The Latin America, Middle East and Africa Suitcase And Briefcase Market would witness market growth of 7.6% CAGR during the forecast period (2023-2030).
The market is a segment of the luggage and travel accessories industry, catering to consumers' needs for storage, organization, and transportation of personal and professional belongings. The market offers diverse products, including suitcases, carry-on luggage, travel backpacks, rolling duffel bags, laptop briefcases, messenger bags, and more. These products come in various sizes, materials, and designs to meet specific travel and work requirements.
The market has expanded as a result of the rapidly growing travel and tourist industry, rising urbanization, shifting consumer preferences, and consumer purchasing power. The broad consumer base is attracted by the product's availability in a variety of sizes, colors, shapes, and design patterns, which fuels market expansion. Suitcases and briefcases are regarded as fashion-forward objects, and the status symbols associated with owning one for some people drive up demand for expensive goods.
In LAMEA, a key factor influencing suitcase and briefcase demand is the prevalence of global business events and conferences. Major cities in the Middle East and Africa, such as Dubai and Johannesburg, host international conferences, trade shows, and exhibitions. Attendees and exhibitors often require professional luggage to transport business materials and personal items. This factor contributes to the demand for high-quality, functional, and durable briefcases and suitcases designed to meet the needs of business travelers attending these events. Hence, the demand for suitcases and briefcases in the LAMEA region is influenced by cultural diversity, tourism, economic development, business events, and sustainability considerations.
The Brazil market dominated the LAMEA Suitcase And Briefcase Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,349.6 Million by 2030. The Argentina market is experiencing a CAGR of 8.1% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 7.3% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Suitcase And Briefcase Market is Projected to reach USD 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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