Global Luggage Market 2016-2020 Key Trends, Size, Growth, Shares and Forecast Research Report

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Technavios research analyst expects the global luggage market to expand at a steady growth, posting a CAGR of almost 6% between 2016 and 2020. Today, luggage and related luggage products are not just useful products, but they are also considered as fashionable accessories to enhance a travelers comfort and convenience. The burgeoning rise in the travel industry worldwide during the last few years is one of the major drivers triggering the growth of the market. Many countries are offering their continuous support to develop the travel industry, as travel and tourism contributes considerably to a country's GDP.

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The year 2015 witnessed the dominance of the APAC region in the luggage market globally with a market share of more than 42%. With its large population base, the region promises to be a growing market for the travel and tourism industry and is envisaged to continue its dominance during the forecast period. The APAC region is followed by North America and Europe.

Product segmentation and analysis of the global luggage market

Travel bags

Casual bags

Business bags

In 2015, the travel bags segment occupied the majority of the market share with nearly 44% share of the overall market, and this trend is expected to continue until 2020. One of the main reasons driving the growth of this segment is the increasing popularity of tourism, outdoor sports, and adventure tours, especially in emerging nations.

Segmentation by retail type and analysis of the luggage market

Specialist retailers

Department stores

Hypermarkets

Online stores

Club retailers

Other (including direct sellers and small independent retailers)

In 2015, specialty retailers dominated the luggage market, accounting for a market share of more than 30%. Specialty...