the baggage market
1.1 Definition and presentation
Baggage is a means of equipment which is used for storage purposes. Although used in synonym with luggage, baggage has a wider scope of meaning, and can include items such as travel baggage, casual luggage, business luggage, and sport luggage.
The global market has seen strong positive growth; CAGR was 4.49% from 2013 to 2018.
The US market is fragmented and there is a large supply of local and international manufacturers. Moreover, the product range is large, and include for example duffle bags, backpacks, and trolley bags. Key players include Adidas, LVMH Moët Hennessey Louis Vuitton, Samsonite, VIP, and NIKE.
Market growth is strongly correlated to tourism figures. The outlook for this sector is positive and boosted by an increased demand from Emerging Economies; indeed, US Travel reports that both domestic and inbound travels will increase for the US. The APAC region is projected to drive the foreign demand.
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