The North America Suitcase And Briefcase Market would witness market growth of 6.1% CAGR during the forecast period (2023-2030).
Luggage now often includes enhanced security features, such as TSA-approved locks, anti-theft zippers, and RFID-blocking pockets to protect against identity theft. Briefcases incorporate tech-friendly features like padded laptop compartments, cable management systems, and wireless charging capabilities to meet the needs of modern professionals. The growth of e-commerce has transformed the way consumers shop for luggage and briefcases. Online retail platforms offer a wide selection, competitive prices, as well as the comfort of shopping from home. Many consumers research products online before making a purchase.
With increasing environmental issues' awareness, there is a growing demand for sustainable and eco-friendly luggage options. Brands are incorporating recycled materials and sustainable manufacturing practices into their products to appeal to environmentally conscious consumers. Fashion and design trends, as well as innovation, play a significant role in shaping the market. Consumers seek functionality and durability and demand stylish, aesthetically pleasing, and technologically advanced products. Clean lines, monochromatic colors, and minimalist designs have become popular in suitcases and briefcases. These sleek and timeless aesthetics appeal to consumers seeking modern and understated luggage.
Briefcases and laptop bags are essential accessories for students in North America, whether in high school, college, or graduate school. The United States is home to many world-renowned universities and colleges. Many students from around the world come to the U.S. to pursue higher education degrees, including undergraduate and graduate programs. This influx of international students contributes to the rising numbers in American universities.
The State University of New York (SUNY) system is one of the largest public university systems in the U.S., comprising 64 campuses. SUNY schools offer diverse educational opportunities across the state. Similarly, when it comes to student enrollment, the University of Central Florida (UCF) consistently ranks as one of the most prominent universities in the United States. Numerous undergraduate, graduate, as well as professional degree programs are available. Students use briefcases to transport laptops, textbooks, and study materials. Therefore, all of these factors continue to support the growth of the market in the region.
The US market dominated the North America Suitcase And Briefcase Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $9,444 Million by 2030. The Canada market is exhibiting a CAGR of 8.5% during (2023 - 2030). Additionally, The Mexico market would showcase a CAGR of 7.5% during (2023 - 2030).
Based on Product Type, the market is segmented into Travel Cases, and Business Cases. Based on Distribution Channel, the market is segmented into Offline Trading, and Online Trading. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Suitcase And Briefcase Market is Predict to reach $50.7 Billion by 2030, at a CAGR of 6.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include VF Corporation, Samsonite International S.A., Hermes International S.A., Kering S.A, Ace Co. Ltd., Bric’s Industria Valigeria Fine SPA, Nike, Inc., LVMH SE, Valigeria Roncato S.p.A., and VIP Industries Limited.
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