Luggage Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Luggage Market Size

Luggage Market Trends & Growth Drivers

Technological Innovations Are Key Trend

• The smart bag has transformed the travel business by incorporating technology into classic luggage designs. Smart baggage generally contains built-in GPS tracking, remote locking systems, USB charging outlets, and integrated scales.
• These features provide passengers with convenience, security, and peace of mind on their excursions.

Foldable and Convertible Luggage also Trending among People

• This is a new trend in the industry of multipurpose luggage.
• Taking them from one location to another is simple, and they do not require a lot of room. They can be changed into multipurpose luggage, such as the collapsible spinners, trolley bags, tote bags, and duffle bags.
• In the corporate sector, convertible briefcases are quite common since they are necessary for transporting valuables, cash, and critical papers. The increasing need for briefcases is a result of businesspersons’ increasing need for them as a chic and practical means of transporting laptops and important papers.
• The expansion of the sports industry globally and athletes' increasing usage of luggage are driving further growth in the market.

Growing Travel & Tourism Industry Is Driving Accessory Demand

• The expanding travel & tourism industry is a strong driver for the rise in the demand for travel baggage.
• The tourism sector is currently one of the most-dynamic and diverse businesses in countries such as the U.S., the U.K., Germany, China, India, South Korea, Brazil, and the Netherlands.
• Since taking one of the hardest hits during the pandemic, this industry has strongly rebounded, with international arrivals reaching almost 90% of the pre-pandemic levels in 2023. Almost all major aviation, hospitality, and OTA firms, such as Airbnb, Bookings.com, Royal Caribbean, Delta Airlines, and Marriott International, saw significant increases in revenue in 2024. Further, seeing the demand in booking, United Airlines added more flights to Tokyo, Taipei, Hing Kong, and Manila to tackle the autumn travel rush.

Rise of Online shopping Is an Opportunity for Market Growth

• The rise of e-commerce offers luggage manufacturers alternative ways to directly engage customers, as more people are purchasing online for convenience and variety.
• Customers can look at a range of baggage designs, styles, sizes, and prices from the comfort of their homes, with just a few clicks. People no longer need to rely on the local availability of certain items or visit physical establishments with restricted inventory on display.
• Online shopping enables baggage companies to expand their worldwide reach and meet a range of customer needs. Instead of waiting or missing out on items in shops, customers looking for certain features or the newest collections can quickly locate and buy them online.
• Particularly, after the epidemic and with international travel picking up, internet retailers have become travelers' first choice when it comes to buying bags. They offer a hassle-free shopping experience, without having to worry about luggage running out before the trip.

Growing Need for Robust and Lightweight Bags Driving Market

• The need for strong yet lightweight bags present a significant development potential for the worldwide baggage industry. In recent years, there has been a noticeable trend in business and leisure travel of more-environment-friendly and sustainable bags.
• Consumers are placing a higher value on bags that are both lightweight and durable enough to withstand frequent usage. This penchant for robust yet lightweight luggage fits in nicely with the current trends in international travel.
• According to the World Tourism Organization (UNWTO), luggage companies that provide lightweight, sturdy, and inventive bags stand to gain greatly as travel continues to rebound internationally.

Growing Prevalence of Fakes Is a major Challenge

• The worldwide baggage market is facing significant problems due to the growing problem of counterfeit goods available online.
• Materials and components of lower quality and shorter lifespan are used in such products. Sometimes, those who buy them under the false notion that they are authentic end up with baggage that breaks or wears out after only one or two uses. This results in a negative customer experience and discontent. It also harms the reputation of established baggage companies for reliability and toughness.
• Numerous worldwide assessments conducted by the World Customs Organization reveal that around 4–5 out of every 10 products marketed online are counterfeit. The bad experience with fakes lowers future purchases from reputable producers and repeat business.
• In order to attract buyers, replica items are sometimes offered for considerably less than the originals. However, because they require regular replacements, their lifetime ownership cost is significant. This destroys consumers' perceptions of the true cost and value of high-quality baggage.

Unorganized Luggage Markets in Emerging Economies.

• The unorganized luggage market presents a major challenge to the organized sector in emerging economies.
• Local players frequently use cheaper materials, forego branding and advertising, and make savings on things such as R&D to sell items with the same branding as their international competitors at markedly reduced rates.
• Middle- and low-class consumers who are willing to compromise on quality in order to get a good bargain majorly buy this stuff.
• For organized luggage companies, things are difficult. As they prioritize quality and innovation, their disorganized competitors are gaining ground on them by offering extremely low costs.

Frequent Cycle of Product Replacement Hampers Market Growth

• One of the main issues hindering the industry is the frequent cycle of product replacement.
• Suitcases from well-known brands are constructed from premium raw materials, which increases their durability.
• The typical bag lasts at least three years; therefore, revenue collection in the market becomes cyclical and may depend more on maintenance.
• Furthermore, manufacturers of high-quality luggage and accessories prolong their replacement periods further when they provide significant warranties and guarantees. As a result, the protracted exchange cycle restricts their sales and consequently impedes the market's expansion.

Luggage Industry Outlook

Product Insights

• The travel luggage category is dominating the market in 2024, with 40% revenue share. The rising popularity of adventure and outdoor activities in emerging economies is the fundamental reason for this.
• The growing earnings of middle-class households increases the demand for upscale and fashionable travel accessories, especially in developing countries. Additionally, in order to keep up with the rapidly changing trends, consumers are willing to spend more on ostentatious and opulent accessories. Furthermore, innovative designs and eco-friendly product innovations lead to a favorable outlook for the market's expansion.

The products covered in the report include:

• Travel Luggage (Largest and Fastest-Growing Category)
• Business Luggage
• Sports Luggage
• Others

Distribution Channel Insights

Supermarkets & hypermarkets, based on distribution channel, dominating the market, with a revenue share of 55%, in 2024. The growing number of hypermarket chains, as well as their increasing focus on promotional and marketing activities, such as tempting discounts on products, will drive the luggage market in the coming years. Furthermore, the availability of a diverse range of products in a single place, including private-label products, is driving the category’s advance.

The following distribution channels are included in the report:

• Supermarkets & Hypermarkets (Largest Category)
• Specialty Stores
• Online Stores (Fastest-Growing category)
• Others

Price Range Insights

• The mid category holds the largest share in the market, of 50%, in 2024.
• Mid-priced bags attract a broad demographic of consumers who value both quality and affordability.
• These travel accessories are sturdy, practical, and fashionable, without being too expensive, which is why both occasional and frequent travelers find them to be ideal. Even at affordable prices, medium-priced travel bags often include sturdy fabrics, generous compartments, and ergonomic designs.
• The high category is expected to witness the highest CAGR, of 7.5%, during the forecast period. These alternatives are aimed at customers who desire luxury, superior quality, and brand awareness. These bags are made of premium materials, such as leather and sophisticated synthetics, which provide outstanding durability and style.

The price ranges covered in the report include:

• Low
• Mid (Largest Category)
• High (Fastest-Growing Category)

APAC Is Largest Market

• Asia-Pacific is estimated to generate 45% of the global revenue in 2024, thus dominating the market. It is also expected to see the highest CAGR, of 7.6%, over the forecast period, owing to the rising living standards, increasing expenditure on the self, and rising demand for high-quality baggage.
• The rising business and sports activities, along with the growing education opportunities, are set to boost product sales in Asia-Pacific over the forecast period.
• Over the years, tourism activities have increased dramatically due to the increase in the urbanization rate and the number of people engaging in leisure activities. As a result, an increasing number of consumers in this region are becoming attracted to designer and branded baggage. 

The regions and countries analyzed for this report include:

• North America
  • U.S. (Larger and Faster-Growing Country Market)
  • Canada
• Europe
  • Germany (Largest Country Market)
  • U.K. (Fastest-Growing Country Market)
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific (APAC) (Largest and Fastest-Growing Regional Market)
  • China (Largest Country Market)
  • Japan
  • India (Fastest-Growing Country Market)
  • South Korea
  • Australia
  • Rest of APAC
• Latin America (LATAM)
  • Brazil (Largest and Fastest-Growing Country Market)
  • Mexico
  • Rest of LATAM
• Middle East and Africa (MEA)
  • Saudi Arabia (Largest Country Market)
  • South Africa
  • U.A.E. (Fastest-Growing Country Market)
  • Rest of MEA

Luggage Market Share

• The luggage industry is fragmented with the presence of several key players. Most of them are focusing on product launches, mergers and acquisitions, supply and chain and advancement in designs, features, and technologies.
• The travel and tourism sector are growing, and the luggage industry is supported by key players who have significant influence. The population's increasing migration and rising disposable income accelerate the industry's growth.
• The key tactic that gives producers a competitive advantage in growing their customer base internationally is expansion.
• Manufacturing companies employ a range of marketing strategies to boost their exposure, including TV commercials, online promotions, OOH advertising, and brand awareness via print media.

Luggage Industry News

• In April 2023, Samsonite introduced a luggage trade-in campaign to promote sustainability.
• In December 2023, Rimowa, under the ownership of LVMH, introduced its Signature Bag Collection, crafted from Econyl, a sustainable material made from recycled nylon.
• In April 2024, Samsonite, in collaboration with BOSS, has unveiled a new campaign, featuring its aluminum luggage capsule.