South America Luggage Market Research Report, 2027

Luggage retail is a very important market throughout the world. Baggage or luggage consists of bags, cases, and containers which hold a traveller’s articles while the traveller or passenger is traveling. Luggage has changed a lot over time. Historically, the most common types of luggage were chests or trunks made of wood or other heavy materials. Today's consumer may have a range of bags and cases containing clothing, toiletries, small possessions, trip necessities, and on the return-trip, souvenirs. The market growth can be attributed to the increasing demand for luxury and designer luggage bags among travellers across the globe. Additionally, the rising disposable income of consumers coupled with the growing tourism industry is also fuelling the demand for luggage bags. According to the report “South America Luggage Market Research Report, 2027” published by Actual Market Research, the market is projected to attain market size of more than USD 5.5 Billion by 2027 with CAGR of more than 9%. The South America travel and tourism industry is expected to see growth due to the increasing internet penetration in the region, improving economic status of the countries and as a result more availability and ability to travel across and within the country. Outbound travel is a major reason for the industry's growth. As per the data obtained from World Travel and Tourism Council, in 2018, tourism contributed to 8.7% of the region's GDP, 7.8% of all employment, and 7.3% of total exports. Year after year the luxury market in South America continues to see growth, often despite unstable economies in some of its countries, demonstrating how important the continent is to luxury. However, despite the huge amount of potential buyers, South countries have not made strong efforts to become producers for luxury goods until now. The number of local brands is now growing, presenting products with a South essence capable of competing with luxury giants worldwide. According to the report, the market is segmented into three major bag types including travel bag, business bag and casual bag. Among these types, travel bag is projected to lead the market during the forecast period followed by casual bag type. 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: Since the COVID-19 pandemic has forced a major part of the global population to sit at home, owing to travel restrictions and lockdown, the luggage and backpacks industry has been hit hard. Also, most potential consumers limited their spending on travel luggage, which directly impacted the sales revenues of top big brands in the luggage market. However, as the pandemic situation is improving gradually, the spending patterns of consumers have strengthened, and the market is expected to regain its potential as the economies of the developing nations improve. The change in lifestyle, the growing travel and tourism industry, and the customer inclination toward high-end luggage are likely to positively impact the market’s growth during the forecast period. Considered for the Report: Geography: South 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 South 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: “South 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 - South America Luggage Market Research Report - South America Travel Luggage Market Size By Value & Forecast - South America Casual Luggage Market Size By Value & Forecast - South America Business Luggage Market Size By Value & Forecast - South America Luggage Market Segmental Analysis: By Country, By Segment - Brazil Luggage Market Research Report - Argentina Luggage Market Research Report - Colombia Luggage Market Research Report - Rest of South 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.