis of luggage type, the report identifies three segments of the global luggage market: Casual Bags, Travel Bags and Business Bags. Casual bags segment lead the market, accounted for the majority of share in the market, because of rising attention towards fashion sense among the young population. The travel bags market is expected to grow at the highest CAGR, due a surge in the air traffic across the world, which is supported by the growth of the travel and tourism industry. Rising travel and tourism would increase the demand for travel bags.

Analysis of Key Players:

The global luggage market is fragmented. However, the market share of organized players has increased significantly over the last few years and is expected to continue given the wide product offerings, better service and higher brand visibility. The key players of the global luggage market are:
• VIP Industries Limited
• LVMH Group
• Samsonite International S.A.
• PVH Corp. (Tommy Hilfiger)
• VF Corporation
• United States Luggage Company LLC. (Briggs & Riley)
• Safari Industries (India) Ltd
• Travelpro
• Victorinox International
• Delsey
Semsonite International S.A. is more diverse in terms of regions and brands. VIP Industries Limited and Safari Industries (India) Ltd operate mostly in India. In India VIP Industries Limited dominated the market, followed by Samsonite India and Safari Industries (India) Ltd.
The COVID-19 Analysis:
The COVID-19 pandemic, travel restrictions, national and local lockdowns have impacted many countries across the world. Like many other industries the global luggage industry also experienced a slowdown, especially during the first half of 2020. During the lockdown, the operations of numerous industries were temporarily halted or was functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global luggage market is no different, and this factor impacted the supply chain and that led to high cost associated with branded luggage.

For more Information:


https://www.konceptanalytics.com/report/transportation-logistics/global-luggage-market-by-luggage-type-casual-bags-travel-bags-and-business-bags-region-insights-forecast-with-potential-impact-of-covid-19-2022-2026

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