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Rising disposable income to trigger the growth of anti-theft luggage market

Rising disposable income to trigger the growth of anti-theft luggage market

Technological advancements associated with backpacks such as shockproof, lightweight, slash proof and other such developments are anticipated to foster the growth of anti-theft backpack market.

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backpack, gear bag, duffel, wheeled bags and others. Among these segments, backpack segment is expected to occupy the top position in anti-theft luggage market during the forecast period.

On the other hand, wheeled anti-theft luggage segment is anticipated to witness noteworthy growth during the forecast period owing to increasing corporate travels and tourism across the globe.

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Global anti-theft luggage market is expected to flourish at a double digit CAGR during the forecast period. Moreover, the global anti-theft luggage market is anticipated to garner noteworthy revenue by the end of 2024.

Rise in number of travels coupled with increasing travel related expenditures are believed to the dynamic factor behind the growth of anti-theft luggage market during the forecast period.

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North America accounted for the largest market share of overall anti-theft luggage market in 2016. This can be attributed to the high disposable income of the population. 

Further, adequate awareness and presence of key manufacturing companies in the region is anticipated to foster the growth of the North America anti-theft luggage market during the forecast period. Furthermore, Asia Pacific anti-theft luggage market is expected to register exponential growth over the next few years.

Significant growth in travelling owing to the rising disposable income is likely to spur the growth of the anti-theft luggage market in the Asia Pacific region.

Rise in Number of Travels and Tourism

Increasing corporate tourism across the globe is one of the key growth drivers of anti-theft luggage market. Further, rise in travel expenditure has been witnessed in recent years.

This factor is anticipated to strengthen the growth of the anti-theft luggage market. Furthermore, rising disposable income of the population is also anticipated to garner the growth of the anti-theft luggage market.

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Technological Advancements and Developments

Recent technological advancement associated with the anti-theft luggage products such as RFID blocking protection, slash proof technologies, stainless wire meshing and other development are expected to drive the growth of the anti-theft luggage market. Further, various anti-theft luggage manufacturers are focusing on the superior designs and development of other technologies.

This factor is expected to boost the growth of anti-theft luggage market in the upcoming years.

Although, high cost of anti-theft luggage and lack of awareness in undeveloped regions are some of the factors that are likely to inhibit the growth of the global anti-theft luggage market in the near future.

The report titled “Anti-theft Luggage Market: Global Demand Analysis & Opportunity Outlook 2024delivers detailed overview of the global anti-theft luggage market in terms of market segmentation by product type, by gender, by distribution channel and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global anti-theft luggage market which includes company profiling of Outpac Designs Ltd., Travelon, Eagle Creek, Canada Luggage Depot, XD Design, FIB, Kopack, Uoobag, Joyelife and Megallan’s. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.

On the whole, the report depicts detailed overview of the global anti-theft luggage market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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