PUBLISHER: Grand View Research | PRODUCT CODE: 1587513
PUBLISHER: Grand View Research | PRODUCT CODE: 1587513
The global luggage market size was estimated to reach USD 61.49 billion in 2030, growing at a CAGR of 7.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Urbanization and increased disposable income are also contributing to the rising demand for luggage bags. Rapid urbanization and a growing middle class, particularly in developing regions like Asia-Pacific, are leading to higher disposable incomes. This economic shift allows more consumers to invest in quality luggage products. The rise in disposable income also leads to a greater inclination towards purchasing luxury and designer luggage items, further boosting market demand.
Technological innovations also influence the demand for luggage bags. The introduction of smart luggage featuring GPS tracking, USB charging ports, and other tech-enabled functionalities is appealing to modern consumers who prioritize convenience and security while traveling. Innovations in materials and designs-such as lightweight polycarbonate luggage-are also attracting consumers looking for both functionality and style. Changing consumer preferences are also driving the demand for luggage bags. There is a notable shift towards eco-friendly products as consumers become more environmentally conscious. Manufacturers are responding by offering sustainable options that align with these values.
Additionally, the increasing popularity of adventure travel among younger generations is driving demand for versatile luggage options that cater to various travel needs-from business trips to leisure travel. The rise of e-commerce has also contributed to the growing demand for luggage bags. The growth of online shopping has made it easier for consumers to access a wide range of luggage options. E-commerce platforms are expanding their offerings, allowing consumers to compare products easily and make informed purchasing decisions.