Sports Luggage: Introduction
- Sports luggage consists of bags, cases, and containers that help users to carry or store a wide range of sports equipment.
- Major players across the globe in the sports luggage market are offering their customers cost-effective solutions in order to fulfil the requirement of users. This is likely to drive the demand for sports luggage in the coming years.
Rising Dependence on Sport Luggage: A Key Driver
- Rapid growth in number of sports followers coupled with increasing participation in sports and physical activity is likely to drive the growth of the sports luggage market. Rising dependence on luggage while travelling for sports tournaments and carrying or storing a wide range of sports gear is likely to generate demand for sports luggage in the coming years. Rising disposable income along with increasing purchasing power of users is also promoting the growth of the sports luggage market. In addition, rapid growth in the sports industry along with preference for sports gear sets by users is encouraging them to opt for sports luggage.
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Increasing Prices of Raw Material
- Continuous growth in the prices of raw material such as nylon, cotton, and polyester, for manufacturing sports luggage may hamper the growth of the market in the coming years. This is due to inconsistent supply and lack of availability of raw material. In addition, presence of several substitutes for sports luggage may act as a restraint to the growth of the market. However, development of innovative luggage products and collaborating with sports academies, institutes, complexes, and agencies for the supply of sports luggage is an opportunity for the growth of the market.
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Asia Pacific a Potential Market for Sports Luggage
- The global sports luggage market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the sports luggage market in Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, the market in Asia Pacific comprises India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes GCC, South Africa, and Rest of Middle East & Africa. The sports luggage market in South America has been segmented into Brazil and Rest of South America.
- Asia Pacific is expected to remain a potential market for sports luggage during the forecast period owing to increasing participation of people in sports and physical activities in the region.
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Key Players Operating in the Global Sports Luggage Market
The global sports luggage market is highly fragmented in nature, due to presence of a large number of regional and global players. A few of the key players operating in the global sports luggage market are as follows:
- Adidas AG
- ASICS Corporation
- Mizuno Corporation
- New Balance
- Nike Inc.
- Puma SE
- Under Armour Inc.
- VF Corporation
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