The Annual Compound Growth Rate Of The Global Luggage Market Is 6%.

2016-2020 years, global

The annual compound growth rate reached 6%.

Lifestyle changes, urbanization and tourism boom have promoted the development of the global luggage market.

With the increasing number of tourists and students going to school and frequent travel at work, the demand for luggage and bags has been further promoted.

It is understood that due to the increase of the disposable income of the global population, the tourism market has developed rapidly, and the number of tourists has increased, and low ticket prices have also stimulated the development of the tourism industry.

In addition, tourism is good for GDP, so all countries are very supportive of the development of tourism.

During the peak season of tourism, demand for luggage and bags increased significantly.

Asia Pacific Region

Market growth is very fast, and is mainly driven by the market of China and India.

Raw material price instability is one of the main factors that impede the development of the global luggage market.

The materials used in the bags include plastic, aluminum, fabric and iron.

The price of raw materials is unstable, which has adverse effects on the product profits of luggage manufacturers.

The largest travel bag Market in 2014 is the Asia Pacific region.

The frequency of leisure activities and travel has stimulated the growth of the travel bag market.

Due to the growth of disposable income and urbanization, the demand for functional bags has increased sharply due to changes in people's lifestyle.

In the forecast period, the growth rate of cities in Africa and Asia is the highest.

According to data from the China Development Research Foundation, the urban population of China will increase from 52.6% in 2012 to 70% in 2030.

Specialty of luggage Market

Including independent sale of bags and other independent retailers.

In 2014, sales of professional retailers in the Asia Pacific region accounted for 50.1% of the market share.

In 2012, the most popular luggage products in Japan were knapsack, wallet and handbag.

The sale of bags includes factory outlets, specialized retailers, stores, supermarkets and electricity suppliers.

Because of the rapid development of the electricity supplier, the online sales volume of bags is increasing very fast.

The global bag suppliers are paying more and more attention to the research and development of raw materials, design and so on. The expenditure on the design and development of innovative products is also gradually increasing, thereby enhancing brand value and increasing product lines.