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Global Demand Blowout, Travel And Light Easy To Carry To Dominate Emerging Markets
Sep 18, 2017

From 2017 to 2021, the annual composite growth rate of the global bag market will exceed 6%, according to the latest market research report by TechNavio.
TechNavio Brijesh Kumar Choubey, a leading analyst in retail goods and services, said: "Travel bags are a major contributor to the 2016 global luggage market, and during the forecast period, the category will continue to dominate, China, India, The demand for travel bags in emerging markets such as South Korea is strong. ”
The global luggage market is divided into the following three parts:
1. Global Travel and luggage market
From 2017 to 2021, the global travel and luggage market CAGR will grow by more than 7% annually. The products of travel luggage industry mainly include luggage box and hand luggage. Based on the use of materials, these products are divided into soft shell, shell and soft and hard mix and other types.
The demand for travel bags will grow during the forecast period, and one of the main reasons is the growing popularity of tourism, outdoor sports and exploration, especially in emerging countries. The growth of the global tourism industry has a great positive impact on the global luggage market.
2. Global Leisure and luggage market
Leisure bags, including backpacks, wheeled bags, by the high disposable income consumer groups and backpackers to promote consumption, the global leisure luggage market will continue to grow. Easy to carry, light and products made from new materials will be able to arouse consumers ' keen interest.
Brijesh said: "Granville Company (VF Corporation) and new Beauty (Samsonite) are the main retailers in the leisure and luggage market. There are also other retailers in the market who have introduced design and color-novel products to attract fashionable-minded consumers. ”
3. Global Business Luggage Market
2017-2021, the Global business bag market annual composite growth rate will reach 8%. Business bags are designed for enterprise personnel, this category product design caters to business people's special requirements, such as the need to place notebook computers, files and other things. Globalisation has allowed more and more people to travel, as most large companies have offices all over the world.
Although most consumers will still use ordinary travel bags on business trips, retailers are trying to change this, using special advertising and promotional campaigns to market products for business and corporate users.
According to the TechNavio report, the major retailers in the global luggage market are: Vuitton (Louis Vuitton), Rimowa, New Beauty, TD (TUMI) and Wei Fu Co.

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