U.S. Luggage and Backpacks Market

U.S. Luggage and Backpacks Market

U.S. Luggages & Backpacks Market By Price Range ($29.99-$59.99, $60.00-$99.99, $100.00-$149.99, $150.00 and Above), By Sales Channel (Online Retails, Offline Retails) – Covid-19 Impact Analysis, Post Covid Analysis, Opportunities, Trends And Forecast From 2021 to 2034

The U.S. Luggages & Backpacks market was valued at $1.12 Billion in 2023 in terms of transaction value and is anticipated to grow at a CAGR of 7.86% from 2024 to 2034. The U.S. PC Hard Side Luggage industry size accounted for $ 2.95 Billion in 2023 and is expected to expand at a CAGR of 8.60% from 2024 to 2034. The U.S. ABS Hard Side Luggage Market size accounted for $ 951.4 Million in 2023 and is expected to expand at a CAGR of 7.79% from 2024 to 2034. The U.S. Backpack Market size accounted for $ 3.20 Billion in 2023 and is expected to expand at a CAGR of 7.56% from 2024 to 2034. This growth is attributed to several macro and microeconomic factors such as

Rise in Travel and Tourism

The rise in travel and tourism is a significant driving factor for the U.S. Luggages & Backpacks market, fueling increased demand for durable, functional, and stylish travel gear. As more people engage in both domestic and international travel for leisure, business, and adventure, there is a growing need for reliable luggage and backpacks that can accommodate a variety of travel needs. This trend is driven by an increase in disposable income, greater accessibility to travel options, and the post-pandemic recovery of the global travel industry, encouraging more people to explore different destinations. The growing popularity of short trips, weekend getaways, and adventure tourism has also led to a surge in demand for lightweight, versatile backpacks and carry-on luggage. Consumers are seeking travel gear that not only offers practicality and durability but also reflects personal style and comfort. Brands are responding by offering more innovative designs with features like built-in charging ports, compartments for electronics, and eco-friendly materials. Additionally, with the expansion of e-commerce, travelers have easier access to a wide range of luggage and backpack options, further boosting market growth. In summary, the rise in travel and tourism drives the U.S. Luggages & Backpacks market by increasing consumer demand for high-quality, functional, and fashionable travel products to meet the diverse needs of modern travelers.

Further several factors restraining the market growth include

The rising problem of online counterfeits

The rising problem of online counterfeits is a significant restraining factor in the U.S. Luggages & Backpacks market, impacting both consumers and legitimate brands. Counterfeit products, which are often sold through online platforms at lower prices, mimic the appearance of genuine brands but lack the quality, durability, and features of authentic items. These fake products not only undermine consumer trust but also damage the reputation of established luggage and backpack manufacturers. For consumers, purchasing counterfeit luggage or backpacks can lead to dissatisfaction, as these items typically wear out quickly, provide inadequate protection for personal belongings, and fail to meet the performance standards of authentic products. This leads to negative experiences that can erode overall confidence in the market. From a business perspective, legitimate brands face revenue loss as counterfeiters cut into their market share by offering cheap, imitation products. Combatting online counterfeits also requires substantial resources, including legal actions and investment in anti-counterfeiting measures, which can divert funds away from innovation and marketing. Additionally, the proliferation of counterfeit goods makes it harder for brands to differentiate themselves, as consumers may struggle to identify authentic products, especially in the crowded online marketplace.

The growing demand for innovative luggage features and collaborations and alliances in the Luggages & Backpacks market are expected to generate higher avenues during the forecast period.

In the wake of the COVID-19 pandemic, supply chain disruptions have led to supply shortages or lower demand in the Luggages & Backpacks market. The pandemic has caused a decline in new orders and a corresponding decrease in Purposeion.

This section will analyze how COVID-19 has impacted supply chains, leading to shortages and lower demand for Luggages & Backpacks.

In terms of COVID-19 impact, the Luggages & Backpacks market report also includes the following data points:

Impact on Luggages & Backpacks market size
Operating Weights Trend, Preferences, and Budget Impact
Regulatory Framework/Outdoor Policies
Key Players' Strategy to Tackle Negative Impact/Post-COVID Strategies
Opportunity in the Luggages & Backpacks market

Key Insight in the report:

The U.S. Luggages & Backpacks market report covers an executive summary, market dynamics, COVID impact & post-COVID scenario, market size and forecast, competitive intelligence, market positioning, and Purposes.

Our report covers extensive competitive intelligence which includes the following data points:

Business Overview
Business Segment Data
Financial Data
Purpose Segment Analysis and Specification
Recent Development and Company Strategy Analysis
SWOT Analysis

Luggages & Backpacks Market Segmentation:

Price Range
$29.99-$59.99
$60.00-$99.99
$100.00-$149.99
$150.00 and Above
Sales Channel
Online Retails
Offline Retails

Key Players Included in the Report:

RIMOWA
VF Corporation
PVH Corp.
New Balance
Samsonite IP Holdings S.à r.l
Nike, Inc.
Under Armour, Inc.
Away
Victorinox
PARAVEL"