Sports Luggage Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019-2029

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Sports Luggage Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019-2029

Status : September, 2022 | Consumer Goods

Report Digest

Sports Luggage Market: Overview

As per a report published by the WHO in 2016, approximately 340 million children and adolescents in the age group 5 to 19 years were either overweight or obese. The rate of obesity has multiplied three times since 1975. And, the statistics is true on global level.

Obesity and overweight are inviting factors to many health issues and diseases. Thus, to avoid this, for prevention, people are involving into some or other kind of physical activities. 

In addition, parents are becoming concerned about health of their children and are motivating them to participate in sports activities. As per report published by Sports & Fitness Industry Association (SFIA), percentage of children with no physical activity is declining substantially in recent years.

Adoption of sports activities is one of the key factors contributing majorly to global sports luggage market.

The upcoming report on sports luggage market is a comprehensive analysis of the market. It provides insights about different factors contributing to the growth of global sports luggage market. The report also discusses regional segments and its role in penetrating the global sports luggage market over the course of forecast period (2019 and 2029).

Sports Luggage Market: Notable Development

Lately, the news of NBA teaming up with Louis Vuitton has flooded in the sports luggage market. As per the report, the luxury brand will be producing travel case for winning team of Larry O’Brien Trophy. Besides, a collection of accessories and clothes will also be gifted to the league, annually.

The collaboration will profit both the organizations mutually. For Louis Vuitton specifically, it is likely to attract new set of customers belonging to sports background. The brand will also be able to enhance its diversity by including sports culture in the product line.

Some of the key manufacturing companies in sports luggage Market are-

  • Callaway Golf Company
  • Under Armour
  • Amer Sports
  • Bridgestone Corporation
  • Adidas AG
  • Acushnet Holdings Corp
  • VF Corporation
  • Nike
  • Puma
  • Yonex Co.

Sports Luggage Market: Key Trends

Active participation in sports by individuals of age groups is one significant trend anticipated to drive sports luggage market. Besides, sports tourism is helping to garner further revenue for sports luggage market. Demand for lightweight bags that can carry several sports equipment is increasing.

In addition, rising disposable income in various developing economies is one of the key factors facilitating adoption of sports as an activity. This factor is influencing sports luggage market substantially.

Introduction of various sports channel is helping in spreading awareness about sports. At the same time, it is boosting the adoption rate of sports activities, as it provides the chance of getting broadcasted. As a result, people are opting sports as a career options on a large scale.

On the other hand, easy availability of counterfeit products is affecting global sports luggage market. The counterfeit products are available at comparatively lower price. As a consequence, sale of branded products will be affected on large scale.

Sports Luggage Market: Regional Analysis

Registering the participation rate in sports and increasing sports tournament in Asia Pacific, the region is anticipated to be a leading contributor to the growth of sports luggage market. Rising disposable income of the population in the region is also acting as a fuelling factor. Demand for better sports luggage from consumers is presenting opportunities for manufacturers to strengthen their foothold in the regional market.

Government bodies are introducing regulatory norms to create suitable environment for sports. This is likely to create growth opportunities for sports luggage market in the duration of forecast period.

North America is likely to follow Asia Pacific. Growth in the market is attributed to increasing number of young participants in sports. South and Central America is anticipated to witness substantial growth in the course of forecast period.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?