According to a new report, published by KBV research, The Global Suitcase And Briefcase Market size is expected to reach $50.7 billion by 2030, rising at a market growth of 6.3% CAGR during the forecast period.
The Travel Cases segment is leading the Global Suitcase And Briefcase Market by Product Type in 2022 thereby achieving a market value of $38.8 Billion by 2030. The expansion of air travel worldwide has made travel cases essential for protecting belongings during flights. Airlines often have specific size and weight restrictions, prompting travelers to invest in luggage that complies with these regulations. The rapidly expanding travel and tourism sector is mainly responsible for the increased demand for suitcases. A further factor driving the market expansion for this sector is the selection of top athletes as brand ambassadors for luggage makers.
The Online Trading segment is showcasing a CAGR of 8.2% during (2023 - 2030). The coming years will see rapid expansion in the online trade sector due to factors such as increasing digitalization, widespread access to smartphones along with the internet, and the propensity of the younger generation to purchase goods via online platforms. The availability of products in various colors, materials, design patterns, and, most crucially, a wide variety of costs may all be attributed to the increase in demand for high-end goods through the e-commerce industry.
The Asia Pacific region dominated the Global Suitcase And Briefcase Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $19.1 Billion by 2030. The Europe market is anticipated to grow at a CAGR of 5.4% during (2023 - 2030). Additionally, The North America market would display a CAGR of 6.1% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/suitcase-and-briefcase-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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By Geography
Companies Profiled
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