Europe Luggage Market Research Report, 2027

The Europe region ranks second after Asia and are among the leading markets for luggage and leather accessories and goods in the world. The best performing sectors were handbags, laptop cases and small suitcases. A large group of EU consumers likes to keep up with the latest trends in fashion. In addition, an increasing variety in the design of luggage and accessories and an increasing use of new non-leather materials (nylon, fiber, and textiles) has given a strong stimulus to this mature market. Furthermore, lower prices and increased supply through non-specialist channels have exposed a larger group of consumers to this market sector, resulting in increased sales. According to the report, “Europe Luggage Market Research Report, 2027” published by Actual Market Research, the market is estimated to acquire more than USD 9 Billion market size with more than 1.5% CAGR for 2022-2027. Higher disposable incomes, increased business travel short weekend trips with low cost airline, and new markets for men, teens and older people, increased influence of fashion. Changes in technology and others are the factors responsible for stimulating demand in this market. Europe has traditionally been regarded as an important supplier of high quality luggage and leather accessories and goods to the world market. The trade channels for luggage and leather accessories are characterized by an enormous diversity, with the following differences per product group: For luggage (suitcases and briefcases), the specialist channels remain important. For bags and leather accessories there is a wide distribution network, which includes sales by clothing shops, footwear, perfumeries, sports shops and service companies. For all product groups, department stores take up a large proportion of retail sales. Additionally, non-specialist channels have become important, as is the influence of large chain operators. However, importers/wholesalers or manufacturers would be the best starting point, as physical distribution of luggage is a constraint and changes in fashion occur more quickly in Europe. The European luggage market follows the general apparel trends related to sustainability, technological innovation, and increased emphasis on corporate and social responsibility. In Europe, the primary markets for travel and business bags are Germany, France, and the United Kingdom. The market in this region will increase at a quicker rate than the industry in North America. The availability of a broad variety of designs in the travel and business bags market, as well as related accessories, will aid the expansion of the travel and business bags market in Europe. Higher disposable incomes from women looking for accessories that go well with their total outfit, increased business and short breaks stimulating demand for luggage, new markets for men, teens & older people, new technologically-driven products stimulating small accessories sales are some of the driving factors for Europe luggage market. Further, Europe is the leading importer of luggage/ accessories in the world, importing more than a third of total world imports. The UK and France were largest importing countries in 2021. Based on the price range, the market is segmented into three parts including low-range, medium range and premium range. People on lower incomes prefer low priced products in nylon or fibre which can be used over a long period of time; they choose items which are functional and durable rather than fashionable. On the other hand, people on average income tend to prefer functional items, especially luggage whereas people on higher income prefer accessories responding to latest fashion and brands. There are a number of broad lifestyle trends that affect buying behaviour, other are short-term or product-specific trends that are usual seasonal in nature. In addition to that, care and concern for the environment are increasing. Hence, the materials used in manufacturing and packaging, the social conditions under which a product is made are rising in importance. On the other hand, as the middle class is growing in all countries, demand of luxury and branded imported goods is set to grow across the European region. Covid-19 Impacts: The pandemic strongly influenced the sales and processes within all segments of the fashion industry in 2021. In most European countries, many local shops had to close during lockdowns. Some survived thanks to support from their governments, a mix of heavy discounts, and a shift to digital sales. Overall, luggage sales experienced a sales decline in 2021, although it was not as severe as in other apparel segments. However, according to industry experts, the pandemic may change all market dynamics in the long run. The pandemic created new trends and demands among consumers. E.g., some Chinese manufacturers have been observed providing buyers with antibacterial and antiviral fabrics. Considered for the Report: Geography: Europe Base Year: FY 2016 Estimated Year: FY 2022 Forecast Year: FY 2027 Objective of the study: • To present a global luggage industry • To analyse and forecast the market size of Europe Luggage, in terms of value • To define, classify and forecast Luggage market on the basis of segments like Travel Bags, Casual Bags and Business Bags • To strategically profile leading players, those are operating in the Luggage industry of World. Approach for the Report: Actual Market Research performed primary as well as secondary research for this study. Initially, a list of manufacturers and suppliers operating in the Luggage market of the world were sourced through secondary sources. With the identified companies and consumers, primary research was carried out which included conducting online surveys, competitor analysis and exhaustive personal interviews - both face to face as well as telephonic basis, to extract maximum information from participants like industry executives/ distributors or consumers. Primary research gave us an idea of company revenues, export, pricing, geographical presence, channel partner model, USP etc. and also helped us to identify various small players who otherwise have less presence on the web. Actual Market Research seeks secondary data from third-party sources such as published articles, company websites, magazine articles, associations, trade journals, annual reports, government official websites and other paid database sources. In addition, data is also mined from a host of reports in our repository, as well as a number of paid databases of Indian government. Using both primary and secondary information, Actual Market Research calculated the market size through a bottom-up approach, where manufacturers’ value sales data for different types of luggage were recorded and subsequently forecasted for the future years. Scope of the Report: “Europe Luggage Market Research Report, 2027” discusses the following aspects of pet care market in the world: - Global Luggage Market Research Report - Global Travel Luggage Market Size By Value & Forecast - Global Casual Luggage Market Size By Value & Forecast - Global Business Luggage Market Size By Value & Forecast - Global Luggage Market Segmental Analysis: By Company, By Country, By Region, By Segment, By Sales Channel - Europe Luggage Market Research Report - Europe Travel Luggage Market Size By Value & Forecast - Europe Casual Luggage Market Size By Value & Forecast - Europe Business Luggage Market Size By Value & Forecast - Europe Luggage Market Segmental Analysis: By Country, By Segment - Germany Luggage Market Research Report - United Kingdom Luggage Market Research Report - France Luggage Market Research Report - Spain Luggage Market Research Report - Italy Luggage Market Research Report - Rest of Europe Luggage Market Research Report - Key Vendors in this market space Intended Audience: This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to pet industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.