1.1 Presentation and definition of the market
The luggage market includes all travel items and accessories. A number of criterions can be used to segment the market into several categories, amongst them the following:
- Segmentation by size;
- Segmentation by price;
- Segmentation by type of luggage.
Worldwide, the top five markets in terms of market value continue to show positive developments, with North America as the largest market and Asia Pacific the fastest growing region. The sector remains strongly correlated to purchasing motivations, such as leisure and business trips. In other words, the increase in the tourism industry, along with the rising number of business trips, are much likely to positively impact the growth of this market, which is furthermore characterized by a moderate fragmentation. The sector is composed of a large number of regional and international manufacturers such as Adidas AG, Louis Vuitton, Samsonite, VIP or Nike. New preferences in the demand - and especially high-end luggage- are forcing these actors to adapt their offer every day. In this context, the Indian luggage market has become highly competitive, where consolidated brands like VIP are competing with newcomers such as Da Milano. [Mordor Intelligence]
In Brazil, the recent devaluation process of the currency is reducing the demand for international travels, which might be a distress for the evolution of the market. However, the recent recovery on number of domestic trips (with cheaper prices), both by land and air, bolster the sector. The fast fashion model together with strong perspectives for the economy of the country (which tend to increase the number of business travels) are positive determinants of the tendency of this market.
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