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 with the increasing demand for luxurious travel goods, the luggage and leather goods market are expected to witness significant growth in the next five to six years.
Stabilizing economies, upgrading designs, and consumer preference for luxurious products are fueling the luggage and leather goods market's 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 to robust market growth.
Some of the key factors fueling the luggage and leather goods market's growth include increased business or luxurious travel by people, especially the young population; benefits offered by airline companies; the influence of fashion on teens; and the increasing disposable income of the affluent middle-class population. Luggage and leather goods manufacturers are focused on developing age-group-related products, thereby capitalizing on 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, mostly 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 market growth globally. However, the availability of low-cost products hampers market growth, primarily for leather goods.
The global luggage and leather goods market is segmented on the following basis:
By Product Type
Luggage
Business Bags
Casual Bags
Travel Bags
By Leather Goods
Handbags
Purses, wallets, and belts
Footwear
Other Goods
By End User
Men
Women
Unisex
By Distribution Channel
Retail Stores
Online Stores
By Geography
North America
US
Canada
Europe
UK
Germany
Rest of Europe
Asia-Pacific
Japan
China
Rest of APAC
Latin America
Middle East and Africa
Key players identified for the 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 the following:
An overview of the global markets for luggage and leather goods
Market trends assessment for the period 2013-2023, with historical information for 2013 and 2014 and projections through 2023, with respective CAGRs during 2016 and 2023
Qualitative assessment tools such as market drivers, challenges, and future prospects for luggage and leather goods
Market competition scrutiny tools such as market share analysis, fractal map assessment, and attractive investment proposition
Focus on each level of market segmentation based on product approvals, launches, and current and anticipated market dynamics.
A general overview of the industry structure
Company profiles, highlighting key information about the major players operating in the luggage and leather goods market,
Frequently Asked Questions:
The market for Luggage and Leather Goods Market is expected to reach US$ XX Bn by 2023.
The Luggage and Leather Goods Market is expected to see significant CAGR growth over the coming years, at XX.
The report is forecasted from 2016-2023.
The base year of this report is 2015.
Samsonite International S.A., Hermes International S.A., Coach, Inc., Louis Vuitton, Christian Dior SE, Kering SA, Tumi Holding, Inc., Prada S.p.A. are some of the major players in the global market.
