Suitcase Market: Global Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Suitcase Market by Product Type (Travel bags (Trolley & Duffle Bags, Backpacks, Lifestyle Bags, and Garment Bags), Business Cases (Briefcases, Business Backpacks, and Attache Cases) and Others (Causal bags, etc.)), By Distribution Channel (Wholesale & Specialty Stores, Hypermarkets, Supermarkets, Online Stores, and Others (Factory Outlets, etc.)), by Price range (Mid-Range, Low Range, and Premium Range), by Category (Soft Side and Hard Side) and Geography

 

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Report

Description

The suitcase market is valued at USD 21 billion in 2021 and is poised to grow at a significant CAGR of 6.8% over 2022–2028. Rising urbanization, rising disposable income, and rising customer preference for high-end baggage with GPS trackers are anticipated to boost the market during the anticipated years. In practically every field of endeavour, a new revolution is anticipated as globalization strikes the world with a technological touch. The need for suitcase bags and other travel items has increased over the past few years, and this is anticipated to continue as a critical shifting trend. Traveling is now more accessible and affordable than it has ever been. The suitcase sector is not the one to miss out on this, as sustainability is currently driving practically all industries. For instance, Horizn Studios recently revealed its new line of upscale baggage to provide more sustainable and environmentally friendly goods. For tourists concerned about ethics, there is a new kind of baggage called Circle One that is made entirely of plants and decomposable. The company has also stopped using single-use plastics in its packaging and is concentrating on using cardboard and recyclable materials instead. In addition to the industry’s advancements driven by such admirable environmental goals, there is a rise in coalitions and partnerships to fulfill the needs of the travel industry’s expanding competitive environment. For instance, Go Travel and Case have collaborated, and Go Travel’s accessories are now on display in the Case store at London’s Heathrow airport, ready to take center stage. The companies have agreed on a three-year agreement, which is anticipated to be adhered to by most Case retailers. Pillows, travel adapters, and a line of travel comfort items are just a few of Go Travel’s well-known accessories. Furthermore, the smart Luggage Suitcase includes features like a digital locking system controlled by a smartphone, a GPS tracking system, a USB port for charging devices, an integrated removable battery, an LED light system, smartphone, and Bluetooth connectivity, an alert system, increased compartments for a particular item, 360-degree wheels, a telescoping handle, a foldable bag, a multipurpose bag, water-resistant material, convertible kick-style scooter suitcase, convertible seat suitcase, a suitcase box, and replacement batteries. Smart suitcase has shown the way forward for existing products.

Recent Market Developments:

In July 2021, LVMH and Virgil Abloh announced a definitive agreement through which LVMH will acquire a majority stake in Off-white LLC. Following the acquisition, LVMH will own a 60% interest in the trademark, and Mr. Abloh will have a 40% interest and continue as creative director of the brand.

In May 2021, Charlotte Stockdale and Katie Lyall partnered with RIMOWA on a limited-edition series of suitcases and travel accessories. The RIMOWA essential suitcases have signature polycarbonate grooves splashed with a bold graphic in the shape of paint dripping down the suitcase’s exterior.

Suitcase Market

MARKET SUMMARY
-
6.8%
  • Study Period– 2022-2028
  • Base Year– 2021
  • CAGR– 6.8%
  • Largest Market– Asia-Pacific
  • Fastest Growing Market– Asia-Pacific

Suitcase Market

  • The suitcase market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The suitcase market report gives historical, current, and future market sizes (US$ Mn) based on product type, distribution channel, price range, category, and geography.
Key Players
  • VF Corporation
  • Delsey
  • Briggs & Riley
  • Rimowa
  • Travelpro
Suitcase Market Dynamics

The demand for Suitcase products is rising due to expanding educational possibilities, increasing travel and tourism, and the growth in online tourism. In addition, evolving technology has improved the features of different suitcase products. To maintain pace with the constantly shifting trends, consumers are also more likely to spend money on expensive and luxurious travel accessories. A suitable picture for the industry is also being created by several product advancements, such as introducing inventive designs and visually appealing eco-friendly alternatives. In addition to all of these factors, rising consumer demand for branded suitcase, rising consumer spending on smart and luxurious suitcase products, and rising demand for casual bags like female and male shoulder bags, wheeled duffel bags, and backpacks are all predicted to drive growth in the global suitcase market. On the other hand, the higher cost of smart suitcase for the low-income population restrained the market.


Asia-Pacific Got Significant Share

Suitcase Market

The suitcase market in Asia Pacific is likely to hold a significant revenue share in 2022, and, in the following years, it is predicted to increase rapidly. Due to the increasing growth of suitcase manufacturers, Asia Pacific is predicted to dominate the worldwide baggage market. The region's baggage market may also be driven by increased travel and living expenses, rising demand for high-quality suitcase items, and rising use of office and sports suitcase. Europe is another significant region in the world suitcase market. The market for suitcase in this area is driven by rising foreign travel costs and increasing sports activity.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The suitcase market report provides granular level information about the market size, regional market share, historic market (2016-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario.
Suitcase Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The suitcase market is projected to expand at a CAGR of 6.8% during the forecast period.

Briggs & Riley, Rimowa, Travelpro, Tommy Hilfiger, Victorinox, Olympia

Asia-Pacific is the fastest-growing region for suitcase market


Report

Company Profile

  • VF Corporation
  • Delsey
  • Briggs & Riley
  • Rimowa
  • Travelpro
  • Tommy Hilfiger
  • Victorinox
  • Olympia
  • Fox Luggage Suitcase
  • Skyway
  • Traveler’s Choice
  • Diplomat
  • EMINENT

Description

The suitcase market is valued at USD 21 billion in 2021 and is poised to grow at a significant CAGR of 6.8% over 2022–2028. Rising urbanization, rising disposable income, and rising customer preference for high-end baggage with GPS trackers are anticipated to boost the market during the anticipated years. In practically every field of endeavour, a new revolution is anticipated as globalization strikes the world with a technological touch. The need for suitcase bags and other travel items has increased over the past few years, and this is anticipated to continue as a critical shifting trend. Traveling is now more accessible and affordable than it has ever been. The suitcase sector is not the one to miss out on this, as sustainability is currently driving practically all industries. For instance, Horizn Studios recently revealed its new line of upscale baggage to provide more sustainable and environmentally friendly goods. For tourists concerned about ethics, there is a new kind of baggage called Circle One that is made entirely of plants and decomposable. The company has also stopped using single-use plastics in its packaging and is concentrating on using cardboard and recyclable materials instead. In addition to the industry’s advancements driven by such admirable environmental goals, there is a rise in coalitions and partnerships to fulfill the needs of the travel industry’s expanding competitive environment. For instance, Go Travel and Case have collaborated, and Go Travel’s accessories are now on display in the Case store at London’s Heathrow airport, ready to take center stage. The companies have agreed on a three-year agreement, which is anticipated to be adhered to by most Case retailers. Pillows, travel adapters, and a line of travel comfort items are just a few of Go Travel’s well-known accessories. Furthermore, the smart Luggage Suitcase includes features like a digital locking system controlled by a smartphone, a GPS tracking system, a USB port for charging devices, an integrated removable battery, an LED light system, smartphone, and Bluetooth connectivity, an alert system, increased compartments for a particular item, 360-degree wheels, a telescoping handle, a foldable bag, a multipurpose bag, water-resistant material, convertible kick-style scooter suitcase, convertible seat suitcase, a suitcase box, and replacement batteries. Smart suitcase has shown the way forward for existing products.

Recent Market Developments:

In July 2021, LVMH and Virgil Abloh announced a definitive agreement through which LVMH will acquire a majority stake in Off-white LLC. Following the acquisition, LVMH will own a 60% interest in the trademark, and Mr. Abloh will have a 40% interest and continue as creative director of the brand.

In May 2021, Charlotte Stockdale and Katie Lyall partnered with RIMOWA on a limited-edition series of suitcases and travel accessories. The RIMOWA essential suitcases have signature polycarbonate grooves splashed with a bold graphic in the shape of paint dripping down the suitcase’s exterior.

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