Singapore Sports Luggage Market (2024-2030) | Share, Growth, Industry, Companies, Outlook, Analysis, Size, Revenue, Forecast, Trends & Value

Singapore Sports Luggage Market Synopsis

The Singapore sports luggage market is expected to grow at a CAGR of 4.3% during the forecast period 2020-2026. The growing popularity of outdoor activities such as camping, hiking and biking among consumers in Singapore has propelled the growth for travel bags and suitcases that are specifically designed to cater to these activities. Growing trend of corporate team building events which involve active participation from employees have increased the demand for specialized backpacks with all necessary amenities required during these activities. Furthermore, increasing investments by various companies into R&D leading to new innovative products relevant to consumer`s needs will also drive the market growth in this region over the forecast period.

Market Drivers

Growing disposable income amongst middle class households in Singapore has resulted in higher spending on leisure activities and adventure trips around Asia Pacific region. This rise in tourism industry is further contributing towards growth of sports luggage market as more individuals seek durable bags according to their traveling requirements during any sporting activity or adventurous trip they undertake. Other factors driving growth include increasing awareness about health and fitness through various campaigns organized by government agencies, rising inclination towards healthy lifestyle along with availability of lightweight materials used for manufacturing these luggages which provide better durability, strength & flexibility even after regular usage has significantly contributed towards higher acceptance among customers.

Market challenges

High cost associated with purchase of branded sports luggage remains an issue faced by many customers due its expensive raw materials coupled with high production costs involved in research & development process undertaken before launching a product into market hence making it difficult for budget conscious buyers looking out for cheaper alternatives available within same segment.Moreover presence large number local players offering similar products at lower price points compared to branded goods although lacking quality standards are adversely affecting sales volume thereby hampering profitability margins especially among established vendors operating within same sector.

Key players

Some key players operating within Singapore Sports Luggage Market includes Samsonite International SA., VF Corporation, VIP Industries Ltd., American Tourister (Umbro), Antler UK Ltd., Big Ben Bags Pvt Ltd., Briggs & Riley Travelware LLC, Carlton London Group PLC.

Covid-19 Impact

Due to drastic decline witnessed across hospitality sector owing lockdown restrictions imposed throughout 2020 outbreak novel coronavirus pandemic impacted sales figures recorded within global sports luggage industry primarily due closure tourist destinations affected where majority travelers usually carry light weight bags when going somewhere thus resulting significant revenue losses suffered amidst entire value chain ranging from manufacturers till retailers.

Key Highlights of the Report:

• Singapore Sports Luggage Market Outlook
• Market Size of Singapore Sports Luggage Market, 2023
• Forecast of Singapore Sports Luggage Market, 2030
• Historical Data and Forecast of Singapore Sports Luggage Revenues & Volume for the Period 2020-2030
• Singapore Sports Luggage Market Trend Evolution
• Singapore Sports Luggage Market Drivers and Challenges
• Singapore Sports Luggage Price Trends
• Singapore Sports Luggage Porter's Five Forces
• Singapore Sports Luggage Industry Life Cycle
• Historical Data and Forecast of Singapore Sports Luggage Market Revenues & Volume By Product Type for the Period 2020-2030
• Historical Data and Forecast of Singapore Sports Luggage Market Revenues & Volume By Golf for the Period 2020-2030
• Historical Data and Forecast of Singapore Sports Luggage Market Revenues & Volume By Ball Sports for the Period 2020-2030
• Historical Data and Forecast of Singapore Sports Luggage Market Revenues & Volume By Racket Sports for the Period 2020-2030
• Historical Data and Forecast of Singapore Sports Luggage Market Revenues & Volume By Hockey for the Period 2020-2030
• Historical Data and Forecast of Singapore Sports Luggage Market Revenues & Volume By Cricket for the Period 2020-2030
• Historical Data and Forecast of Singapore Sports Luggage Market Revenues & Volume By Others for the Period 2020-2030
• Historical Data and Forecast of Singapore Sports Luggage Market Revenues & Volume By Applications for the Period 2020-2030
• Historical Data and Forecast of Singapore Sports Luggage Market Revenues & Volume By Professional Users for the Period 2020-2030
• Historical Data and Forecast of Singapore Sports Luggage Market Revenues & Volume By Recreational Users for the Period 2020-2030
• Historical Data and Forecast of Singapore Sports Luggage Market Revenues & Volume By Distribution Channel for the Period 2020-2030
• Historical Data and Forecast of Singapore Sports Luggage Market Revenues & Volume By Online for the Period 2020-2030
• Historical Data and Forecast of Singapore Sports Luggage Market Revenues & Volume By Offline for the Period 2020-2030
• Singapore Sports Luggage Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Applications
• Market Opportunity Assessment By Distribution Channel
• Singapore Sports Luggage Top Companies Market Share
• Singapore Sports Luggage Competitive Benchmarking By Technical and Operational Parameters
• Singapore Sports Luggage Company Profiles
• Singapore Sports Luggage Key Strategic Recommendations