Luggage Market by Product (Travel, Business, Sports), Price Range (Value & Mid-Level, Premium, Luxury), Distribution Channel (Specialty Stores, Departmental Stores, Hyper Markets & Supermarkets, Internet Sales), & Region for 2024-2031

Luggage Market Valuation - 2024-2031

The luggage market is being driven by rising travel and tourism, e-commerce expansion and lifestyle changes. Smart baggage with tracking and charging capabilities appeals to tech-savvy travellers. The market sees a high demand for lightweight, sturdy and fashionable luggage, increasing rivalry between established and rising firms. This is likely to enable the market size surpass USD 43.63 Billion valued in 2024 to reach a valuation of aroundUSD 92.24 Billion by 2031.

North America and Europe lead the luggage market due to their high travel rates and disposable incomes. Asia Pacific is quickly expanding, fuelled by increasing travel and urbanization. Key players prioritize sustainable materials and extending product lines to address various consumer tastes and environmental concerns. The rising demand for Luggage is enabling the market grow at aCAGR of 9.81% from 2024 to 2031.

Luggage Market: Definition/ Overview

Luggage refers to the bags, cases and containers used to store and transport personal belongings when traveling. It includes suitcases, backpacks, duffel bags and trunks that are intended to provide convenience and safety for items. Luggage is necessary for orderly, safe and effective travel.

Luggage is used to convey personal possessions while traveling, assuring organization, safety and convenience. It can hold clothes, toiletries, electronics, paperwork and other necessities. Carry-ons, suitcases, backpacks and garment bags are examples of specialized luggage designed to meet a wide range of travel demands and tastes.

Smart luggage features such as GPS monitoring, solar charging for electronics, automated weight monitors and built-in power banks may become commonplace in the future. Enhanced materials will provide durability and sustainability. Modular designs may enable customization, while AI integration may give travel help and security advantages.

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What are the Drivers Encouraging the Adoption of Luggage?

A surge in global travel and tourism raises demand for dependable and effective luggage. Rising disposable incomes and urbanization drive up spending on travel accessories. Consumers seeking convenience and innovation are drawn to technological advances in luggage, such as smart features (GPS tracking, built-in chargers) and improved materials (durability, lightweight).

E-commerce expansion provides simple access to a diverse range of products, hence increasing customer choice. Furthermore, changing lifestyles and an emphasis on individualized travel experiences fuel demand for premium and specialist luggage products. increasing knowledge of luggage benefits, such as better organization and security features, fuels industry expansion. These factors contribute to the broad use of various types of luggage.

Will Battery Life & Maintenance Affect the Growth of the Luggage Market?

Battery life and maintenance will have an impact on the expansion of the luggage business, particularly smart luggage. Short battery life can reduce the appeal of features such as GPS tracking and built-in chargers, resulting in customer unhappiness. Buyers may be put off investing in smart luggage due to the need for frequent maintenance and probable technological concerns.

Furthermore, airline constraints on lithium-ion batteries may influence the adoption of specific smart luggage types. To fuel market growth, producers must prioritize improving battery life, assuring ease of maintenance and adhering to safety requirements. Improving these elements will increase the functionality and dependability of smart luggage, making it more appealing to consumers and stimulating market growth.

Category-Wise Acumens

How will Value & Mid-Level Categories Dominate the Growth of the Luggage Market?

Value and mid-level luggage segment will drive market expansion due to their affordability and broad appeal to a diversified consumer base. These categories strike a mix between quality and price, making them appealing to budget-conscious travellers and those looking for practical, useful solutions.

The increasing frequency of travel, as well as a growing middle class with rising disposable incomes, drive demand for value and mid-level luggage. Furthermore, advances in production and materials have increasing the quality of these products, hence increasing their attractiveness. Retailers' emphasis on competitive pricing and regular promotions boosts sales in this sector, making value and mid-level luggage a key driver of overall industry growth.

Will Convenience of Online Shopping Dominate the Internet Sales Segment?

The convenience of online buying will continue to dominate the Internet sales market. Customers increasingly choose the convenience of exploring, comparing and purchasing luggage from the comfort of their own homes. Online platforms appeal to shoppers because they offer a diverse range of products, extensive reviews and competitive pricing.

Furthermore, technological improvements such as mobile apps and personalised recommendations improve the overall online buying experience. The opportunity to access worldwide brands and have flexible delivery options contributes to the appeal of e-commerce. As more consumers embrace digital buying, convenience will continue to be a key motivator, supporting Internet sales' dominance in the luggage market.

Country/Region-wise Acumens

Will High Consumer Spending and Established Retail Channels Drive the Market in North America?

High consumer spending and established retail channels will propel the luggage market in North America. The region's strong economy and high disposable incomes allow people to spend in a wide range of luggage options, from basic to premium. Established retail channels, such as big department shops, specialist stores and online platforms, offer widespread accessibility and convenience to consumers.

Furthermore, North America's emphasis on brand reputation and quality fuels demand for both classic and new luggage options. The presence of top baggage brands, as well as frequent discounts, help to drive market growth. These elements, together with a strong emphasis on travel and lifestyle, ensure long-term demand and growth in the North American luggage market.

Will Rising Disposable Incomes Drive the Market in Asia Pacific Region?

Rising disposable incomes would greatly boost the Asia-Pacific luggage industry. As incomes rise, people become more inclined to spend on travel and related accessories, such as luggage. This rising prosperity encourages increasing spending on both functional and expensive luggage solutions. The growing middle class and urbanization are also driving up demand for diversified luggage solutions that cater to a variety of travel needs and tastes.

Additionally, increasing living standards and economic growth in nations such as China and India increase consumer purchasing power. The increasing availability of internet shopping and retail shops adds to this trend, making it easier for consumers to purchase a diverse choice of luggage products. Rising disposable incomes are a significant driver of market expansion in Asia-Pacific.

Competitive Landscape

The luggage market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.

Some of the prominent players operating in the luggage market include:

Delsey S.A.

Samsonite International S.A.

VIP Industries Ltd.

LVMH Moet Hennessy Louis Vuitton SE

NIKE, Inc.

Ace Co, Ltd.

Antler Ltd.

VF Corporation

Etienne Aigner AG

Latest Developments

In July 2023, Louis Vuitton debuted the Taurillon Monogram collection on the Echoing Maison runway. The range featured Christopher backpacks, the thin Sac Plat small and the Keepall25.

In April 2023, Samsonite announced a luggage trade-in campaign to demonstrate their commitment to sustainability. The corporation, along with its local partners WWF Philippines and Envirotech, asked for trade-ins of any brand or size and provided up to save 35% on Samsonite's Oc2Lite and Niar models.

In August 2022, Samsonite debuted a new brand of luggage called "Magnum Eco," which is created from yogurt cups and plastic bottles. The inner of this new range of baggage is created from plastic mineral water bottles that have been turned into outside Hardside cases.