The timeline shows the retail sales value of the global luggage market in 2006 and 2010 and provides a forecast for 2015, by region. In 2015, the retail sales value of the North American luggage market is expected to be about 8.64 billion U.S. dollars. The total retail sales value of the global luggage market is forecasted to be about 31.62 billion U.S. dollars in 2015.
Global Luggage Market
Traveling has increased to a great extent with the rise in urbanization and leisure activities. People are becoming more inclined toward branded and fashionable travel accessories including luggage. The present day meaning of luggage has evolved from a traditional clothes packing medium into a more comfortable, convenient and multi-purposeful travel-companion. Luggage has now become a part of travel apparel which defines personality of the traveler. Nowadays, apart from clothes, luggage bags include shoes, laptops, cameras as well as other related electronic accessories, food items, water bottles, and business files.
The global luggage market is estimated to generate sales close to 32 billion U.S. dollars in 2015; with the business bag segment responsible for 6 billion U.S. dollars of those retail sales. The rising global economy and increasing per capita income are some of the key drivers of the global luggage market. The luggage market can be segmented into three major categories, namely casual bag, travel bag, and business bag. These categories can be further fragmented into backpacks, computer bags, wheel bags, business carry-on tool bags, and sports bags. The casual bag segment, which includes backpacks and wheel bags, is the fastest-growing segment.
Samsonite is one the world's largest travel goods players. In 2014, the total revenue of Samsonite was around 2.35 billion U.S. dollars; with 38 percent of its net sales being generated by its Asian region. The top four players of the industry are ACE, Samsonite, Tumi, and VF Corp. although there are several emerging players in developing countries, who operate at the local level.