Global Travel Luggage Market 2021-2026

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    GLOBAL TRAVEL LUGGAGE MARKET

     

    INTRODUCTION

    Baggage, often known as baggage, is a collection of bags, boxes, and containers that store a traveller’s personal belongings while the passenger is in transit. A modern traveller can be expected to carry clothing, toiletries, modest valuables, and trip needs.

     

    Travelers may have mementos and presents on the return trip. Some individuals believe that baggage, and the way in which it is carried, is a reflection of the owner’s wealth and position.

     

    Luggage is designed to protect goods during travel by using either a hard shell or a sturdy soft material. Internal partitions or portions are frequently used in luggage to help with the safeguarding of goods.

     

    Traveling with more than one suitcase is common in other modes of transportation, such as rail and bus. However, the laws and limitations are not as stringent as they are when travelling by plane.

     

    Business travellers are frequently seen with two bags, generally consisting of a wheeled cabin sized baggage and a smaller bag in which a laptop may be placed, referred to as a wheeled luggage and a secondary bag, respectively.

     

    These travellers frequently link their two bags by utilizing the secondary bag’s built-in pass-through panel, which is an additional piece of cloth that is pulled over the telescoping hand.

     

    Traditionally, baggage was composed of hefty materials like wood. However, as air travel has become more accessible, client demands for lightweight bags and luggage have risen. Passengers can simply transport these lightweight bags, which can also hold small items, clothing, travel essentials, and toiletries.

     

    infographic: Travel Luggage Market, Travel Luggage Market Size, Travel Luggage Market Trends, Travel Luggage Market Forecast, Travel Luggage Market Risks, Travel Luggage Market Report, Travel Luggage Market Share

     

    One of the key trends in the baggage business is the rising desire for ultra-lightweight bags. Customers benefit from lightweight baggage since it is simpler to carry and handle. Bags manufacturers are using raw materials such as polycarbonate resins to reduce the weight of their luggage.

     

     

    GLOBAL TRAVEL LUGGAGE MARKET DYNAMICS

    The changing lifestyle, the expanding travel and tourist industry, and the customer preference for high-end baggage are all expected to boost market growth.

     

    The increasing ease of online buying has resulted in a significant shift in customer preferences for purchasing travel bags and other baggage bags through e-commerce platforms such as Amazon and eBay. Due to increased business travel internationally and economic developments in developing economies, the business bags category is gaining considerable traction in the market analyzed.

     

    The wide availability of cheaper substitutes/counterfeit items as opposed to branded ones in Asia-Pacific and Latin America is a hindrance. The rise in demand for baggage bags is directly proportionate to the expansion of the travel and tourism sector.

     

    The worldwide travel and tourism sector has grown significantly in recent years. Tourism is currently one of the world’s fastest growing and most diverse industries. Outbound tourism is strong in China, the United States, South Korea, Brazil, the Netherlands, Spain, Germany, and the United Kingdom.

     

    Furthermore, in recent years, the baby boomer segment’s leisure travel expenditure has been quickly growing, which has helped the market’s growth.

     

    In addition to these factors, increased consumer spending on smart and luxury baggage, rising consumer desire for branded luggage, and rising demand for casual bags such as wheeled duffel bags, female and male shoulder bags, and backpacks are projected to drive the worldwide luggage market.

     

    infographic: Travel Luggage Market, Travel Luggage Market Size, Travel Luggage Market Trends, Travel Luggage Market Forecast, Travel Luggage Market Risks, Travel Luggage Market Report, Travel Luggage Market Share

     

    The use of fashionable premium office bags, casual bags, and other sorts of bags is also expected to propel the global baggage industry. As a result of the fast creation of luggage manufacturers in the area, Asia Pacific is projected to lead the worldwide baggage industry.

     

    Increasing spending on living standards and travel, rising demand for high-quality baggage, and increased usage of office and sports luggage.

     

    Sr. No. Timeline Company Update
    1 December 2021 LVMH LVMH acquired Marcolin’s 49% stake in eyewear joint company Thélios which was created in 2017 as a joint venture between LVMH and Marcolin.
    2 February 2021 Nike NIKE, Inc. acquired Datalogue, a leading data integration platform start-up based in New York, to enable its consumer-led digital transformation.
    3 January 2021 LVMH French luxury giant LVMH acquired iconic American jeweller Tiffany for $16.2 billion. The acquisition was the biggest-ever deal for the French group owned by Bernard Arnault.
    4 October 2016 LVMH LVMH acquired 80 per cent stake in German high-tech luggage manufacturer Rimowa for 716 million dollars, as it continues to diversify its portfolio. This marked LVMH’s first acquisition in Germany.

     

    GLOBAL TRAVEL LUGGAGE MARKET SEGMENTATION

    The Global Travel Luggage Market can be segmented into following categories for further analysis.

    Travel Luggage Market By Infrastructure Type

    • Smart Luggage
    • Traditional Luggage
    • Metallic Luggage
    • Basic Luggage

     

    Travel Luggage Market By Segment of Luggage Type

    • Casual Luggage
    • Travel Luggage
    • Business Luggage
    • Sports Luggage

     

    Travel Luggage Market By Regional Classification

    • Asia Pacific Region – APAC
    • Middle East and Gulf Region
    • Africa Region
    • North America Region
    • Europe Region
    • Latin America and Caribbean Region
    • Sweden

     

    RECENT TECHNOLOGICAL TRENDS IN GLOBAL TRAVEL LUGGAGE MARKET

    Luggage has evolved throughout the years. Historically, chests or trunks constructed of wood or other heavy materials were the most prevalent forms of baggage. Professional movers would transport these.

     

    Since the Second World War, smaller and lighter suitcases and bags that can be carried by one person have become the most common type of baggage. Smart luggage is luggage that includes a built-in or detachable battery.

     

    Smart baggage has a battery and circuit board to keep your electronics charged on lengthy travels. You may also remotely track your bags and protect yourself from identity theft. Although this seems fantastic, there are a couple drawbacks to utilising smart baggage.

     

    Smart baggage is typically hard-shelled and can include any combination of these characteristics. It facilitates travel by allowing you to charge your mobile devices, activate TSA-approved locks from your smartphone, weigh the luggage by picking it up, and monitor it based on proximity and GPS position.

     

    These bags even include solar charging capabilities, RFID-blocking lining to protect against identity theft, and portable Wi-Fi hotspots. The emergency assertiveness is continually improvised by using the Bluetooth based frequency adjustments, wherein to identify connectivity between smartphone and bag, a Bluetooth Module HC05 with an operating frequency of 2.4 GHz is utilised.

     

    The Bluetooth module and the RF-ID Reader both send data to the microcontroller. When the victim presses the emergency button on the bag’s handle, the microcontroller is actuated, triggering the buzzer.

     

    The Bluetooth module, which is serially interfaced with the microcontroller, communicates wirelessly with the mobile phone to determine the victim’s location using the mobile phone’s GPS and to send SMS to emergency contacts.

     

    Sr. No. Timeline Company Update
    1 June 2021 Kabuto Kabuto launched Kabuto Trunk, a smart suitcase with expandable backpack and a fingerprint reader to save up to 10 fingerprints.
    2 January 2020 Samsara Luggage Inc. Samsara Luggage launched its online pre-sale for their next generation of smart carry-on suitcases with Wi-Fi Hotspot capabilities for $199 without the Hotspot feature or $279 with it, making Samsara the first to market this innovative technology.
    3 August 2019 Samsonite and Panasonic Samsonite and Panasonic strategically partnered to launch an IoT enabled, new generation travel suitcase that intelligently interacts with the consumer. As part of the partnership, Samsonite’s new product EVOA Tech will now include Panasonic’s Seekit Bluetooth Tracker that will enable customers to tag and track their luggage.
    4 August 2019 Delsey Delsey Paris  launched Delsey Planet with two main focuses: reducing pollution from plastic waste and supporting sustainable tourism.
    5 April 2018 LVMH Sigfox and Louis Vuitton announced the release of a luggage tracker that uses Sigfox technology allowing passengers to track their checked luggage in major airports, even while travelling between different countries.

     

    infographic: Travel Luggage Market, Travel Luggage Market Size, Travel Luggage Market Trends, Travel Luggage Market Forecast, Travel Luggage Market Risks, Travel Luggage Market Report, Travel Luggage Market Share

     

     

    GLOBAL TRAVEL LUGGAGE MARKET RECENT PRODUCT LAUNCH

     

    To capitalise on this growth, Away is introducing a new kind of luggage. The business has recently started selling a line of outdoor gear called For All Routes that includes water-resistant duffel bags, convertible backpacks, and messenger bags made for road trips and treks.

     

    This introduction, according to Away, is the next step in the development of its brand. This new collection gives Away an opportunity to re-introduce itself to customers in a post-epidemic world after a damaging exposé about the brand’s poisonous culture and months of low sales when the pandemic hit.

     

    When Away first came out, its hardshell bag quickly established itself as a staple on Instagram thanks to traveller photos of their belongings. According to the chief design officer of Away, the suitcase continues to be the company’s best-selling item and will likely remain its main source of revenue.

     

    However, the suitcase and its complementary items, such as the carry-on duffel and tote bags with trolley sleeves, were largely made for air travel, especially for those who frequently took business trips. Away’s internal research shows that half of tourists anticipate changing their travel habits after the epidemic because they want to spend more time outside and in nature.

     

    This might be the result of people changing their travel behaviours during the epidemic, when socially remote outdoor adventures like camping and road vacations were safer than flying. This new line was created for these situations by Hanly’s team.

     

    With this collection, Away intends to attract a different type of customer while simultaneously offering current customers brand-new items to purchase.

     

    TRAVEL LUGGAGE MARKET COMPETITIVE LANDSCAPE

    With new advancements and the accessibility of air travel, the worldwide baggage industry has updated itself by producing compact lightweight, colourful, and fashionable bags that cater to the varied demands of the passengers. The burgeoning travel and tourism sector, population movement, and rising disposable income are all fuelling the growth rate.

     

    As market important trends, discount selling, comfort, bag replacement, and choice through e-commerce have been highlighted. People are travelling more as their disposable incomes increase. This has created new opportunities for market participants.

     

    Samsonite International has most recently brough in various technologies and innovations which involves high scale usage of fingerprint-based access and RFID Tags. Samsonite has started the phased rollout of its connected trolley bag, Evoa Tech which has the TSA approved fingerprint lock system adds an extra layer of security to the 3-digit dial lock system.

     

    It can record up to 10 fingerprints, allowing multiple people in the family to use it from time to time. A Bluetooth tracker based on Panasonic Seekit technology is among the connection features.

     

    If the bag is misplaced or stolen, the tracker will allow users to monitor it on their smartphone using the Seekit app. It also works the other way around and can assist consumers in tracking their smartphones.

     

    The app’s proximity guiding function will direct users to the bag. It is incorporated into the bag’s side handle, and the weight may be checked by lifting the bag from the side.

     

    The luggage’s weight (in kilograms) will be displayed on the display next to the side handle. This function is included to make users aware so that they can keep the bag’s weight under control and avoid charges for excess weight at airports.

     

    In the worldwide scale of the market, LVMH or Louis Vuitton is part of the much bigger luxury baggage bag advancements. Louis Vuitton has introduced versions of two of their monogram purses with built-in flexible OLED digital displays.

     

    The Canvas of the Future bags are constructed of the traditional Louis Vuitton monogram pattern PVC-coated canvas in brown and cream, with black patent leather, and have functional video displays on the sides.

     

    The flexible displays with a resolution of 1920 x 1440 are manufactured with OLED technology, which stands for organic light-emitting diode. It is a lighting technique capable of producing incredibly thin and flexible light panels without the need of baffles.

     

    Sr. No. Timeline Company Sales
    1 Q2-2021 LVMH LVMH recorded second-quarter revenue of $17.5 billion USD which is roughly 14 percent higher than numbers reported in the same-period two years ago, prior to the pandemic. Apart from success of its most profitable label, Louis Vuitton, along with top-shelf brands Dior, Fendi, Loewe and Celine, the acquisition of Tiffany earlier this year also played a role.
    2 Q2-2021 Adidas Adidas’ second quarter revenue grew 51% growth or more than 1.7 billion euros to 5.077 billion euros. It reported currency-neutral sales growth of 55 percent and expects sales to increase by up to 20% and net income to reach as much as $1.77 billion in fiscal 2021.
    3 Q2-2021 Safari  Industries Ltd For the second quarter, Safari Industries reported sales of INR 1,885.95 million compared to INR 629.44 million a year ago. Revenue was INR 1,905.99 million compared to INR 636.57 million a year ago.
    4 Q2-2021 V.I.P. Industries V.I.P Industries reported Net profit of INR 185.4 million compared to net loss of INR 353.9 million a year ago. Sales rose 221.35% to INR 330.06 crore in the quarter ended September 2021 as against INR 102.71 crore during the previous quarter ended September 2020
    5 Q2-2021 Hermès International The Group’s consolidated revenue amounted to €6,602 million at the end of September 2021, up 57% at constant exchange rates compared to the same period in 2020.  In the third quarter, the Group’s consolidated revenue reached €2,367 million. Sales growth was outstanding at 31% at constant exchange rates compared to 2020. The activity benefited from an upturn in sales in Europe, an acceleration in America and a sustained dynamic in Asia.

     

    TRAVEL LUGGAGE MARKET COMPANIES PROFILED

     

    THIS TRAVEL LUGGAGE MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

    1. Travel Luggage Market size and Forecast, by region, by application
    2. Average B-2-B price for Travel Luggage Market, by region, per user
    3. Technology trends and related opportunity for new Travel Luggage Market tech suppliers
    4. Travel Luggage Market share of leading vendors, by region,
    5. Coronavirus impact on Travel Luggage Market earnings
    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2021-2026
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2021-2026
    19 Market Segmentation, Dynamics and Forecast by Application, 2021-2026
    20 Market Segmentation, Dynamics and Forecast by End use, 2021-2026
    21 Product installation rate by OEM, 2021
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2021
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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