Luggage and Bags Market Research, 2035
The global luggage and bags market was valued at $116,009.0 million in 2023, and is projected to reach $235,699.7 million by 2035, registering a CAGR of 6.4% from 2024 to 2035.
Luggage are types of bags and containers designed for transporting personal belongings during travel. These items come in various forms, including suitcases, backpacks, duffel bags, and briefcases, each tailored to specific needs of individuals. Luggage is made from durable materials such as fabric, leather, and hard plastics, that often features compartments, pockets, and handles for efficient organization and carrying. Luggage and bags are available with options ranging from practical and utilitarian to fashionable and luxurious bags.
Market Dynamics
Increase in domestic and international travel, coupled with rise in disposable incomes, fuels the demand for durable and stylish luggage and bags options. Technological advancements in materials and design enhance product durability and functionality, further driving the market growth. In addition, changing consumer preferences toward convenience and customization contributes to the growth of the luggage and bags market as well as increase the Luggage and Bags Market Size.
Increase in international tourism has significantly boosted the global luggage and bags market. International tourism recovered nearly 90.0% of its pre-pandemic levels revenue by the end of 2023. According to the data from the United Nations World Tourism Organization (UNWTO), approximately 975 million tourists traveled internationally between January and September 2023, which represented a 38.0% increase as compared to the same period in 2022. As more people travel for leisure, business, and education purposes, the demand for reliable and durable luggage is anticipated to increase. Tourists need suitcases, backpacks, duffel bags, and other travel accessories to carry their belongings efficiently and securely, which drives the global Luggage and Bags Market Growth .
In addition, the rise in tourism has driven the need for specialized luggage designed for specific purposes. For instance, adventure travelers seek rugged, durable bags that can withstand harsh conditions, while business travelers look for sleek, functional cases that accommodate their professional needs. Diversification in different types of luggage allows companies to tap into niche markets and meet the unique demands of various traveler segments. Moreover, surge in travel activities prompts manufacturers to innovate and offer diverse products catering to different types of travelers, such as lightweight luggage for convenience, smart luggage with built-in technology for tech-savvy users, and fashionable luggage for style-conscious customers. As a result, the luggage market has experienced rapid growth in sales volumes in recent years. Furthermore, an increase in travel activities has encouraged consumers to invest in higher-quality, long-lasting luggage, which has boosted the overall revenue of the luggage and bags market.
However, the presence of counterfeit luggage poses a significant restraint on the demand for luggage bags. Counterfeit products reduce consumer trust and confidence in the market, leading to dissatisfaction with the quality, durability, and performance of the product. Moreover, the proliferation of counterfeit goods contributes to revenue losses for legitimate manufacturers and retailers, as well as potential legal and financial liabilities associated with intellectual property rights infringement, affecting the Luggage and Bags Market Share .
In addition, the presence of counterfeit luggage creates unfair competition within the market, as counterfeiters undercut prices and offer seemingly identical products at a lesser cost. The price difference leads to unfair competition, which affects the revenue and profitability of genuine brands and suppresses innovation and investment in product development. Furthermore, sale of counterfeit luggage undermines efforts to ensure consumer safety and compliance with regulatory standards, as counterfeit products may not undergo rigorous quality control measures or adhere to safety regulations, posing potential risks to and safety of consumer belongings. Thus, the rise in prevalence of counterfeit luggage represents a significant challenge for the global luggage market, hindering the market growth, damaging brand reputation, and compromising consumer trust and safety.
Moreover, the increase in demand for smart luggage presents significant opportunities in the global luggage market, which drives innovation and reshapes consumer expectations. Smart luggage integrates technology into traditional luggage designs, that offers features such as GPS tracking, built-in scales, USB charging ports, and remote locking systems. These advanced functionalities cater to the needs of modern travelers seeking convenience, connectivity, and security during their journeys. As travelers become more tech-savvy and reliant on digital solutions, the demand for smart luggage is expected to rise, which is anticipated to create a lucrative opportunity for manufacturers and retailers operating in the global luggage and bags market.
Segmental Overview
The luggage and bags market is segmented into type, material type, distribution channel, and region. By type, the market is categorized into luggage and bags. The luggage segment is further divided into casual luggage, travel luggage, business luggage, sports luggage and others. The bags segment is segregated into handbags, cross-body bags, sling bags, clutches & coin pouch, wallets and others. By material type, it is categorized into hard luggage, soft luggage, and hybrid luggage. By distribution channel, the market is divided into offline and online. By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (France, Germany, Italy, Spain, UK, Russia, Austria, Switzerland, Belgium, Netherlands and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, rest of LAMEA).
By Type
By type, the bags segment dominated the global luggage and bags market in 2023 and is anticipated to maintain its dominance during the forecast period. According to Luggage and Bags Market Trends, increase in affordability and accessibility of travel opportunities has encouraged more people to explore domestic and international destinations, driving the need for reliable travel bags solutions. Evolving travel preferences, such as the rise of experiential and adventure travel, require bags that can withstand diverse environments and activities. Moreover, advancements in design and technology have led to innovative features in bags, such as lightweight materials, built-in charging ports, and smart tracking systems, enhancing convenience and functionality for travelers. In addition, changes in lifestyles, including the growth of remote work and digital nomadism, have created a demand for versatile bags options that cater to both professional and leisure travel needs.
By Type
The Luggage segment would witness the fastest growth, registering a CAGR of 5.4% during the forecast period.
By Material Type
By material type, the soft luggage segment dominated the global luggage and bags market in 2023 and is anticipated to maintain its dominance during the forecast period. The lightweight and flexible construction of soft luggage has made it easier to plan and pack, appealing to travelers who prioritize convenience and versatility. Soft luggage and bags also tend to be more affordable than hard shell options, which makes it accessible to a broader range of consumers. In addition, soft luggage often features expandable compartments, that allows travelers to maximize packing space when needed. The fabric exterior of soft luggage provides some level of flexibility that makes it easier to fit into overhead compartments or tight spaces, which has increased Luggage and Bags Market Demand .
Moreover, the rise in casual travel and adventure tourism has increased the demand for soft luggage among outdoor enthusiasts and backpackers who require durable yet lightweight bags for their expeditions. Thus, the combination of affordability, versatility, and practicality drives the continued demand for soft luggage in the luggage industry.
By Material Type
Hybrid luggage and bags segment would witness the fastest growth, registering a CAGR of 7.0% during the forecast period.
By Distribution Channel
By distribution channel, the offline segment dominated the global luggage and bags market in 2023 and is anticipated to maintain its dominance during the forecast period. The tactile nature of luggage products allows customers to physically inspect the quality, design, and features before making a purchase decision. According to Luggage and Bags Market Analysis, the hands-on experience available in offline stores is often preferred by consumers, especially when it comes to items such as luggage, which are considered significant investments for travel. Offline stores provide opportunities for personalized customer service, where sales staff can offer expert advice, recommendations, and assistance in selecting the right luggage for individual needs. Moreover, the level of interaction builds trust and confidence in the purchase, leading to higher conversion rates.
In addition, offline stores often host promotional events, seasonal sales, and exclusive offers that attract customers seeking discounts and deals on luggage. These marketing strategies help drive foot traffic to stores and stimulate impulse purchases. Thus, the combination of tangible product experience, personalized service, and promotional incentives contributes to drives the sales of luggage and bags in offline stores.
By Distribution Channel
Offline Channel would witness the fastest growth, registering a CAGR of 6.8% during the forecast period.
By Region
Region-wise, Asia-Pacific is anticipated to dominate the luggage and bags market during the forecast period. Rise in middle class population and rise in disposable incomes have fueled increase in domestic and international travel in the region, thus driving the need for reliable and stylish luggage solutions. As more people take leisure trips, business travel, and educational journeys, there is rise in demand for suitcases and bags that offer durability, functionality, and aesthetic appeal. According to Luggage and Bags Market Forecast , the rapid urbanization and expansion of transportation infrastructure in Asia-Pacific countries have facilitated travel accessibility, further boosting the demand for luggage products. In addition, the rise in e-commerce platforms and digital marketplaces has made it easier for consumers to access a wide range of luggage options, providing convenience and flexibility in shopping in the Asia-Pacific region, providing the Luggage and Bags Market Opportunities .
By Region
LAMEA would witness the fastest growth, registering a CAGR of 7.7% during the forecast period.
Competitive Landscape
The key players operating in the luggage and bags industry include Ace Co., Ltd., Adidas AG, LVMH, Nike Inc., Samsonite International S.A, Travelpro Products, Inc., VF Corporation, Victorinox, VIP Industries Limited, and U.S. Luggage Company LLC. Several well-known and upcoming brands are vying for market dominance in the expanding luggage industry. Smaller, niche firms are more well-known for catering to consumer demands and preferences. Large conglomerates, however, control most of the market and often buy innovative start-ups to broaden their product lines.
Recent Developments in Luggage and bags Market
- In June 2023, VF Corporation launched operations at its new distribution center in Ontario, California, with Vanderlande Industries to employ about 550 people during peak periods. Initially catering to Vans and The North Face, the center has a 76-million-unit annual shipping capacity, and it has the ability to dispatch 485,000 units daily, offering next-day e-commerce fulfillment across California, Nevada, Arizona, and southern Utah.
- In February 2023, Samsonite launched a licensed collection with New Balance to offer a range of bags and luggage in Asia-Pacific progressively over the coming years.
Analyst Review
As per the perspective of top-level CXOs, the global Luggage & Bags market is expected to offer various business opportunities in the developing economies such as India and China. CXOs have emphasized the impact of increase in travel and tourism, both for business and leisure, as a major driver of the global Luggage & Bags Market. With more people traveling frequently, the demand for high-quality, durable, and stylish luggage is on the rise. Leaders also point to the growing middle-class populations in emerging economies, especially in Asia-Pacific, as a significant contributor. As disposable incomes rise, consumers are more willing to invest more in premium luggage brands.
In addition, CXOs stated that the expansion of e-commerce platforms plays a crucial role in the Luggage & Bags market expansion. Online sales channels make it easier for consumers to access a wide range of luggage options, compare prices, and read reviews, thereby boosting market growth. Sustainability trends are also influencing the market, with eco-friendly luggage made from recycled materials gaining popularity among environmentally conscious consumers. Moreover, CXOs believe sustainability has become a major factor in the industry. Top leaders recognize the growing consumer demand for eco-friendly luggage made from recycled or sustainable materials. Companies are investing in green technologies and practices to meet this demand, which attracts environmentally conscious consumers and also aligns well with global sustainability trends in recent years.
The bags segment is the most influential segment in the Luggage and Bags Market report.
Europe holds the maximum market share of the Luggage and Bags Market.
The company profile has been selected on the basis of revenue, product offerings, and market penetration.
The global luggage and bags market was valued at $116,009.0 million in 2023, and is projected to reach $235,699.7 million by 2035, registering a CAGR of 6.4% from 2024 to 2035.
The forecast period in the Luggage and Bags Market report is 2025 to 2035.
The base year calculated in the Luggage and Bags Market report is 2023.
The key players operating in the luggage and bags industry include Ace Co., Ltd., Adidas AG, LVMH, Nike Inc., Samsonite International S.A, Travelpro Products, Inc., VF Corporation, Victorinox, VIP Industries Limited, and U.S. Luggage Company LLC.
The market value of the Luggage and Bags Marketin 2023 was $116,009.0 million.
Loading Table Of Content...
