Overview:
Luggage and leather goods are categorized as products used to carry personal belongings. Luggage goods include casual bags, travel bags and business bags, whereas leather goods include handbags, footwear, wallets and belts across genders. In order to comply for increasing demand for luxurious travel goods, luggage and leather goods market is expected to witness significant growth in the next five to six years. Stabilizing economies, upgraded designs and consumer preference for luxurious products is fuelling the luggage and leather goods market growth worldwide. With changing consumer trends for fashion, luggage and leather goods manufacturers are designing products that are stylish, easy to handle, better quality and cost effective. This is in order to maintain a loyal customer base and lead towards robust market growth.
Some of the key factors fuelling the luggage and leather goods market growth include increased business or luxurious travel of people especially young population, benefits offered by airline companies, influence of fashion in teens, increasing disposable income of affluent middle class population. Luggage and leather goods manufacturers are focused on developing age-group related products, thereby capitalizing the demand among consumers. This is further supported by increased promotional activities by luggage manufacturers. Ion Consumers are aware of fashion trends across the globe majorly due to increased social media usage and thus increased consumer awareness. This is anticipated to enhance consumer inclination towards branded luggage and leather goods and will bolster the market growth globally. However, availability of products at low-cost hampers the market growth primarily for leather goods.
The global Luggage and Leather Goods market is segmented on the following bases:
Key Players Identified for Luggage and Leather Goods Market Include but are Not Limited to:
Samsonite International S.A., Hermes International S.A., Coach, Inc., Louis Vuitton, Christian Dior SE, Kering SA, Tumi Holding, Inc., Prada S.p.A. and VIP Industries Limited.
This report offers:
