Travel Luggage Market:
Travel luggage is used for storing clothes and other essentials while traveling to another place. The rising interest in exploring new places and going on vacations is presumed to boost the sales of travel luggage over the next couple of years. This assessment reveals that the global travel luggage market is poised to scale new heights in the years to come. The factors that are projected to propel market growth are also studied in the report, along with the assessment of the growth inhibitors. The market for travel luggage offers lucrative opportunities to the players. The competitive landscape of travel luggage market is characterized by the concentration of regional and international players. Robust competition is expected over the next few years.
The burgeoning tourism industry is the primary driver of the travel luggage market. An increasing number of travelers have led to a high demand for the product over the next few years. The rising income level is also anticipated to have a favorable impact on the expansion of the market in the foreseeable future. Urbanization has a developmental role to play in the proliferation of the market in the coming years. The governments over the world are also investing in the promotion of the tourism industry. The strengthening ties between nations to promote influx of tourists is also anticipated in the near future. These factors are prognosticated to drive the augmentation of the travel luggage market over the evaluation period.
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Key players are emphasizing on product innovation and development to attract a larger customer base. The production of innovative styled durable travel luggage is likely to proliferate the market in the foreseeable future. The introduction of durable material with high strength is expected to influence the market greatly. Also, the investments in advertisement are likely to increase on the manufacturers’ front. This, in turn, is prognosticated to support the expansion of the travel luggage market.
On the basis of price point, the travel luggage market has been segmented into Value & Mid-Level, Premium, and Luxury.
On the basis of distribution channel, the travel luggage market has been segmented into Specialty Stores, Departmental Stores, and Internet Sales & Others.
The regional segments of the global Travel Luggage market identified in this analysis are – North America, Europe, Asia Pacific, ROW (Rest of the World). Also, a country level analysis is covered in the report. Some of the key country-based travel luggage markets profiled are – U.S. Canada, Mexico, U.K., Germany, China, India, & Japan. Among the regions, Asia Pacific holds significant market share. The rising investments in the tourism industry are anticipated to drive the travel luggage market’s growth in the foreseeable future. India and China are expected to contribute to the market development in the region.
In November 2019, Woodcraft India has struck a deal for the manufacturing of rucksacks for the Indian Army.
In November 2019, an accessories brand, Kipling, has announced its plan of launching its pilot hard case luggage in 2020.
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