According to the recent research 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 accounted for USD 45 billion in 2020 and is predicted to amass significant gains by 2026.

The increased disposable income, widespread usage of electronics products, growing demand for premium luggage products, and rising domestic and international travel are predominantly fueling the global luggage market growth.

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People are lately more focused on e-commerce and the potential it holds in terms of shopping as the COVID-19 pandemic has had a severely affected brick-and-mortar sales and with the development. As a result, businesses are attempting to sell their products online through various e-commerce sites like Amazon, Ebay, Flipkart, and others, thereby boosting the overall market growth.

Apart from elaborating on the major development trends, the research document talks about the various market segmentation such as product type, price segment, distribution channel, and geographical landscape. Speaking of product type, the global luggage market is divided into casual bags, travel bags, and business bags. Among these, the travel bags segment is poised to amass commendable gains in the ensuring years owing to rising demand for various types of travel bags.

By price segment, this marketplace is segregated into value and mid-level, premium, and luxury price levels. The premium price segment is expected to capture the largest market share in the ensuing years due to the availability of multiple types of luggage bags.

Moving forward the distribution channel, the worldwide luggage industry is segmented into departmental stores, specialty stores, internet sales, and other channels.

The regional analysis of this industry vertical is widespread across North America, Europe, Asia Pacific, and the Rest of the World

Meanwhile, the leading companies defining the competitive landscape of global luggage marketplace are Samsonite, VIP Industries, VF Corporation, Remowa, Briggs & Riley Travelware, Fox Luggage, Delsey, Tumi Holdings, and Goyard, ACE Luggage Co. Ltd. These companies are continuously focusing on strategic collaborations, R&D efforts, and innovative product developments to acquire a competitive edge in this business space.