Suitcase And Briefcase Market Analysis by Application 2028

Suitcase And Briefcase Industry Overview

The global suitcase and briefcase market size was valued at USD 30.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2022 to 2028.

Rapidly growing travel and tourism, rising urbanization, changing lifestyles, and consumers' increased purchase power has led to market growth. Availability of the product in different shapes, sizes, colors, and design patterns appeals to the large consumer base, thus propelling the market growth. Suitcases and briefcases are considered to be fashion trendy products and the status symbolism of the owner for some leads to rising demand for premium products.

Gather more insights about the market drivers, restrains and growth of the Global Suitcase And Briefcase Market

U.S. suitcase and briefcase market size, by distribution channels, 2019 - 2028 (USD Billion)

Briefcases are highly popular in the business world, as it is essential for carrying important documents, money, and valuables. The rising demand for briefcases from businesspeople for their stylish and convenient way of carrying important documents, and laptops from one place to another, leads to the growing demand for briefcases. Increasing sports activities across the world and the growing use of suitcases by athletes are also propelling the suitcases market growth.

Travelers are highly preferring the multipurpose luggage bags which creates escalating demand for foldable and convertible luggage carriers. Suitcases with spinning wheels have grown in demand in the global market as they are easy to carry from different places. Innovative and advanced product launches from manufacturing companies are one of the major factors responsible for the market growth.

Furthermore, the integration of RFID technology in suitcases and briefcases from manufacturers for security reasons will also be propelling the market growth. Increasing demand for premium and fashionably trendy products from millennial consumers will further boost the market growth.

The market was negatively affected by the COVID-19 pandemic. The major fall in the travel and tourism industry throughout the pandemic period is the major reason for the reduced sale of luggage globally. Due to the novel Coronavirus, the strict implementation of country-wise lockdowns and a complete ban on international traveling as well within the country hampered the market growth.

Restrictions on the import and export of product, closed production facility, reduced footprints at retail stores, and reduced demand for luggage due to low traveling, are all factor that affects the market at the global level. During the COVID era, consumers' buying behavior shifted from offline channels to online portals, which influenced positively on luggage market. However, as things get normal it is expected that the market get its momentum as in the pre-pandemic era and capture a significant market share in the coming years.

Browse through Grand View Research's Clothing, Footwear & Accessories Industry Research Reports.

  • Handbag Market - The global handbag market size was valued at USD 49.12 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 5.8% over the forecast period.
  • Bags And Containers Market - The global bags and containers market size was valued at USD 38.80 billion in 2021 and is expected to expand at a compound annual growth rate of 5.6% from 2022 to 2028.

Key Companies profiled:

Some prominent players in the global suitcase and briefcase market include

  • Ace Co. Ltd.
  • Antler Ltd.
  • Bric’s Industria Valigeria Fine SPA
  • Delsey S.A
  • Luggage America Inc.
  • LVMH Moët Hennessy Louis Vuitton
  • Nike, Inc.
  • Samsonite International S.A.
  • V.F. Corporation
  • Valigeria Roncato
  • VIP Industries Ltd.
  • Briggs & Riley Travelware

Order a free sample PDF of the Suitcase And Briefcase Market Intelligence Study, published by Grand View Research.

Comments

Post a Comment

Popular posts from this blog

South Africa Veterinary Medicine Market Size, Share, Revenue Analysis By 2028

Image
South Africa Veterinary Medicine Industry Overview The  South Africa veterinary medicine market  size is expected to reach USD 248.2 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.1% from 2021 to 2028. The market holds many opportunities to grow during the forecast period owing to the growing livestock and pet population, increasing consumption of meat, rising incidence of diseases in animals, and the presence of key global companies. According to a report published by the African Union/Interafrican Bureau for Animal Resources (AU/IBAR), MSD Animal Health leads the South African market for veterinary medicines, followed by other key companies. South Africa Veterinary Medicine Market Segmentation Grand View Research has segmented the South Africa veterinary medicine market on the basis of animal type, product, mode of delivery, and end-use: Based on the Animal Type Insights, the market is segmented i...
Read more

Fencing Market Competitive Landscape And Component Benchmarking 2030

Image
Fencing Market Growth & Trends The global  fencing market  size is anticipated to reach USD 44.39 billion by 2030, growing at a CAGR of 5.5% over the forecast period, according to a new report by Grand View Research, Inc. The growing need to safeguard agricultural assets and the aggressive investments being made by private companies in strengthening the security and enhancing the aesthetics of their premises are expected to drive the growth of the market over the forecast period. The growth of the  real estate market  and the increase in the number of remodeling projects being undertaken are expected to contribute to the growth of the market. Fencing Market Segmentation Grand View Research has segmented the global fencing market based on material, distribution channel, installation, application, end use, and region: Based on the Material Insights, the market is segmented into Metal, Wood, Plastic & Composite, Concrete. The metal segment accounted for ...
Read more

U.S. Cold Storage Market Distributor Analysis and Forecasts By 2030

Image
U.S. Cold Storage Market Growth & Trends The  U.S. cold storage market  size is estimated to reach USD 96.90 billion by 2030, expanding at a CAGR of 13.6% over the forecast period, according to the new research conducted by Grand View Research, Inc. The U.S. is widely regarded as one of the leading markets in developing technologies responsible for the effective management of cold storage processes. The pharmaceutical industry is expected to offer growth opportunities to the market. Inventory management of pharmaceutical goods, such as vaccines   and medicines, is an expensive process that necessitates adequate security measures to maintain product quality. Advanced cold storage technologies that offer beneficial features, such as advanced refrigeration technologies and monitoring and tracking systems of various products like fruits and vegetables, significantly mitigate the possibility of wastage of temperature-sensitive goods. U.S. Cold Storage Market S...
Read more