What is the global market size of the Suitcase and Briefcase Market?

Global Suitcase and Briefcase Market size was valued at USD 30.2 billion in 2021 and is poised to grow from USD 31.9 billion in 2022 to USD 49.6 billion by 2030, growing at a CAGR of 6% in the forecast period (2023-2030).

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

Q: Who are the key vendors in the Global Suitcase and Briefcase Market?

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. '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.'

Q: What is the key driver of the Global Suitcase and Briefcase Market?

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.

Q: What is the key market trend for the Global Suitcase and Briefcase Market?

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.

Report ID: SQMIG30L2101 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 86 | Figures: 76

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.

Suitcase and Briefcase Market Report Snapshots

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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 suitcase and briefcase market is highly fragmented, with the presence of numerous regional and 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. '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.'

One driver for the growth of the 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.

One key market trend in the 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.

North America dominated the 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..

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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

Suitcase and Briefcase Market Regional Insights

Suitcase and Briefcase Market Report Snapshots

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FAQs

What is the market size of Suitcase and Briefcase Market?

Who are the key vendors in the Suitcase and Briefcase Market?

What is the key driver of Suitcase and Briefcase Market?

What is the key market trend for Suitcase and Briefcase Market?

Which region accounted for the largest share in Suitcase and Briefcase Market?

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