Leather Luggage And Goods Market Expected to Account for US$ 525 Bn by 2022

Global Market Study on Leather Luggage and Goods Market: Travel Bags to Represent a
Leading Segment during 2017 - 2022
Innovatively designed baggage & leather goods will remain in great demand as tourists from all
parts of the world will prefer travelling in style. Soaring demand for trendy suitcases and hand bags
will also be instrumented by higher durability of leather goods and luggage. A latest report
published by Persistence Market Research projects that during the 2016-2024 forecast period, the
global market for luggage & leather goods will reach US$ 361,326.1 Mn value. The report further
estimates that the market, which is presently valued a little over US$ 244,000 Mn, will soar steadily
at a CAGR of 5%.
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Flourishing tourism industry is directly boosting the global sales of luggage & leather goods, with
favors pouring in from both domestic and international tourism.
However, the demand for luggage & leather goods is also expected to witness restrain from surging
adoption of substitute materials. The demand for leather luggage products is expected to lose
traction, gradually, to polyester, nylon, rexine, and other equally-durable synthetic materials.
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Rising demand for lightweight bags, organic leather products and affordable luggage goods is also
expected to favor the growth of global market for luggage & leather goods. Over nine out of every
ten luggage goods sold in the world will continue to be leather goods. The report predicts that by
the end of 2024, the world will have witnessed sales of US$ 331,000 Mn worth of leather goods.
Among which, footwear and leather accessories are anticipated to be top-selling leather products.
The report further reveals that specialty & multi brand stores, single brand stores, and general retail
outlets will collectively serve as largest sales channels for luggage & leather goods. In 2016, over
2,000 million units of luggage & leather goods were sold through general retailers, while online
sales accounted for a little over 4.5% revenue share. Key findings in the report also exhibit that
North America and Europe will collectively dominate the global market for luggage & leather
goods. Nevertheless, these regions are likely to showcase value CAGRs below 5%. Contrary to this,
Latin America’s luggage & leather goods market is projected to soar at 5.3% CAGR. Asia-Pacific
region, on the other hand, will witness fastest revenue growth at 5.8% CAGR.
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The report has also profiled globally-prominent manufacturers of luggage & leather goods, which
include, Knoll, Inc., Samsonite International SA, Hermes International SA, American Leather, Inc.,
Aero Leather Clothing Ltd., Timberland, Woodland, Johnston & Murphy, LVMH Moët Hennessy
Louis Vuitton SE, and VIP Industries Ltd.
Global Market Study on Luggage and Leather Goods is available at $4900 @