Global Travel Luggage Market: Analysis By Price Point (Value & Mid-Level, Premium, Luxury), By Distribution Channel (Specialty Stores, Departmental Stores, Internet Sales, Others) - By Region, By Country (2018 Edition): Forecast to 2023

Date: 28 April 2018

Globally, the growth of Travel Luggage market is driven by rapid urbanization, infrastructure development leading to better regional and global connectivity, prospering tour & travel industry, changing lifestyle and growing disposable income. Additionally, the increasing air passenger traffic due to the emerging low cost carriers, increasing expenditure on leisure & domestic travel and growth in domestic and international tourist arrivals is contributing to the faster growth of Travel Luggage market.

 

According to Azoth Analytics research report “Global Travel Luggage Market: Analysis By Price Point (Value & Mid-Level, Premium,Luxury), By Distribution Channel (Specialty Stores, Departmental Stores,Internet Sales, Others) - By Region, By Country (2018 Edition): Forecast to 2023”, the global Travel Luggage market is projected to exhibit a CAGR of over ~7.06% during 2018 – 2023, largely driven by the significant infrastructure development, growing travel & tourism industry and increasing per income coupled with growing demand for convenient travel. The emerging Travel Luggage in light weigh lightweight material and add on features of wheels, back straps, GPS tracking system and portable charging slots are anticipated to propel the demand for Travel Luggage during the forecast period. 

 

APAC is predicted to grow at higher rate during the year 2018-2023F, which is mainly driven by rapid urbanization, changing lifestyle of expanding middle class income group, increasing demand for domestic &international travel, emerging low cost carriers, increasing investment in travel & tourism industry with a focus to integrate travel & tourism in mainstream economic activities and increasing spending on leisure travel inline with changing perception of viewing travel products as life style products.

 

Value & mid category in price point segment accounts for 43.93% of global Travel Luggage market owing to the significant population belonging to lower & middle class income group population and lower prices.


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