PROSPECTS AND OPPORTUNITIES
Luxury and value brands set to record growth, while mid-market brands struggle
The bags and luggage market is expected to experience moderate growth over the forecast period, driven by strong performances from luggage and backpacks. Travel remains a key growth driver of growth, as consumers interest in travel continues to grow.
Sustainability will gain pace as brands launch initiatives to offer sustainable products
Sustainability is expected to continue as a key trend over the forecast period, driven by consumer awareness of the environmental impact of material and manufacturing and ethical issues throughout the supply chain. Retailers and brands are expected to continue to engage in more initiatives to offer sustainable products.
Retailers will focus on their omnichannel presence as retail e-commerce continues to gain ground
Retail channels are expected to largely maintain their shares over the forecast period, with retail e-commerce and bag and luggage specialists supported by direct-to-consumer strategies from brands. Retail e-commerce has become a key channel since the outbreak of COVID-19, with brands, retailers and consumers adapting to online shopping.
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Overview:
Understand the latest market trends and future growth opportunities for the Bags and Luggage industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Bags and Luggage industry in Canada, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Bags and Luggage in Canada report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Bags and Luggage in Canada?
- Which are the leading brands in Bags and Luggage in Canada?
- How significant is tourism in determining sales and demand for Bags and Luggage in Canada?
- How are COVID-19 and global recession impacting demand for Bags and Luggage in Canada?
- In the wake of COVID-19, how soon can Bags and Luggage be expected to recover? Where are the opportunities for growth now?
- Where is future growth expected to be most significant?
Bags and Luggage in Canada - Category analysis
KEY DATA FINDINGS
Ongoing interest in travel and luxury handbag sales boost growth for bags and luggage
Michael Kors retains its lead; however, the player struggles to maintain share within handbags
Bag and luggage specialists benefit from direct-to-consumer strategies while retail e-commerce gains ground
Luxury and value brands set to record growth, while mid-market brands struggle
Sustainability will gain pace as brands launch initiatives to offer sustainable products
Retailers will focus on their omnichannel presence as retail e-commerce continues to gain ground
Personal Accessories in Canada - Industry Overview
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for personal accessories?
DISCLAIMER
The following categories and subcategories are included:
Bags and Luggage
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- Backpacks
- Business Bags
- Crossbody Bags
- Duffel Bags
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- Non-Luxury Handbags
- Luxury Handbags
- Wallet and Coin Pouches
- Other Small Bags
- Luggage
Bags and Luggage
Bags and Luggage includes bags and cases which serve common everyday purposes or specific functions during travel, sports, or formal occasions. However, all sports equipment bags (e.g. golf, tennis, and bowling), insulated food and beverage bags, and musical instrument cases are excluded.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Bags and Luggage research and analysis database.
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