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The luggage market size is forecast to increase by USD 14.61 billion at a CAGR of 8.09% between 2023 and 2028. The market is experiencing significant growth due to the expanding global travel and tourism industry. This trend is driven by the introduction of innovative luggage designs, such as convertible and foldable options, catering to the diverse needs of consumers. However, increasing restrictions on smart luggage by airlines for security purposes pose challenges to market growth. The use of raw materials like polycarbonate, polyester, polypropylene, and polyvinyl chloride in luggage production continues, with premium leather accents adding an elegant touch. Professional sports and startups are also influencing the market, leading to the production of specialized sports luggage and the emergence of new players. Retail stores, specialty stores, and online platforms are key sales channels. Market trends include the use of recycled materials, resilient aviation infrastructure, and the integration of technology, such as removable batteries, smartphone compatibility, and sturdy wheels, in luggage designs. Social media marketing is a popular strategy for reaching consumers, with brands utilizing platforms to showcase their latest offerings and engage with customers. The shortage of manpower in the manufacturing sector and the rising demand for slimline passport holders and smart backpacks and trolley bags are additional market drivers.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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