Monday, July 22, 2013

Luggage Market to Grow at CAGR Of 8.1% By 2016

What’s the most important thing while travelling and without it you would feel very incomplete? It’s definitely your luggage. The one thing that goes synonyms with travelling is luggage.  Women specially are said to be the one who carry excess bags and baggage while on the move. If you’re going for a day or months, to a hot or cold climate luggage is a must have.  From toiletries, clothes travel necessities, eateries and while returning from the trip, souvenirs. Carrying a luggage was there in our culture for a very long time. If history is to be believed the first luggage roller was introduced in Palestine to carry weapons and equipments. Then the idea gradually changed from carrying weapon to day to day necessities.

Luggage often referred as baggage or a suitcase was before a mere necessity. Early luggage would be a trunk or a box shaped bag which would be heavy and less travel friendly. But now consumers want a sleek, new and edgy look to their luggage and have become more of a style statement than a necessity. This has kept the luggage market on their toes. From introducing trolley bags to compact size luggage there is a generous use of technology to craft something new and better every time.

The competition is very stiff and the luggage market is one of the fastest growing industries. A market research report states that the global Luggage market is set to grow at a Compound annual growth rate (CAGR) of 8.1% in the next 4 years. Now-a-days people are mostly globe-trotting; this ensures that the luggage market is having a smooth sail.

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