The Trunks are set of boxes which help in the organization of different items and accessories. These creatively designed boxes are also utilized to keep belongings in an aesthetically appealing way. It gives a unique touch to the room and enhances the style of the room. While they have been around for several years, they are still preferred among consumers.
Perfect for wedding and housewarming gift ideas, these trunks are made from durable and 100% toxic materials. The growing popularity for trunks stemmed from the huge impact that stylish and design-led home interiors have made in the minds of the homeowner. The trunks market has been gaining incessant growth impetus from the huge aesthetic appeal that re-furnishing, renovating, and decorating homes has garnered amid homeowners across geographies.
Trunks Market – Key Trends
Vintage storage trunks have become a fashionable storage element and save space. Manufacturers strive to meet the decorating requirements of consumers with vintage trunks that help them redefine luxury. Millennials are widely influenced by the vintage theme storage trunks in addition to others, which are thus opening new avenues in the trunks market.
An increasing number of brands have mushroomed on the online stores, recently. This has enabled consumers to choose from an extensive range of trunks. Additionally, market incumbents have found it as a potent platform to demonstrate their products against established players.
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Re-furbishing old trunks and eco-friendly trunks are anticipated to show an upward growth trajectory in the market through the forecast period. Moreover, as the sturdier nature of trunks offers multi-purpose usage, such a factor is anticipated for market growth. For instance, Deep Wicker Storage Trunk by The Basket lady has antique walnut brown or toasted oat finishing. This sturdy trunk can also be used as a table base.
Trunks Market – Growth Restraints
Refurbishing and remodeling through DIY’s of old trunks available at most homes are anticipated to hamper the sales of the trunks market. The availability of fake and inexpensive and alternative trunks might impede market growth. Also, a higher cost of trunks is anticipated to impact the trunk market expansion.
COVID-19 Impact on Trunks Market
A major shift in price, supply, and demand availability has disturbed earlier market pricing in the trunk market. Market players are adapting to their customer’s altering requirements as well as considering long term significances.
Limited availability of skilled labor during the COVID-19 pandemic together with escalating manufacturing cost has become a complicated attribute that is required to be directed. Furthermore, the crisis has put pressure on the manufacturers to shift their business to online platforms to keep the trunk market afloat as consumers are following a strict stay at home orders.
Trunks Market – Region-wise Analysis
In terms of geographies, North America is set to emerge as the most lucrative region in the global trunk market. Majorly driven by the flourishing homeware segment, the region is home to leading manufacturers. Europe is anticipated to reflect an impressive growth due to a growing consumer base and surging demand for vintage trunks.
Trunks Market – Competitive Analysis
Some of the market players identified in the global trunk market are Graice Oaks, Breakwater Bay, Loon Peak, Canora Grey, and Rosalind Wheeler. Market players are focusing on new product launches and preferring online platforms to increase their business footprint. For instance, Brimfield & May are offering a three-piece decorative wooden trunk with a distressed vintage look.
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Woodland Imports has launched a vintage set of three metal trunk boxes with rusty edges and latches for home décor and storage. Distressed finish on the handles and trunk in this set enhances the design aesthetics for a stunning look. 4D Concepts launched two pieces of the urban soft rustic trunk table set. Tapered with metal legs and weather wood top, the trunk offers a wide storage solution.
Global Trunks Market: Key Players (this is an indicative list – full list of key players available upon request)
- Graice Oaks
- Breakwater Bay
- Loon Peak
- Canora Grey
- Rosalind Wheeler
- Fleur De Lis Living
- Mr. MJs
- World Menagerie
- Northlight Seasonal
- Mint Pantry
- Bay Isle Home
- Winston Porter
Regions and Countries Analyzed in the Report
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of LATAM)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
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Trunks Market – Market Segmentation
By Material
- Canvas
- Fabric
- Leather
- Manufactured wood
- Metal
- Wicker & Rattan
- Plastic & Acrylic
- Wood
By Distribution Channel
- Online
- Offline
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