The Europe Suitcase And Briefcase Market would witness market growth of 5.4% CAGR during the forecast period (2023-2030).
The demand for convertible and foldable luggage carriers is increasing as more travelers are favoring versatile luggage bags. Due to how convenient they transport between locations, spinning-wheel suitcases are becoming increasingly popular. A significant factor driving the market's expansion is the introduction of new, cutting-edge products by manufacturing firms.
Technological advancements have led to the development of smart luggage equipped with features like GPS tracking, built-in chargers, and Bluetooth connectivity. These innovations enhance convenience and security for travelers. Advances in materials science have resulted in the use of lightweight yet durable materials like polycarbonate and aluminum in suitcase manufacturing. Lightweight luggage is easier to handle and reduces overall travel weight.
Additionally, increasing employment can lead to a higher number of adult learners pursuing additional education or professional development. As a result, there may be a greater demand for laptop bags and backpacks among students who are also employed. According to Eurostat, 1.4 million students were enrolled in post-secondary non-tertiary education in 2020. The same source also claimed that in 2021, there will be 18.5 million students enrolled in tertiary education in the EU, with 59% of those students pursuing bachelor's degrees.
Moreover, Europe is a popular tourist destination, attracting millions annually. Tourists often require suitcases and travel bags to transport their belongings during vacations and trips. Europe is known for its historical and cultural heritage, including iconic landmarks like the Eiffel Tower in Paris, the Colosseum in Rome, and the Acropolis in Athens. These attractions draw tourists interested in history, art, and architecture. According to Eurostat, in 2021, 56% of EU citizens who were 15 years old or older are expected to have participated in leisure travel, meaning they took at least one trip for these purposes. In summary, the use of suitcases and briefcases in Europe is influenced by practical needs, cultural preferences, and tourism. These factors collectively contribute to the continued demand for these bags in various aspects of European life.
The Germany market dominated the Europe Suitcase And Briefcase Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,081.7 Million by 2030. The UK market is showcasing a CAGR of 4.5% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 6.1% during (2023 - 2030).
Based on Product Type, the market is segmented into Travel Cases, and Business Cases. Based on Distribution Channel, the market is segmented into Offline Trading, and Online Trading.Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Suitcase And Briefcase Market will Hit $50.7 Billion by 2030, at a CAGR of 6.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include VF Corporation, Samsonite International S.A., Hermes International S.A., Kering S.A, Ace Co. Ltd., Bric’s Industria Valigeria Fine SPA, Nike, Inc., LVMH SE, Valigeria Roncato S.p.A., and VIP Industries Limited.
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