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1 Market overview
1.1 Definition and presentation
Baggage is a means of equipment which is used for storage purposes. Although used in synonym with luggage, baggage has a wider scope of meaning, and can include items such as travel baggage, casual luggage, business luggage, and sport luggage amongst others.
The global market has seen strong positive growth; CAGR was 4.49% from 2013 to 2018.
The UK market is fragmented and there is a large supply of local and international manufacturers. Moreover, the product range is large, and include for example duffle bags, backpacks, and trolley bags. Key players include Adidas, LVMH Moët Hennessey Louis Vuitton, Samsonite, VIP, and NIKE.
Market growth is strongly correlated to tourism figures. The outlook for this sector is positive and boosted by an increased demand from Emerging Economies; indeed, Eurostat reports that international tourist arrivals to EU-28 will grow by 2.1% per year on average until 2025. The APAC region is projected to drive this demand. The luggage industry should benefit from the rising number of travel abroad. Consumers in the UK go abroad more often during the year; in 2014, the average UK consumer went on holidays 1.2 times per year. In 2019, it went up to 1.9. [ABTA]
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the baggage market | United Kingdom
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