According to the business intelligence report titled ‘Global Luggage Market (2021 Edition) - Analysis by Product Type (Travel Bags, Casual Bags, Business Bags), Price Segment, Distribution Channel, By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global luggage market is expected to showcase a robust growth rate through 2026.

Decisive findings by experts claim that increased usage of electronics, combined with rising disposable income levels, and mounting international & domestic travel are the factors propelling global luggage market growth.

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Moreover, higher concentration of OEMs and ODMs across industries is another major factor contributing to an upward trend in market dynamics in the upcoming years.

Notably, the onset of the Covid-19 pandemic has spearheaded the advent of digitalization, with several industry players shifting their businesses online due to prevalent lockdown restrictions across the globe. This development has positively impacted the growth trajectory of the industry as online sales have reached their peak in recent years.

Based on product type, worldwide luggage industry is divided into business bags, travel bags, and casual bags. The travel bags segment is expected to gain substantial traction over the forecast period, attributable to their ease of use.

With respect to price, the market is classified into luxury, premium, and value & mid-level. Herein, mid-level & value segment is expected to register a strong growth rate through 2026. Similarly, growing inclination towards luggage carriers from the premium pricing segment is likely to thrust the sub-market forward in the coming years.

From a regional frame of reference, Asia Pacific market is a strong contender with respect to growth rate over the review period, owing to increased demand for mid-level and premium luggage options across the region.

The competitive terrain of global luggage business sphere is majorly influenced by key players such as Tumi Holdings Inc., Fox Luggage Inc., Delsey, VIP Industries, Goyard, Briggs & Riley, Rimowa GmbH, VF Corporation, ACE Luggage Co. Ltd., Samsonite International S.A.

These companies are undertaking various partnership deals, acquisitions and mergers, while directing efforts to improve their production capacity to maintain a strong foothold over market dynamics.