Anti-theft Luggage (Anti-cut Luggage) Market Size [2031]

Report Description

Market Outlook:

The Global Anti-theft Luggage (Anti-cut Luggage) Market was estimated at USD 3,480.0 million in 2021 and is anticipated to reach USD 6,426.4 million by 2030, expanding at a CAGR of 7.5% during the forecast period.An anti-theft bag is a purse, backpack, or luggage with built-in safety features. It is designed to prevent theft. Anti-theft bags are referred to as theft-proof bags or slash-proof bags.

These luggage bags have different technical features such as Bluetooth, GPS, Wi-Fi, and built-in battery. The bags have a sleek design and are made of durable and theft-proof materials that make them appealing and stylish. These bags are widely popular among people, due to their notch-proof, polyester fabric, which prevents thieves from nicking the material and stealing something from the bag.

These luggage bags are light in weight and have a removable battery. These bags are manufactured in accordance with the rules and regulations of airlines. Increasing penetration of the internet and changes in the needs and demands of people are leading to innovations in bags. Anti-theft luggage is an upgraded version of traditional luggage with enhanced comfort.

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Macro-economic Factors

GDP

Gross domestic product (GDP) is the standard measure of the value added through the production of goods and services in a country during a certain period. The growing purchasing power of consumers is fuelling economic growth across the globe. Increasing GDP and purchasing power across the globe are raising the demand for consumer goods, which is expected to boost the anti-theft luggage market in the coming years.

Product Demand

Consumers are shifting towards anti-theft luggage, owing to its various characteristics, including slash-resistant body, RFID blocking, and others. The luggage industry is adopting automation in the manufacturing process of anti-theft luggage to reduce the cost of production. High demand for anti-theft luggage among consumers as a result of changing lifestyles across the globe is expected to drive the market during the forecast period.

Tourism Industry

Rising per capita income is propelling the global tourism industry, resulting in a continual expansion in international tourism. Tourism in growing economies, particularly in Latin America and Asia, fueled the global tourist industry during the last five years. The global tourism industry has transformed in the last decade. Developing economies hold a large market share than industrialized economies. Increasing education opportunities in various countries and rising travel and tourism are contributing to the growth of the global anti-theft luggage market.

Market Dynamics

Market Driver- Rising Technological Advancements in anti-theft luggage

Major players in the anti-theft luggage market are anticipated to introduce technologies in anti-theft luggage and start fashion trends. The introduction of a variety of sizes and designs of heritage totes, trolley bags, duffel bags, messenger bags, and clutch bags is expected to propel the market. Anti-theft luggage is gaining traction in recent times and is projected to boost luggage sales.

Anti-theft luggage has features such as Radio-frequency identification (RFID) Blocking, locking compartments, notch-proof fabric, 360-degree wheels, heavy-duty zippers, secret pockets, slash and cut-proof straps, a digital locking system controlled by a smartphone, a GPS tracking system, smartphone & Bluetooth connectivity, an alert system, water-resistant material, dedicated compartments for a particular item, and lock down straps.

Manufacturers of anti-theft luggage are collaborating with technology companies. For instance, Samsonite International has collaborated with Google to launch a device (Track&Go) that aids in tracking and locating luggage. These factors are expected to drive the market in the coming years.

Market Driver- Growing Investment in Product Promotion

Market Product promotion helps to improve the opinions of customers towards the product and the company. It helps drive sales and increase revenue to cover initial research and development costs, manufacturing costs, and product trials. A carefully planned promotional campaign generates large profits once the product gains attention. Marketers tend to focus on the features of the products during promotional campaigns. Demand for technologically advanced, safe, easy-to-use, and durable anti-theft luggage is highly gaining traction from consumers.

Anti-theft luggage has remote lock systems, GPS locator, locking compartments, notch-proof fabric, remote or app-enabled controls, and Wi-Fi or Bluetooth connectivity. These multifunctional and high-tech features of anti-theft luggage, along with its easy availability, make it a technologically advanced alternative to conventional luggage. The promotion of anti-theft luggage as a technologically advanced alternative to conventional luggage is driving the market.

Market Restraint- Availability of Substitutes and Instability in Prices

Substitutes provide choices and alternatives for consumers while creating competition and reducing prices in the market, thus hampering the global anti-theft luggage bag market. Smart bags are an ideal substitute for anti-theft luggage. Smart luggage has an anti-theft feature, an interior battery, and the ability to charge a mobile device from the exterior USB port on the luggage.

Anti-theft luggage has remote lock systems, locking compartments, notch-proof fabric, remote or app-enabled controls, and Wi-Fi or Bluetooth connectivity. Prices of anti-theft luggage fluctuate, due to the volatility of raw material prices. The main determinants that affect the prices of anti-theft luggage are product cost, utility, demand, the extent of competition in the market, government and legal regulations, and pricing objectives. These factors are projected to restrain market growth in the coming years.

Market Opportunity- Rising Environmental Concerns Associated with Cut-resistant Textile Materials

Anti-theft luggage is made from notch-proof fabric, which prevents thieves from nicking the material and stealing anything from the bag. Some types of high-performance fibers commonly used in cut-resistant textile materials include polyethylene fiber and P-benzoxazole polyester fiber. Various types of polyethylene fiber include VLDPE, LDPE, and others.

Polyethylene fiber is not biodegradable and takes hundreds of years to decompose. It releases toxic chemicals and greenhouse gases into the environment during decomposition. Polyethylene fabrics release plastic microfibers into the environment as well as toxic chemicals that harm workers and ecosystems surrounding manufacturing facilities.

Microplastics and volatile compounds poison plants, crops, and entire food chains. They cause harm to the environment and endanger human lives. Many toxic substances are used in the manufacture of polyethylene fabric. They are difficult to fully recover and reuse. Regulations concerning environmental protection are strict in countries such as the US, the UK, China, Japan, and Germany. Hazardous chemicals are not handled or disposed of correctly, resulting in the destruction of wildlife, marine life, and local communities. These factors are expected to hinder the market growth during the forecast period.

Scope of the Report  

The report on the global Anti-theft Luggage (Anti-cut Luggage) market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
 

Segmental Outlook

Based on product types, On the basis of product type, the global anti-theft luggage (anti-cut luggage) market is segmented into backpacks, crossbody, messenger bags, heritage totes, and others. The backpack segment is expected to expand at a CAGR of 7.8% from 2022 to 2030, owing to the lightweight nature of backpacks. Consumers prefer backpacks, due to their better resistance and small size.

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In terms of distribution channels, the global anti-theft luggage (anti-cut luggage) market is segmented into online and offline. The offline segment is further segmented into supermarkets/hypermarkets, specialty stores, convenience stores, and others. The online segment held a market share of 46.6% in 2021 and is expected to expand at a high CAGR of 4.2% during 2022-2030. The market is driven by factors such as increased Internet connectivity, growing adoption of mobile internet devices, and rising consumer awareness.

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Regional Outlook

Based on regions, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held 31.9% market share in 2021 and is projected to expand at a significant CAGR during the forecast period, due to increased consumption of technologically advanced products in the region. The increasing adoption of travel goods in North America is driving the market in the region.

Additionally, Asia Pacific held a 26.6% market share in 2021 owing to the presence of a large number of manufacturers of anti-theft luggage (anti-cut luggage) in several countries, such as China and Japan.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Anti-theft Luggage (Anti-cut Luggage) Market
• Historical, Current, and Projected Market Size in terms of Value
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints, and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on Global Anti-theft Luggage (Anti-cut Luggage) Market Performance