NAICS 3161 - Leather and Hide Tanning and Finishing
This industry comprises establishments primarily engaged in one or more of the following: (1) tanning, currying, and finishing hides and skins; (2) having others process hides and skins on a contract basis; and (3) dyeing or dressing furs.
Industry trends:
The luggage industry, categorized under NAICS 3161, has been experiencing several qualitative trends reflecting wider societal and economic changes. One significant trend is the increasing consumer preference for smart and tech-integrated luggage. As travelers demand more convenience and connectivity, luggage products featuring GPS tracking, built-in charging ports, and remote control capabilities are gaining popularity.
Another notable trend is the shift towards sustainable materials and eco-friendly manufacturing processes. Consumers are becoming more environmentally conscious, prompting companies to produce luggage made from recycled plastics, biodegradable materials, and other sustainable resources. This aligns with broader global sustainability goals and resonates particularly well with younger demographics.
Customization and personalization have also become critical trends. As consumers look for unique products that reflect their personal style, companies are offering more options for custom colors, patterns, and monogramming services. This trend taps into the growing demand for individuality and exclusivity in consumer goods.
Looking ahead, the luggage industry is expected to see continuous growth driven by the resurgence of global travel post-pandemic. However, challenges such as supply chain disruptions and changing regulatory standards may impact this growth trajectory. Companies must remain agile and responsive to these dynamics by investing in robust supply chains and staying ahead of regulatory changes.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
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