The growing youth and female population, the growth of e-commerce and the focus on non-oil sectors such as tourism will have a strong influence on the bag and luggage industry: Ken Research
GURUGRAM, India, July 1, 2021 / PRNewswire / –
- The target market of the bag and luggage industry in Saudi Arabia includes people of all income categories and includes 33.4 million domestic people as well as 19.7 million international tourist arrivals requiring different types of bags such as as handbags, laptop backpacks or business bags.
- Increased number of expatriates from 9.7 million in 2015 to 10.7 million in 20201. Requiring business bags (including laptop bags) for their daily activities had a positive impact on bag sales in the Kingdom.
- Despite the ups and downs the industry has experienced during the COVID-19 pandemic, Saudi Arabia’s bags and luggage market will revive due to pilgrim visits to Mecca and Medina in the coming year with FIFA 2022 taking place in Qatar which could also increase the number of tourists to Saudi Arabia.
Growth beyond baggage: The luggage category is expected to grow at a CAGR of 11.8% over the coming period in the Saudi Arabia market, but its share of the overall bags and luggage market is still eclipsed by that of bags with luggages. hand leading the charge with a majority share of revenue in the overall bag market in 2025F.
Less popular formats are gaining ground: As consumers will likely opt for domestic destinations over the next few months while focusing on maintaining a healthy lifestyle, a move towards smaller, more practical bags such as gym bags, shoulder bags, and more. backs and weekend bags would be in demand. The company is also focusing on smaller products that may contain items such as hand sanitizer and additional masks that can be folded into a small square when not in use and other accessories such as iPhones and Sun glasses.
Smart luggage: Technology is the main driving force behind the bag and luggage market largely due to the increase in global tourism and the growing trend to integrate luggage with technology. Rising internet penetration could lead to the adoption of smart baggage in Saudi Arabia. However, major manufacturers have yet to officially launch significant “smart baggage” attempts in the country.
The report entitled “Potential assessment in Saudi Arabia Bags and Luggage Market – Driven by the change in lifestyle, the increase in travel and tourism and the inclination of customers to high-end brands” by Ken Research suggested that the bags and luggage market is expected to grow further in the near future due to changing demographics, increasing consumer spending and increasing e-commerce industry. The growth of domestic tourism as well as the increase in the young and female population viewing handbags as a style statement rather than its functional aspect have complemented the growth of the market. The market is expected to register a positive six-year CAGR of 10.1% in terms of revenue during the forecast period 2020-2025F.
Key segments covered in Saudi Arabia Bags and luggage market: –
- By Bags and Luggage
- By type of bags
- Hand bags
- Business bags
- Shoulder bags
- Sports bags
- Document holder
- Other bags (tote, chopsticks, satchels, flaps, hobos, shopping bags, messenger bags, pouches and others)
- By type of baggage
- By rigid baggage capacity
- > 90L
- Wheeled bags
- Others such as jewelry cases, business cases, etc.
- Per Soft Case Luggage Capacity
- > 90L
- Garment bags
- Wheeled bags
- By price range of bags and luggage
- By bag and luggage sales channel
- By bag and luggage retail format
- Local retailers
- By region
- Al khobar
- Mecca and Medina
- Key target audience: –
- Luggage manufacturers
- Bag maker
- Retailers and distributors
Period captured in the report: –
- Historical period: 2015-2020
- Forecast period: 2020-2025
Key topics covered in the report: –
- Presentation of the luggage and bags market in Saudi Arabia
- Saudi Arabia Luggage and Bags Market Size, 2015-2020
- Saudi Arabia luggage and bags market segmentation, 2015-2020
- Growth drivers for the luggage and bags market KSA
- Understand the target market of the bag and luggage industry
- Recommended store layout and proposed commercial framework
- Landscape of local manufacturers, distributors and retailers in Saudi Arabia’s bag and luggage market
- Potential B2B partnership strategy (Partnership with local businesses, schools, CSDs and retailers)
- Saudi Arabia Bags and Luggage Market Competition Scenario
- KSA Luggage and Bags Market Analysis of 4Ps and Prices
- Global practices and global case scenarios that can be adopted in Saudi Arabia
- Technological innovations in the bags and luggage market
- Consumer Decision Making Parameters and Buying Behavior in Saudi Arabia Luggage and Bag Market
- Problems and challenges in Saudi Arabia’s luggage and bags market
- KSA Luggage and Bags Market Outlook and Future Projections, 2020-2025F
- GTM and market opportunities for the KSA luggage and bags market
- Bags and Luggage Market Saudi Arabia
- Bags market Saudi Arabia
- Luggage market Saudi Arabia
- Saudi Arabia Bags and Luggage Market Size
- Saudi Arabia Bags and Luggage Market Revenue
- Target market for bags and luggage Saudi Arabia
- Import of bags and luggage market in Saudi Arabia
- Manufacture of bags and luggage Saudi Arabia
- Saudi Arabia Handbag Revenue
- Business bags Saudi Arabia
- Analysis of bags and luggage 4Ps Saudi Arabia
- Bags and luggage distributors Saudi Arabia
- Saudi Arabia Bags and Luggage Market Ecosystem
- Premium luggage Saudi Arabia
- Marketing and Promotional Strategies Saudi Arabia Market
- Competition Scenario Saudi Arabia Bags and Luggage Market
- Bag and Luggage Competition Scenario in Saudi Arabia
- Bags and Luggage COVID Impact Saudi Arabia
For more information on the research report, refer to the link below: –
Related reports: –
Philippines Luggage and Bags Market Outlook to 2023 – By Bags (Handbags, Backpacks, Shoulder Bags, Duffel Bags, Wallet Pouches, Business Bags, Other Small Bags), By Luggage (Hard Cases) and flexible), by distribution channel
Philippines The bags and luggage market is growing. All the major international players are present in the market and compete aggressively for dominance. Bags are in high demand compared to luggage and the world leader LVMH dominates the market. There is no major national designer brand in the luxury segment. The market has grown in terms of turnover due to the growth of domestic and outbound tourism, an increase in the young and active population and a growing presence of bag and luggage retailers in The Philippines.
India The luggage and bags market experienced double-digit growth during the 2013-2019 review period and was supported by the increase in travel-related spending for leisure and corporate tourism, the growing proliferation online portals, the introduction of affordable products and the shift of consumers from unbranded to quality branded products. The entrance to several inter
national actors have also contributed. Strong growth was seen in the Indian luggage and bag industry mainly due to strong consumer demand, but a depreciation of the US dollar ($) affected the profitability of several manufacturers in India. However, stabilizing the GST rate at 18% (previously 28%) has had a positive impact on consumer demand.
KSA online grocery delivery service has gained traction among consumers as it allows customers to avoid the hassle of crowds, payment queues and parking, and provides convenience as it is not. necessary to be at home to pick up the order. Large grocery delivery companies entered the market between 2016 and 2018. Smartphone users aged 25 to 44 are considered an influential customer base for online grocery shopping. The industry is currently positioned in a growth phase recording a double-digit growth rate close to 44% between 2017 and 2019. The evolution of consumer preferences, the high penetration of smartphones and the regional expansion of local players and international have led to the growth of online grocery services in the Kingdom. The companies have expanded their product portfolios from food and beverage to household items, baby food, fresh food, fish and meat, and other product categories.
Ankur Gupta, Marketing & Communication Manager
SOURCE Ken Research