Global Luggage Market Infographics Description:
- The global luggage market is estimated at US$ 25,516.1 Mn in 2020.
- Worldwide luggage market is projected to reach US$ 50,807.4 Mn in 2029 at a CAGR of 8.0% from 2020 to 2029.
- Amongst product types, the travel bags segment in the global luggage market is estimated to account for a majority revenue share of 48.0% in 2020 end.
- Among all the distribution channel segments, internet sales is expected to register the highest CAGR of over 8.6%, followed by specialist retailers segment.
- Market in Asia Pacific is expected to dominate the global luggage market. It is expected to account for the largest market revenue share as compared to that of markets in other regions.
- Companies profiled in the report are Christian Dior SE (LVMH Moët Hennessy Louis Vuitton SE), LVMH (Rimowa Gmbh), Hermès International S.A., Samsonite International S.A., Piramal Enterprises Ltd. (VIP Industries), Iconix Brand Group (London Fog), Delsey, Travelpro Products Inc., JRSK Inc. (Away), and United States Luggage Company Llc.
Report Overview
The global luggage market is projected to reach a value of approximately USD 81.5 billion by 2033, up from USD 38.8 billion in 2023, reflecting a compound annual growth rate (CAGR) of 7.7% from 2024 to 2033.
Luggage refers to the collection of bags, cases, and containers used for carrying personal belongings while traveling. It typically includes items such as suitcases, travel bags, backpacks, and accessories designed to hold clothes, toiletries, and other essential items.
Luggage is designed with both functionality and durability in mind, providing protection and ease of transport for travelers. Over time, luggage has evolved from basic storage solutions to highly specialized products, including smart luggage with integrated technology features such as GPS tracking, charging ports, and biometric locks.
The luggage market encompasses the global demand, production, and sale of various travel bags and accessories. It includes a wide range of products, from traditional hard-shell suitcases to soft-sided bags, travel backpacks, and innovative solutions like wheeled luggage and carry-on bags.
The market is influenced by multiple factors such as changes in consumer preferences, travel trends, technological advancements, and global economic conditions. The luggage market can be segmented by product type, material, distribution channel, price range, and geographic region, each with its own growth dynamics.
The growth of the luggage market is driven by several key factors. The primary catalyst is the rising global travel and tourism industry, including both leisure and business travel. As the world becomes more interconnected, people are traveling more frequently, and with that comes an increased demand for luggage that is not only functional but also durable, stylish, and customizable.
Furthermore, the growing middle-class population, particularly in emerging markets, is driving an expansion in consumer purchasing power and an increased propensity for travel-related spending. Innovations in design and technology, such as lightweight materials, built-in tech features, and eco-friendly alternatives, are also contributing to the market’s expansion. Additionally, the rise of e-commerce platforms has made luggage more accessible to consumers worldwide, further accelerating growth.
The demand for luggage is largely influenced by the travel industry’s growth, which in turn is impacted by economic cycles, disposable income, and shifting consumer preferences. In recent years, there has been a notable shift towards premium and high-tech luggage solutions. Consumers are increasingly seeking durable, lightweight, and high-functionality products that align with their travel needs.
The demand for smart luggage, for example, has risen significantly due to the integration of technologies such as built-in power banks, GPS tracking, and biometric locks. Furthermore, eco-conscious consumers are driving demand for sustainable materials and ethical production practices in luggage manufacturing. As travel patterns shift, including a rise in international travel and longer trips, the need for specialized luggage that offers more storage and organizational capabilities continues to grow.
The luggage market presents significant opportunities for growth, particularly in innovation, sustainability, and geographic expansion. First, the integration of technology into luggage such as smart tracking, weight sensors, and security features—presents an opportunity for premium brands to differentiate themselves and attract tech-savvy travelers. Second, the increasing focus on sustainability creates openings for brands to capitalize on eco-friendly materials, recycled plastics, and biodegradable alternatives to traditional luggage components.
Key Takeaways
- The global luggage market is expected to grow from USD 38.8 billion in 2023 to USD 81.5 billion by 2033, registering a compound annual growth rate (CAGR) of 7.7%.
- Travel bags were the market leader in 2023, accounting for 44.2% of the market share, driven by the increase in tourism and personal travel.
- Soft-sided luggage dominated the market with a 61.8% share in 2023, owing to its lightweight, durable, and versatile design.
- Offline retail channels held a 66.2% share in 2023, reflecting consumers’ continued preference for in-store shopping experiences.
- North America led the luggage market in 2023, capturing 35.5% of the market share, supported by a robust tourism industry and high consumer expenditure.
Key Players Analysis
In 2024, the global luggage market remains highly competitive, with key players driving innovation, expanding product offerings, and focusing on both premium and mid-range segments. Rimowa, a leader in high-end luxury luggage, continues to leverage its premium brand identity and high-quality aluminum designs to appeal to affluent consumers. The brand’s strategic emphasis on digital integration and smart luggage features places it at the forefront of technological innovation in the industry.
Samsonite, as a market leader, maintains a dominant position through its extensive distribution network and diverse product range, offering both affordability and premium options. Samsonite’s focus on lightweight, durable materials and eco-friendly innovations positions it well in both mature and emerging markets.
Tumi, known for its luxury travel products, has solidified its niche in the premium segment, focusing on sophisticated, high-performance luggage while also embracing sustainability in product development. American Tourister, a value-oriented subsidiary of Samsonite, continues to thrive by offering durable and affordable luggage to a wide demographic, with designs appealing to both budget-conscious consumers and younger travelers.
Delsey, a French brand, has strengthened its global footprint by focusing on stylish, durable, and functional luggage, appealing to both the fashion-conscious and practicality-driven segments. Travelpro is known for its high-quality, affordable products, particularly catering to frequent business travelers with its durable and practical designs. Briggs & Riley stands out for its premium lifetime warranty and emphasis on durable, expandable designs, making it a favored choice among professional travelers. Victorinox offers high-quality, Swiss-engineered luggage that appeals to both adventure seekers and business professionals.
Thule, traditionally known for outdoor gear, has expanded its offering to include durable and functional luggage, especially targeting active and travel-oriented consumers. Heys, with its focus on vibrant, stylish, and lightweight luggage, appeals to the fashion-forward and budget-conscious traveler segments. These players will continue to evolve in 2024 and beyond, with an increasing focus on sustainability, technological advancements, and adaptability to shifting consumer preferences in a post-pandemic travel landscape.
