Smart Fashion: It is predicted that demand for luggage-related products will increase due to an increase in urbanization and an increase in customer preference for high-end luggage that comes with technological advancements like GPS trackers, USB ports that allow recharging cell phone batteries, and Bluetooth-enabled locks. The concept of smart luggage is also characterized by improved safety standards and enhanced applications, as well as enhanced connectivity, enabling customers to track and secure their luggage while traveling. These factors are expected to act as a catalyst boosting demand for luggage-related products, thus escalating the growth of the global luggage market.
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Market Limitations: Backpacks and duffel bags replacing handbags are one of the factors limiting the Brazilian handbags market growth. The Millennial generation and other travellers, who take short trips and prefer lightweight luggage that can hold more garments, have a great demand for backpacks and duffle bags. The primary drivers of the expansion of the backpack industry are the rise in tourism, a desire for fashionable travel bags, a rise in business travellers foreign travel, a rise in urbanization, and a shift in lifestyles. Thus, increased demand for backpacks as a way to protect laptops and tablets from harm while traveling is anticipated to challenge market expansion during the forecast period.
Analysts at Ken Research in their latest publication, “Brazil Bags & Luggage Market Outlook 2027F– Driven by rising urbanization & fast fashion trends” by Ken Research observed that Brazil Bags & Luggage Market is in a growth phase & is expected to grow at a CAGR of ~% in the upcoming years owing to fast fashion trends. It is to be noted that the Brazil Bags & Luggage market is fragmented with major global brands occupying almost half of the market with companies competing not only on the basis of product quality, cost, demand for the product & estimated revenue.
Key Segments Covered
- By Product Type
- Travel bags
- Business Bags
- Leisure Bags
- Sports bags
- Others
- By Distribution Channel
- Online
- Offline(Supermarkets, Speciality store, others)
- By Market Structure
- Organized
- Unorganized
- Price category
- Luggage Price Category(Mass Segment, Premium segment, Luxury segment)
- Handbag Price Category (Mass Segment, Premium segment, Luxury segment)
- Backpack Price Category (Mass Segment, Premium segment, Luxury segment)
- Duffel Bag Category (Mass Segment, Premium segment, Luxury segment)
- By Luggage
- Soft Luggage
- Hard Luggage
- Wheeled Luggage
- Non-Wheeled Luggage
Time Period Captured in the Report:
- Historical Period: FY’17- FY’22P
- Base Year: FY’22P
- Forecast Period: FY’23F – FY’27F
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Key Target Audience
- Luggage Manufacturers
- Bags Manufacturers
- Retailer & Distributors
Key Players Covered
- Dolce & Gabbana
- Chanel
- Prada
- Artifact
- Etsy
- Hermes International
- Mulberry
- Giorgio Armani
Key Topics Covered in the Report:
- Executive Summary of Brazil Bags & Luggage Market
- Country Overview of Brazil Bags & Luggage Market
- Overview of Brazil Bags & Luggage Market
- Market Size of Brazil Bags & Luggage Market
- Market Segmentation Brazil Bags & Luggage Market
- Industry Analysis of Brazil Bags & Luggage Market
- Consumer Analysis of Brazil Bags & Luggage Challenges and restrains
- Competitive Analysis of Brazil Bags & Luggage Market
- Future Outlook of Brazil Bags & Luggage Services
- Covid Analysis of Brazil Bags & Luggage Market
- Analyst Recommendations
For more insights on the market intelligence, refer to the link below:-
Brazil Luggage and Bags Market
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