PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1708681
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1708681
Global Luggage And Leather Goods Market is estimated to be valued at USD 496.03 Bn in 2025 and is expected to reach USD 712.04 Bn by 2032, growing at a compound annual growth rate (CAGR) of 5.3% from 2025 to 2032.
Report Coverage | Report Details | ||
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Base Year: | 2024 | Market Size in 2025: | USD 496.03 Bn |
Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
Forecast Period 2025 to 2032 CAGR: | 5.30% | 2032 Value Projection: | USD 712.04 Bn |
Global luggage and leather goods market has been witnessing steady growth over the past few years. Factors such as expanding middle-class population, rising tourism activities, increasing disposable incomes and growing consumer spending on luxury and fashion items have been positively influencing the demand for high quality luggage, purses, wallets and other leather goods. However, volatile leather prices are coupled with the availability of affordable synthetic substitutes that present a few challenges for the market players. Moreover, changing consumer preferences towards compact and lightweight bags is prompting companies to develop innovative and technologically advanced products. Overall, the industry has strong growth potential over the long run on account of evolving consumer lifestyles and the growing need for premium and branded luggage/leather products worldwide. Luggage and leather goods are produced from leather which is made up of animal skin. These products are highly durable and offer aesthetic look to the products. Leather goods includes footwear, clutches and wallets, clothing, and apparel, upholstery (furniture and automotive), and leather accessories.
The key drivers propelling the global luggage and leather goods market forward include rapid urbanization, increasing youth population and proliferation of the e-commerce retail space which has significantly enhanced product discovery and accessibility across geographies. At the same time, strict emission regulations and rising environmental concerns surrounding livestock farming pose restraints to the market. On the positive side, growing preference of consumers towards eco-friendly vegan leather variants present lucrative opportunities for manufactures to expand their sustainable product portfolios. Rising global tourism and business travel activities are further stimulating the demand for high quality luggage bags.