PROSPECTS AND OPPORTUNITIES
Evolving consumer priorities and economic challenges will hamper growth in forecast period
The economic challenges facing Spain are expected to shape the performance of the category over the forecast period, continuing trends observed during the review period. Spanish consumers have shifted their spending priorities, opting to allocate their disposable income towards leisure activities and travel rather than acquiring bags.
Outdoor markets to keep gaining ground as backpacks benefit from healthy living trends
Price sensitivity continues to play a pivotal role in consumer purchasing decisions and is expected to remain a key motivator in the coming years. Consumers are increasingly seeking ways to minimise costs, often turning to alternative retail channels, including outdoor markets, to find the best deals.
New European luggage regulations and sustainability concerns to shape progress
Over the forecast period, it is anticipated that EU authorities will finalise legislation regarding luggage regulations. At the time of writing, luggage policies were determined locally, with EU recommendations serving merely as guidance.
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Overview:
Understand the latest market trends and future growth opportunities for the Bags and Luggage industry in Spain 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 Spain, 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 Spain 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 Spain?
- Which are the leading brands in Bags and Luggage in Spain?
- How significant is tourism in determining sales and demand for Bags and Luggage in Spain?
- How are COVID-19 and global recession impacting demand for Bags and Luggage in Spain?
- 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 Spain - Category analysis
KEY DATA FINDINGS
Reduced purchasing power slows growth in 2024
LVMH continues to lead, while luxury brands lose ground to mid-priced alternatives
Shifting luggage trends and the rise of sustainable luxury
Evolving consumer priorities and economic challenges will hamper growth in forecast period
Outdoor markets to keep gaining ground as backpacks benefit from healthy living trends
New European luggage regulations and sustainability concerns to shape progress
Personal Accessories in Spain - 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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