Luggage - Global Strategic Business Report

Luggage Market Recovers from Economic Recession in Sync with Revival in Travel & Leisure Activity

The global market for Luggage was valued at US$41.4 Billion in 2024 and is projected to reach US$61.7 Billion by 2030, growing at a CAGR of 6.9% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Luggage Market - Key Trends and Drivers Summarized

How Has Technology Transformed the Luggage Industry?

The luggage industry has witnessed remarkable transformations driven by technological advancements. Smart luggage, featuring GPS tracking, built-in charging ports, and electronic locks, has revolutionized the way travelers interact with their baggage. These innovations cater to the tech-savvy consumer, offering convenience and security. Additionally, the integration of lightweight, durable materials such as polycarbonate and aluminum has enhanced the functionality and aesthetic appeal of luggage. These materials not only provide superior protection for belongings but also contribute to ease of handling and transport. Innovations in manufacturing processes, such as 3D printing and modular design, allow for greater customization and faster production times, meeting the diverse needs of modern travelers. The technological evolution of luggage reflects a broader trend towards making travel more seamless and efficient, setting new standards in the industry.

What Are the Key Consumer Trends Shaping the Luggage Market?

Consumer behavior plays a crucial role in shaping the luggage market. In recent years, there has been a significant shift towards more sustainable and eco-friendly products. Consumers are increasingly demanding luggage made from recycled materials and produced through environmentally conscious methods. Brands responding to this trend are gaining favor, as sustainability becomes a key purchasing criterion. Furthermore, the rise of minimalistic travel culture, driven by the popularity of budget airlines and carry-on restrictions, has spurred demand for compact, multi-functional luggage that maximizes space efficiency. Another noteworthy trend is the growing preference for personalized and customizable luggage. Consumers seek to express their individuality through unique designs, colors, and features, pushing manufacturers to offer a wider array of options. The luggage market is thus evolving to meet the changing preferences and priorities of travelers.

How Are Retail Dynamics Influencing the Luggage Market?

The retail landscape for luggage is also undergoing significant changes, influenced by the broader shifts in consumer shopping habits. E-commerce platforms have become a dominant sales channel, offering consumers the convenience of browsing and purchasing luggage from the comfort of their homes. This shift has prompted traditional brick-and-mortar stores to innovate, integrating online and offline experiences through omni-channel retail strategies. In-store experiences are being enhanced with interactive displays, augmented reality, and personalized customer service to compete with the ease of online shopping. Additionally, direct-to-consumer (DTC) brands are gaining traction by bypassing traditional retail channels, offering high-quality products at competitive prices. These brands often leverage social media and digital marketing to build strong connections with their customer base, creating a loyal following. The interplay between online and offline retail dynamics continues to shape the competitive landscape of the luggage market.

What Factors Are Driving the Growth in the Luggage Market?

The growth in the luggage market is driven by several factors. Firstly, the increasing frequency of both leisure and business travel fuels demand for diverse types of luggage to suit different travel needs. As more people travel internationally, the need for durable, secure, and functional luggage becomes paramount. Technological advancements, such as smart luggage features, cater to the tech-savvy consumer looking for convenience and security. The trend towards sustainable products has also opened new market opportunities, with eco-conscious travelers seeking environmentally friendly options. Additionally, the rise of experiential travel, where consumers prioritize unique and memorable travel experiences, drives demand for specialized luggage that can accommodate specific activities, such as hiking, skiing, or adventure travel. The influence of social media and the desire for personalized products further propel market growth, as consumers look for luggage that reflects their personal style and meets their specific needs. The luggage market, therefore, is expanding in response to these diverse and evolving consumer demands.

Report Scope

The report analyzes the Luggage market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments

Product Type (Suitcases / Travelling Bags, Casual / Regular Use Bags, Business / Computer Bags); Distribution Channel (Offline, Online).

Geographic Regions/Countries

World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Suitcases / Travelling Bags segment, which is expected to reach US$31.4 Billion by 2030 with a CAGR of a 7.3%. The Casual / Regular Use Bags segment is also set to grow at 6.1% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $11.0 Billion in 2024, and China, forecasted to grow at an impressive 11.1% CAGR to reach $14.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as Ace Co. Ltd., Antler Ltd., Bric's Industria Valigeria Fine SPA, Delsey S.A, Eagle Creek Inc. and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Luggage Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Luggage Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Luggage Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Some of the 283 major companies featured in this Luggage market report include:

• Ace Co. Ltd.
• Antler Ltd.
• Bric's Industria Valigeria Fine SPA
• Delsey S.A
• Eagle Creek Inc.
• Etienne Aigner AG
• JanSport Inc.
• Kipling North America
• LVMH Moët Hennessy Louis Vuitton
• Nike Inc.
• Samsonite International S.A.
• Targus
• Travelpro Products Inc.
• Valigeria Roncato
• VF Corp.
• VIP Industries Ltd.