USD 31.90 billion
Suitcase and Briefcase Market Size, Share, Growth Analysis, By Product Type(Travel Cases and Business Cases), By Distribution Channel(Offline and Online), By Material Type(Leather, Fabric, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30L2101 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
86
|Figures:
76
Suitcase and Briefcase Market Insights
Global Suitcase And Briefcase Market size was valued at USD 31.90 billion in 2022 and is poised to grow from USD 33.81 billion in 2023 to USD 53.89 billion by 2031, growing at a CAGR of 6% during the forecast period (2024-2031).
The growing travel and tourism industry, business travel, and the increasing trend of online shopping have driven the demand for suitcases and briefcases. Suitcases and briefcases are available in different sizes, shapes, materials, and price ranges, catering to a wide range of consumer preferences and budgets. The market is also influenced by factors such as changing fashion trends, technological advancements, and the rise of eco-friendly and sustainable products. The global suitcase and briefcase market is projected to grow significantly in the coming years due to the increasing demand for travel bags and corporate bags. North America and Europe hold a significant share of the due to the presence of key manufacturers and high consumer spending. However, the Asia-Pacific region is expected to witness the highest growth rate due to the increasing disposable income of consumers and rising travel and tourism activities.
US Suitcase and Briefcase Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Travel Cases
Fastest Growth
Travel Cases
Growth Rate
6% CAGR
Global Suitcase and Briefcase Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
To get more reports on the above market click here to Buy The Report
Suitcase and Briefcase Market Segmental Analysis
Suitcase and Briefcase Market is segmented by product type, distribution channel, material type, and region. Based on product type, the Suitcase and Briefcase Market can be segmented into travel cases, and business cases. Based on distribution channel, the Suitcase and Briefcase Market is segmented into offline and online. Based on material type, the Suitcase and Briefcase Market can be segmented into leather, fabric, and others. Based on region, the Suitcase and Briefcase Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Suitcase and Briefcase Market Analysis by Product Type
By type, the market can be segmented into travel cases and business cases. Travel cases, which include suitcases, trolleys, and duffel bags, dominate the market in terms of revenue and are expected to continue to do so in the forecast period. This is due to the increasing demand for travel bags as a result of the growing travel and tourism industry. In addition, the rising disposable income of consumers and changing fashion trends are also driving the demand for premium and luxury travel cases.
Business cases, which include briefcases and laptop bags, are expected to witness the highest growth rate during the forecast period, with a projected CAGR of around 8%. This is due to the increasing demand for corporate bags and the growing trend of professional appearance in the workplace. The rising number of business travelers and the increasing adoption of laptops and other electronic devices are also contributing to the growth of the business cases segment.
Suitcase and Briefcase Market Analysis by Distribution Channel
By distribution channel, the market can be segmented into offline and online. The offline market dominates the market in terms of revenue due to the wide availability of luggage stores and the consumer preference to physically examine and purchase products. The offline market includes specialty stores, department stores, and hypermarkets/supermarkets.
However, the online market is expected to witness the rapid growth rate during the forecast period, with a projected CAGR of around 10%. This is due to the increasing penetration of the internet and smartphones, which has made online shopping more convenient and accessible for consumers. The online market includes e-commerce platforms, company websites, and online specialty stores.
Global Suitcase and Briefcase Market Size By Product Type, 2021 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Suitcase and Briefcase Market Regional Insights
North America dominated the global suitcase and briefcase market due to the high disposable income of consumers, a growing preference for luxury and premium products, and increasing demand for travel accessories. The United States is North America's largest market for suitcases and briefcases. The market is also driven by the growing business travel trend and an increasing number of tourists visiting the region..
APAC is expected to be the fastest-growing region in the global suitcase and briefcase market due to the rising disposable income of consumers, increasing urbanization, and a growing middle-class population. China is the largest market for suitcases and briefcases in APAC due to its large population and increasing demand for travel accessories. The growth of the e-commerce industry and the increasing popularity of international tourism also drive the region.
Global Suitcase and Briefcase Market By Geography, 2021-2030
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Suitcase and Briefcase Market Dynamics
Suitcase and Briefcase Market Drivers
Increasing demand for premium and luxury luggage
- One driver for the growth of the global suitcase and briefcase market is the increasing demand for premium and luxury luggage. With rising disposable incomes and changing fashion trends, consumers are willing to spend more on high-quality and stylish luggage. Additionally, the travel and tourism industry is expanding rapidly, leading to a higher demand for travel bags such as suitcases and trolleys. As a result, manufacturers are focusing on developing innovative and functional products that cater to the needs of modern-day travelers, driving the market growth.
Suitcase and Briefcase Market Restraints
Growing concern for environmental sustainability
- One major restraint for the global suitcase and briefcase market is the growing concern for environmental sustainability. The luggage industry is known for using materials such as plastics, which significantly impact the environment. As consumers become more environmentally conscious, there is a growing demand for sustainable and eco-friendly luggage options. This has put pressure on manufacturers to develop products made from sustainable materials and produced using sustainable manufacturing practices. The additional cost of sourcing and using sustainable materials, however, could hinder the growth of the market in the short term.
Request Free Customization of this report to help us to meet your business objectives.
Suitcase and Briefcase Market Competitive Landscape
The global suitcase and briefcase market is highly fragmented, with the presence of numerous regional and global players. The market is characterized by intense competition, rapid technological advancements, and changing consumer preferences. Market players are increasingly focusing on product innovation, sustainability, and brand building to stay ahead in the competition. Moreover, strategic collaborations, mergers, and acquisitions are commonly adopted strategies by market players to enhance their market position. The market is also witnessing the entry of new players, further intensifying the competition in the industry.
Suitcase and Briefcase Market Top Player’s Company Profiles
- Samsonite International S.A.
- Tumi Holdings, Inc.
- VIP Industries Ltd.
- VF Corporation
- Briggs & Riley Travelware
- Rimowa GmbH
- Delsey S.A.
- Victorinox AG
- Ace Co., Ltd.
- LVMH Moët Hennessy Louis Vuitton SE
- Hermes International S.A.
- Prada S.p.A.
- The Coach, Inc.
- Kering S.A.
- Giorgio Armani S.p.A.
- Salvatore Ferragamo S.p.A.
- Dunhill Limited
- Montblanc International GmbH
- Hartmann Luggage
- Travelpro International, Inc.
Suitcase and Briefcase Market Recent Developments
- In February 2023, Tumi launched a new line of eco-friendly suitcases made from recycled plastic and organic cotton.
- In November 2022, Rimowa opened a new store in New York City, featuring a personalized luggage customization service.
- In September 2022, Louis Vuitton, a luxury fashion brand, launched a new line of high-end suitcases featuring artwork by contemporary artist Jeff Koons.
- In July 2022, Travelpro, a popular luggage brand, introduced a new line of suitcases with built-in wireless charging technology for smartphones and other devices.
- In May 2022, Targus, a global supplier of laptop bags and accessories, released a new line of checkpoint-friendly briefcases designed for business travelers.
Suitcase and Briefcase Key Market Trends
- One key market trend in the global suitcase and briefcase market is the increasing adoption of smart luggage. Smart luggage is equipped with various technological features such as GPS tracking, charging ports, and digital scales, which provide convenience and enhance the travel experience for consumers. Smart luggage is becoming increasingly popular among travelers with the increasing use of electronic devices during travel. Manufacturers are investing in research and development to develop innovative smart luggage products, which are expected to drive the growth of the market in the forecast period.
Suitcase and Briefcase Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global suitcase and briefcase market analysis, the market growth is driven by rising disposable income, increasing urbanization, and a growing middle-class population. The market is characterized by rapid technological advancements, changing consumer preferences, and intense competition. Major players in the market are increasingly focusing on product innovation, sustainability, and brand building to stay ahead of the competition. The market is expected to grow steadily during the forecast period, driven by the growth of the e-commerce industry, the increasing popularity of international tourism, and the growing trend of business travel.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 31.90 billion |
| Market size value in 2031 | USD 53.89 billion |
| Growth Rate | 6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Suitcase and Briefcase Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Suitcase and Briefcase Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Suitcase and Briefcase Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Suitcase and Briefcase Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Suitcase and Briefcase Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Suitcase and Briefcase Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
