South America Luggage (Casual, Business, Travel) Market Outlook, 2029

The South America luggage market has been experiencing steady growth in recent years, driven by factors such as the increasing demand for luxury and designer luggage bags among travelers, the rising disposable income of consumers, and the growing tourism industry in the region. The market is projected to continue its upward trajectory, with the South America travel and tourism industry expected to see further growth due to the increasing internet penetration, improving economic status of the countries, and the resulting increase in travel within and across the region. Outbound travel is a major reason for the industry's growth, with tourism contributing significantly to the region's GDP, employment, and total exports. However, despite the huge potential for growth in the luxury luggage market, South American countries have not made strong efforts to become producers of luxury goods. The market is still largely dominated by international brands, with a growing demand for smart luggage features like GPS tracking, USB charging, and digital locks, as well as eco-friendly materials and designs. Luggage has changed a lot over time. Historically, the most common types of luggage were chests or trunks made of wood or other heavy materials. Today's consumer may have a range of bags and cases containing clothing, toiletries, small possessions, trip necessities, and on the return-trip, souvenirs. The market growth can be attributed to the increasing demand for luxury and designer luggage bags among travellers across the globe. The rising disposable income of consumers coupled with the growing tourism industry is also fuelling the demand for luggage bags. According to the research report, "South America Luggage Market Outlook, 2029," published by Bonafide Research, the South America luggage market is projected to add more than USD 1300 Million from 2024 to 2029. The South America travel and tourism industry is expected to see growth due to the increasing internet penetration in the region, improving economic status of the countries and as a result more availability and ability to travel across and within the country. Outbound travel is a major reason for the industry's growth. Year after year the luxury market in South America continues to see growth, often despite unstable economies in some of its countries, demonstrating how important the continent is to luxury. However, despite the huge amount of potential buyers, South countries have not made strong efforts to become producers for luxury goods until now. The number of local brands is now growing, presenting products with a South essence capable of competing with luxury giants worldwide. According to the report, the market is segmented into three major bag types including travel bag, business bag and casual bag. Among these types, travel bag is projected to lead the market during the forecast period followed by casual bag type. The market is segregated into three distribution channels including specialist retailers, factory outlets and internet sales. Among these types, specialist retailer segment is projected to acquire prominent market share whereas increasing penetration of internet across the region boost the internet sales. This segment is projected to grow with significant CAGR during the upcoming timeframe. The availability of a wide range of products, from multiple suppliers and at different price ranges, can be regarded as one of the prime factors driving the demand for travel bags via specialist retailers.

Based on the report, the type is segmented into travel luggage, causal luggage, business luggage, others. The South American luggage market clearly shows variance within different market segments, which is suitable for specific needs and preferences of the travelers. Today, Travel Luggage holds the prominent position in the region's market with tourism growth and tourists visiting those destinations. At present, Brazil, Argentina, and Chile are considered as more toured countries in that region. An individual tourist would need to carry luggage which might be friendly with a different kind of terrain from urban to natural landscapes. Travel Luggage demands are increasing because of the growing adventure tourism and cultural exploration. This luggage needs to support city adventures as well as outdoor activities while being dependable. Casual Luggage has seen tremendous growth. It appeals in particular to youth, backpackers who enjoy easy convenience and mobility. Casual Luggage will be one of the strong segments because backpacking around countries like Colombia and Peru is on the growth path, and the need for flexible, light carrying options becomes crucial to master the uneven streets and public transportation systems. Casual luggage trends are going up because the traveler is looking at more flexible baggage. Business Luggage stays a healthy steady performer because, by and large, professionals are traveling to places for work purposes. Countries having developed business centers, such as Brazil and Chile, know stable demand for this kind of luggage where functionality and design are key. There is the Others category: baggage types that specialize in specific activities, such as sport bags or traveling equipment. This segment is less important than the previous ones, but markets are increasing because interest in these particular activities grows as well-for instance: hiking or sports tourism. Based on the report, the form is segmented into traditional luggage, smart Luggage. South American luggage market is held by Traditional Luggage, and Smart Luggage is growing at a remarkable rate. Traditional luggage continues to be at the top of the market because it has been around for a long time and travelers continue to opt for durability and security. Hard-shell suitcases and soft-sided bags make up Traditional Luggage, which are huge in demand because of their strength in enduring travel across different types of terrains in countries like Brazil, Argentina, and Chile. More traditional designs that appeal well to the mind of the leisure or business-traveling consumer within the geographical region will have credibility and reliability as their hallmarks. Smart Luggage is sky-rocketing as technology integration in consumer products becomes more widespread. Smart luggage features like GPS tracking, built-in chargers, and biometric locks appeal a lot to tech-savvy travelers interested in convenience and enhanced security. This is an especially very popular segment with the younger travelers and the frequent flyers, besides those located in the urban centers, such as São Paulo and Buenos Aires, with a higher concentration of international travel. Rising awareness about smart technology heightens demand; consumers seek newer solutions that make traveling easier and better. Based on the report, the distribution channel is segmented into offline channel, online channel. The Offline Channel dominates the South American luggage market, but the Online Channel is growing very fast. The offline retail channel's dominance is because, traditionally, customers would shop offline and because of the localization of brick-and-mortar across the whole region. Consumers tend to inspect luggage items physically before making a purchase, valuing the tactile experience when trying to assess the quality and durability of an item. Key offline channels include Samsonite, Delsey, and American Tourister, which retail mainly through these offlines, using their robust retail network as a key offline channel in Brazil and Argentina, wherein the consumer will still buy travel-related goods from leaders whom they trust. The Online Channel is picking pace rapidly since the penetration of ecommerce is increasing, and consumer behavior is changing. Such convenience, or even lower prices and a greater number of products, attracts younger crowds seeking to save time. Online marketplaces such as Mercado Libre and Amazon currently hold the lead, while brands like Bluesmart and Away will emerge in the future. Improvement in digital marketing campaigns and internet and social media influences further boost growth by effectively targeting consumers searching for innovative luggage solutions. The COVID-19 pandemic, which pushed the digital adoption, has also been a trigger for its drive to online channels due to consumers' desire for safe alternative shopping options. Hence, whereas for the consumer, the channel offline is the favorite because of its reliability and brand trust, the online channel does have a very high potential for growth since it resonates with changing consumer preference on convenience, variety, and new shopping experiences.

Considered in this report • Geography: South America • Historic Year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • South America Elevator & Escalator Market with its value and forecast along with its segments • Application wise tire industry distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type: • Travel Bag • Causal Bag • Business Bag • Other Bag By Form: • Traditional Luggage • Smart Luggage By Distribution Channel: • Offline Channel • Online Channel The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to elevator & escalator industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.