Global market size: According to data, the market size of the global luggage industry showed a fluctuating upward trend from 2016 to 2019, with a CAGR of 4.24%, and the global scale reached the highest value of US$153.576 billion in 2019; The market size decreased by 20.2% year-on-year; as the world enters the post-epidemic era, the luggage industry has also begun to recover. In 2021, the global luggage industry market will exceed 120 billion US dollars.
The background of the development of the Chinese market: the luxury market continues to develop: data show that since 2018, my country's personal luxury goods market has grown rapidly, and its global share has continued to increase. In 2020, the proportion of domestic consumption of luxury goods will rebound. The penetration rate has been increasing. Luggage is one of the main categories of luxury goods. As the overall penetration rate of luxury goods increases, the trend of high-end luggage continues to advance.
The size of the Chinese market: From 2006 to 2019, the domestic luggage market has been on the market, with a CAGR of 11.06%, which is nearly three times the global growth rate. Affected by the epidemic, it will drop by 9.88%; the market size of the industry will rebound in 2021.
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