The global luggage and leather goods market is anticipated to grow at a considerable CAGR 6% during the forecast period (2022-2028). Surging trends for international and domestic travel coupled with growth in the tourism industry are anticipated to drive the growth of the global leather and luggage goods market. According to International Civil Aviation Organization (ICAO), the total number of passengers carried on scheduled services rose to 4.5 billion in 2019, which is 3.6% higher than in 2018, while the number of departures reached 38.3 million in 2019. The low-cost carriers carried an estimate of 1.4 billion passengers in 2019, which was approximately 31% of the global total scheduled passengers. Further, according to the data published by the Bureau of Transportation Statistics in 2022, U.S airlines carried 674 million passengers in 2021, which is 82.5% more than in 2021.
According to the data published by United Nations World Tourism Organization (UNWTO) in 2020, 1.5 billion international tourist arrivals were recorded in 2019. Further, Asia Pacific had shown above-average growth for both domestic and international arrivals. For instance, as per the Ministry of Tourism, India had witnessed more than 10.93 million tourist arrivals in 2019. Further, domestic tourist visits had crossed 2321.98 million, while foreign tourists’ visits have crossed 31.4 million in 2019. Moreover, Europe welcomed more than 743 million international tourists in 2019. Thus, the increasing number of tourists is anticipated to support the demand for the global luggage and leather goods market.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product Type
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Knoll Inc., American Leather, Inc., and VIP Industries Ltd. among others
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Luggage & Leather Goods Market Report by Segment
By Product Type
- Leather Goods (Footwear, Clothing & Apparel, Leather accessories, and others)
- Luggage
- Rolling Luggage
- Others
By Distribution Channel
- General Retailers
- Single Brand Stores
- Specialty & Multi-Brand Stores
- Online Stores
- Others
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