Despite the general economic
conditions worldwide being uneven in 2012, the luggage market witnessed a
significant growth. The travel and tourism market, a key driver of luggage
business, continued to expand, with global inbound tourists reaching 1.0
billion for the first time in 2012. Asia Pacific region showed the strongest
growth in inbound tourism while in more mature markets increase in the number
of budget airlines continued to drive demand. Changing regulations on cabin
baggage on aircrafts and the increasingly common practice of weight-based
charging for hold baggage have made consumers more aware of volume capacity and
lightness in luggage.
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As a result of these changes,
manufacturers are focusing on innovative designs that are light-weighted.
Polycarbonate resin for making ultra lightweight luggage bags are in huge
demand. Travel goods like handbags, smartphones and tablet covers and backpacks
were most popular categories among consumers.
The global luggage market is
intensely competitive with the presence of both organized and unorganized
players. Samsonite remains the undisputed leader in the worldwide luggage
market, followed by VF Corporation, Tumi, Ace, Delsey, VIP, and Rimowa, among
others. Competition is largely based on the brand name; product pricing,
quality, and design; product technology; and advertising, among other such
factors.
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