North America Luggage Market Research Report, 2027

The North America region witnessed considerable improvements in economic stability over the past few years, with the U.S. and Mexico depicting growth in GDP, industrial performance, trade, etc. This has also positively impacted the growth of dependent industries such as commercial air transport, travel & tourism, and hospitality, among others. North America contributes 25 percent of the world’s travel and tourism GDP, according to the World Travel & Tourism Council. These factors are expected to create higher demands for luggage across the region. Further, the economic growth in the region has led to a rise in disposable incomes of the population, thereby enabling them to spend more on luxury goods and services. Domestic travel and family vacations increased significantly in the region over the past few years, thereby providing a boost to the commercial air transport, travel & tourism, and hospitality industries. According to the report, “North America Luggage Market Research Report, 2027” published by Actual Market Research, the market is anticipated to reach more than USD 12 Billion market size, registering CAGR around 2% for 2022-2027. In North America, the industry is fragmented in nature, with the presence of a large number of small & medium enterprise suppliers of key products such as duffle bags, trolley bags, and backpacks. Top companies such as Samsonite are facing significant competition from these smaller players, as the latter is focusing more on developing and introducing advanced, application-specific travel bags for the consumers in the region. The share of the US market is expected to decline owing to the rapid growth of travel bags consumption in Mexico. The economic growth in Mexico and the resultant rise in disposable incomes have led to increasing incidences of domestic and international traveling among the population, thereby propelling the demand for travel bags. Further, North America luggage market luggage provides lucrative opportunities in the coming years. Economic stability and growth of the travel and tourism industry in the region gives a resilient opportunity for the luggage market. As per the obtained data of population and number of households across the countries, it is estimated that in US, there are around 3 luggage & bags in one household. As for Canada and Mexico, this count is around 2 bags. Some of the players in the North America industry include Fabri-Tech Inc., LBU, Inc., Harken Canvas, Samsonite, and The Lincoln Electric Company. According to the report, the North America luggage market is segmented into three major bag types including travel bag, causal bag and business bag. Among these types, casual bag type is leading the market with more than 50% share in 2021 owing to the rising attention towards fashion sense among the young population. Further, the market is segregated into three distribution channels including specialist retailers, factory outlets and internet sales. Among these types, specialist retailer segment is projected to acquire prominent market share whereas increasing penetration of internet across the region boost the internet sales. This segment is projected to grow with significant CAGR during the upcoming timeframe. The availability of a wide range of products, from multiple suppliers and at different price ranges, can be regarded as one of the prime factors driving the demand for travel bags via specialist retailers. Covid-19 Impacts: The COVID-19 pandemic, travel restrictions, national and local lockdowns have impacted many countries across the world. Like many other industries the North America luggage industry also experienced a slowdown, especially during the first half of 2020. During the lockdown, the operations of numerous industries were temporarily halted or were functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. However, in 2021, the pandemic situation stabilized, consumer purchasing patterns strengthened, and the market began to reach its full potential as the economies of developing countries improved. People started traveling as travel restrictions were removed and demand for luggage were returned to pre pandemic level. Considered for the Report: Geography: North America 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 North America 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: “North America 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 - North America Luggage Market Research Report - North America Travel Luggage Market Size By Value & Forecast - North America Casual Luggage Market Size By Value & Forecast - North America Business Luggage Market Size By Value & Forecast - North America Luggage Market Segmental Analysis: By Country, By Segment - USA Luggage Market Research Report - Canada Luggage Market Research Report - Mexico Luggage Market Research Report - Res of North America 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.