Global Luggage Market Size, Share, and COVID-19 Impact Analysis, By Type (Travel Bags, Business Bags, Casual Bags, and Others), By Material (Soft-sided and Hard-sided), By Distribution Channel (Offline and Online), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.
Industry: Consumer GoodsGlobal Luggage Market Insights Forecasts to 2033
- The Global Luggage Market Size was estimated at USD 38.76 Billion in 2023
- The Market Size is expected to Grow at a CAGR of around 7.06% from 2023 to 2033
- The Worldwide Luggage Market Size is Expected to Reach USD 76.66 Billion by 2033
- Asia Pacific is expected to Grow the fastest during the forecast period.
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The Global Luggage Market Size was worth around USD 38.76 Billion in 2023 and is predicted to Grow to around USD 76.66 Billion by 2033 with a compound annual growth rate (CAGR) of 7.06 % between 2023 and 2033. The market is driven by the growth of the travel and tourism sector. Additionally, the trend driving market growth is the development of convertible and foldable luggage, which meets the growing demand for lightweight and portable luggage solutions.
Market Overview
The luggage market refers to the global industry that manufactures, distributes, and sells a variety of travel bags, including suitcases, backpacks, duffel bags, and business travel cases. Luggage consists of robust materials like fabric, leather, and hard plastics, which are usually equipped with compartments, pockets, and handles for effective organization and transport. Furthermore, the market is seeing high growth due to the tourism sector and growing outbound travel among different segments, including millennials and Gen Z. Additionally, the market is also impacted by professional sports and adventure trends, which are creating a demand for high-performance, durable luggage. The athleisure trend is also driving the market as consumers look for versatile bags for both travel and daily use. Moreover, technology and innovation are taking center stage in the market, with sophisticated materials like acrylonitrile-butadiene-styrene (ABS), carbon fiber, and ballistic nylon employed to produce rugged, lightweight luggage. 360-degree wheels, automated features, and digital locks are becoming trendy specifications as well. There are brands such as Avietta, Costa, and Strandbags that supply a variety of luggage products, which include suitcases, briefcases, duffel bags, and backpacks, to meet different consumer demands. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.
Report Coverage
This research report categorizes the luggage market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyzes the key growth drivers, opportunities, and challenges influencing the luggage market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyzes their core competencies in each sub-segment of the luggage market.
Global Luggage Market Report Coverage
Report Coverage | Details |
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Base Year: | 2023 |
Market Size in 2023: | USD 38.76 Billion |
Forecast Period: | 2023-2033 |
Forecast Period CAGR 2023-2033 : | 7.06% |
2033 Value Projection: | USD 76.66 Billion |
Historical Data for: | 2019-2022 |
No. of Pages: | 202 |
Tables, Charts & Figures: | 100 |
Segments covered: | By Type, By Material, By Distribution Channel and By Region |
Companies covered:: | Delsey, Travelpro, Briggs & Riley, Victorinox, Thule, Heys, Rimowa, Samsonite, Tumi, American Tourister, United States Luggage Co. LLC, Valigeria Roncato Spa, and Others |
Pitfalls & Challenges: | COVID-19 Impact, Challenges, Future, Growth, & Analysis |
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Driving Factors
The market for luggage, increasing globalization, and economic development have led to a rise in international tourism and business travel over the past decade and have registered exponential growth in revenues over several factors. One of the primary factors is emerging economies, where middle-class household incomes are increasing, thus opening new expansion opportunities. Additionally, the market will continue its growth path, propelled by the travel and tourism sector, consumer behavior, and technological innovation. Furthermore, sustainability has become an important driver in product development and consumer decisions within the luggage sector. Moreover, companies are increasingly integrating recycled content and sustainable manufacturing processes into their products. The sector is experiencing a wave of green innovations, ranging from recycled polycarbonate cases to biodegradable products, as customers become more aware of the environmental impact. This multi-functionality has been a major factor in driving the revenue growth of the market.
Restraining Factors
The growing problem of online counterfeits is creating serious challenges for the growth of the global luggage industry. Moreover, with the growing penetration of the internet and e-commerce portals, spurious and replica luggage products are becoming easily accessible, which is confusing consumers and compromising the brand image of genuine manufacturers. Additionally, fake goods are almost identical replicas of genuine luggage as far as appearance and design are concerned, but are of extremely poor quality.
Market Segmentation
The luggage market share is classified into type, material, and distribution channels.
- The travel bags segment accounted for the highest share in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the type, the luggage market is segmented into travel bags, business bags, casual bags, and others. Among these, the travel bags segment accounted for the highest share in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to rising affordability and accessibility of traveling options that have motivated more individuals to visit local and global destinations, which has fueled the demand for secure travel luggage solutions. Additionally, changing travel patterns, including experiential and adventure travel, demand luggage that can be durable for various environments and activities.
- The soft-sided segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on material, the global luggage market is divided into soft-sided and hard-sided. Among these, the soft-sided segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven by a soft and lightweight make that has simplified organizing and packing for travelers who find convenience and maneuverability paramount. Moreover, soft luggage has also been observed to be economical compared to its hard-shell equivalents, making it more affordable and accessible to an even wider cross-section of users.
- The offline segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the distribution channel, the global luggage market is categorized into offline and online. Among these, the offline segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segmental growth is due to most customers liking to shop in physical outlets to see and touch the luggage bags themselves before buying. Additionally, having the opportunity to try out the weight, strength, material, and size in person provides customers with more assurance in their purchase, particularly for expensive products such as luggage.
Regional Segment Analysis of the Luggage Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America is anticipated to hold the largest share of the luggage market over the predicted timeframe.
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North America is anticipated to hold the largest share of the luggage market over the predicted period. The dominance is due to the region's increasing disposable incomes and increasing tourism activities. Furthermore, the United States and Canada are the most important markets in this region, with different consumer preferences and market conditions. The region has a well-developed retail infrastructure, a high presence of major luggage brands, and increasing e-commerce penetration.
Asia-Pacific is expected to grow rapidly in the luggage market during the forecast period. The market in the region is driven by a growth in the middle-class population, and rising disposable incomes have fueled expansion in domestic as well as global travel within the region, fueling demand for effective and stylish bag options. Moreover, with increased people traveling on leisure trips, business travel, and educational trips, there is increased demand for bags and suitcases that provide strength, utility, and design appeal.
Competitive Analysis:
The report offers an appropriate analysis of the key organizations/companies involved within the luggage market, along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, business strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Delsey
- Travelpro
- Briggs & Riley
- Victorinox
- Thule
- Heys
- Rimowa
- Samsonite
- Tumi
- American Tourister
- United States Luggage Co. LLC
- Valigeria Roncato Spa
- Others
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the luggage market based on the below-mentioned segments:
Global Luggage Market, By Type
- Travel Bags
- Business Bags
- Casual Bags
- Others
Global Luggage Market, By Material
- Soft-sided
- Hard-sided
Global Luggage Market, By Distribution Channels
- Offline
- Online
Global Luggage Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
Frequently Asked Questions (FAQ)
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1. What is the CAGR of the luggage market over the forecast period?The global luggage market is projected to expand at a CAGR of 7.06% during the forecast period.
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2. What is the market size of the luggage market?The global luggage market size is expected to grow from USD 38.76 billion in 2023 to USD 76.66 billion by 2033, at a CAGR of 7.06% during the forecast period 2023-2033.
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