GLOBAL STATISTICS IN THE LUGGAGE MARKET(2024)

The global luggage market is experiencing significant growth and transformation driven by several key factors. Here are some of the latest statistics, facts, and trends shaping the industry:

LUGGAGE MARKET ANALYSIS

Market Size (2024): USD 174.4 billion (total revenue from sales).
Projected Market Size (2030): USD 265.6 billion (total expected revenue from sales).
Market Growth (CAGR): 7.3% from 2024 to 2030.

Mordor Intelligence reports that the global luggage market was valued at approximately $36.4 billion in 2019 and is projected to reach $79.69 billion by 2027, with a CAGR of around 10.2% during the forecast period. The expanding travel and tourism industry, increased participation in sports, and a shift toward higher lifestyle standards fuel this growth.

KEY MARKET DRIVERS

Travel and Tourism: The increasing number of travelers worldwide is a major driver of the luggage market. The demand for durable, high-quality luggage is rising as more people travel for leisure, business, and sports.
Sustainability: There is a growing emphasis on sustainable luggage options. Companies are incorporating eco-friendly materials and practices, attracting environmentally conscious consumers.
Innovation: Advances in luggage design, such as convertible and foldable luggage, are meeting consumer demands for versatility and convenience. Enhanced security features and technological advancements are also contributing to market growth (Research and Markets).

LUGGAGE MARKET TRENDS & GROWTH DRIVERS

Technological Innovations Are Key Trend

Furthermore, a shift in consumer preferences for high-end bags, as well as the increase in the level of urbanization, are likely to drive the demand for bags during the forecast period. These bags’ cutting-edge features, including GPS trackers,high-security locks, USB connections, robust wheels, and expandable capacity, meet the expectations of today’s travelers.

Foldable and Convertible Luggage also Trending among People

This is a new trend in the industry of multipurpose luggage.

The luggage industry is witnessing a growing trend towards foldable and convertible luggage, known for its versatility and space-saving designs. These innovative luggage types are easy to transport and store, offering multifunctionality that appeals to modern travelers. Popular options include collapsible spinners, trolley bags, tote bags, and duffle bags.

Corporate Sector

In the corporate world, convertible briefcases are particularly favored. They provide a stylish and practical solution for carrying valuables, cash, and essential documents. The rising demand for briefcases is driven by business professionals’ need for efficient and sophisticated ways to transport laptops and important papers.

Sports Industry

The global expansion of the sports industry and the increasing use of specialized luggage by athletes are also contributing to market growth. Athletes require durable and adaptable luggage to transport their gear, which further fuels the demand for these versatile luggage options.

This trend reflects a broader shift towards practicality and innovation in the luggage market, catering to diverse consumer needs and preferences.

Growing Travel & Tourism Industry Driving Accessory Demand

The expanding travel and tourism industry is a significant driver of increased demand for travel luggage and accessories. Countries like the U.S., the U.K., Germany, China, India, South Korea, Brazil, and the Netherlands are experiencing dynamic growth in this sector.

After taking a severe hit during the pandemic, the industry has made a strong comeback, with international arrivals reaching nearly 90% of pre-pandemic levels in 2023. Major aviation, hospitality, and online travel agency (OTA) companies, including Airbnb, Bookings.com, Royal Caribbean, Delta Airlines, and Marriott International, have reported significant revenue increases in 2024.

To meet rising demand, United Airlines has added more flights to Tokyo, Taipei, Hong Kong, and Manila to accommodate the autumn travel rush. This resurgence in travel activity is fueling the need for reliable, high-quality travel baggage, driving growth in the luggage market.

Rise of Online Shopping: An Opportunity for Market Growth

The surge in e-commerce presents a significant opportunity for luggage manufacturers to engage directly with customers. The convenience and variety offered by online shopping platforms have led more people to purchase luggage online.

Customers can explore a wide range of luggage designs, styles, sizes, and prices from the comfort of their homes with just a few clicks. This eliminates the need to rely on local availability or visit physical stores with limited inventory.

Online shopping allows luggage companies to expand their global reach and cater to diverse customer needs. Shoppers can easily find and purchase items with specific features or the latest collections without worrying about stock shortages in physical stores.

In the wake of the pandemic and with the resurgence of international travel, online retailers have become the go-to choice for travelers buying bags. They provide a hassle-free shopping experience, ensuring customers can secure their desired luggage without the risk of it being sold out before their trip.

Growing Need for Robust and Lightweight Bags Driving Market

The demand for strong yet lightweight bags presents significant development potential for the global luggage industry. There has been a noticeable shift towards more environmentally friendly and sustainable bags among business and leisure travelers in recent years.

Consumers now place a higher value on bags that are both lightweight and durable enough to withstand frequent usage. This preference aligns well with current international travel trends.

According to the World Tourism Organization (UNWTO), luggage companies offering lightweight, sturdy, and innovative bags stand to benefit significantly as global travel continues to rebound. This growing need for robust and lightweight luggage is driving market growth and encouraging manufacturers to develop products that meet these evolving consumer demands.

CHALLENGES IN EMERGING MARKETS

Unorganized Luggage Markets in Emerging Economies

The unorganized luggage market poses a significant challenge to the organized sector in emerging economies. Local players often use cheaper materials, skip branding and advertising, and cut costs on research and development (R&D) to offer products at significantly lower prices compared to their international competitors.

This market primarily attracts middle- and low-income consumers willing to compromise on quality for a better deal. Organized luggage companies, which focus on quality and innovation, face difficulties as their unorganized competitors gain market share by offering extremely low prices.

Frequent Cycle of Product Replacement Hampers Market Growth

A major issue hindering the industry is the frequent cycle of product replacement. Luggage from well-known brands is made with premium raw materials, enhancing their durability. Typically, a high-quality bag lasts at least three years, making revenue collection cyclical and more dependent on maintenance.

Furthermore, manufacturers of high-quality luggage often extend replacement periods by offering substantial warranties and guarantees. This protracted exchange cycle restricts their sales and consequently impedes market growth.

MARKET SEGMENTATION

The luggage market is segmented by product type, distribution channel, and region.

By Product Type:

Travel Luggage: Includes suitcases and carry-ons. （Largest and Fastest-Growing category）
Casual Luggage: Includes backpacks and duffel bags.
Business Luggage: Includes briefcases and laptop bags.
Sports Luggage

The travel luggage category leads the market with a 40% revenue share. This dominance is primarily driven by the increasing popularity of adventure and outdoor activities in emerging economies. As middle-class households see rising incomes, there is a growing demand for upscale and stylish travel accessories, particularly in developing countries. Consumers are also more willing to invest in luxurious and extravagant accessories to keep up with rapidly changing trends. Additionally, innovative designs and eco-friendly product developments contribute to a positive market outlook.

2. By Distribution Channel:

Offline:
Department stores
Specialty stores
Supermarkets & Hypermarkets (Largest Category)
Online:
E-commerce platforms (Fastest-Growing Category)
Company-owned websites

Supermarkets and hypermarkets are set to dominate the luggage market, holding a 55% revenue share. The expansion of hypermarket chains and their emphasis on promotional and marketing activities, including attractive discounts, are key drivers of this growth. The convenience of a wide variety of products available in one location, including private-label options, further propels this segment’s advancement. These factors collectively enhance customer experience and drive market demand through these channels.

3. By Region:

North America: The market is expected to grow at a CAGR of 5.5% through 2034, with the U.S. leading the region and projected to hold a market share of 68.5% in 2024.
East Asia: Significant growth is expected, particularly in China, which is projected to hold 63.5% of the regional market share in 2024.

Price Range Insights

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

Mid-Category Dominance: In 2024, the mid-category holds the largest market share at 50%.

Consumer Appeal: Mid-priced bags attract a broad demographic of consumers who seek a balance between quality and affordability.

Product Characteristics: These travel accessories are sturdy, practical, and fashionable without being overly expensive, making them ideal for both occasional and frequent travelers. Despite their affordability, mid-priced travel bags often feature durable fabrics, ample compartments, and ergonomic designs.

High-Category Growth: The high category is expected to witness the highest CAGR of 7.5% during the forecast period. These options cater to customers who prioritize luxury, superior quality, and brand recognition. High-end bags are crafted from premium materials such as leather and advanced synthetics, offering exceptional durability and style.

Color Preferences

The most popular color for luggage tends to be black, due to its versatility and ability to hide dirt and scuffs easily. However, other popular colors include navy blue, gray, and brown. These colors are favored for their professional look and ease of maintenance.

For travelers who prefer their luggage to stand out, bright and bold colors like red, green, and even neon shades are becoming increasingly popular.

Black: The most popular luggage color, accounting for approximately 44% of the market, is favored for its versatility and practicality.
Blue: Accounts for around 16% of the market.
Gray: Holds about 13% of the market share.
Others: 27% of bright colors not only make it easier to spot luggage on a carousel but also add a touch of personality to travel gear.

Most Popular Size and Model:

In recent years, the carry-on spinner suitcase has emerged as one of the most popular luggage choices. It strikes a perfect balance between compactness and packing capacity, adhering to airline size restrictions while offering ample space for essentials.

This model dominates the market, accounting for about 60% of all luggage purchases.

The medium-sized expandable suitcase ranks second, holding around 25% of the market share.

Large hardside suitcases represent approximately 10% of the market.

Travel backpacks, favored by backpackers, adventure travelers, and those who prefer hands-free mobility, make up about 5% of the market.

LUGGAGE MARKET REGIONAL OUTLOOK

APAC Is the Largest Market

Market Dynamics: The Asia-Pacific region is experiencing rapid market growth due to increasing urbanization, rising disposable incomes, and a growing middle class.
Growth Drivers: The boom in the travel and tourism sector, particularly in China and India, is a major driver. E-commerce expansion further fuels market growth.
Key Trends: Consumers in this region are showing a preference for stylish and affordable luggage.

ARegional Outlook of the Luggage Market

North America

Market Dynamics: North America remains a key market for luggage, driven by high disposable incomes, frequent travel habits, and a strong emphasis on leisure activities.
Growth Drivers: The rise in business travel and the popularity of adventure tourism are significant growth drivers. E-commerce growth also boosts market demand.
Key Players: Prominent brands such as Samsonite, Tumi, and American Tourister dominate the market.

Europe

Market Dynamics: Europe holds a significant share of the global luggage market, with a robust tourism industry and a high rate of international travel.
Growth Drivers: The market benefits from a mix of business and leisure travel, with a growing interest in eco-friendly and sustainable luggage options.
Key Markets: The UK, Germany, and France are major markets within the region.

Latin America

Market Dynamics: The luggage market in Latin America is growing steadily, driven by increasing travel activity and economic development.
Growth Drivers: Rising disposable incomes and a growing tourism sector in countries like Brazil and Mexico are key drivers.
Challenges: Market growth is tempered by economic instability in some countries.

Middle East & Africa

Market Dynamics: The Middle East and Africa region shows promising growth potential, driven by increasing tourism and business travel.
Growth Drivers: Economic diversification and investment in tourism infrastructure in countries like the UAE and Saudi Arabia are major growth drivers.
Key Markets: The UAE, South Africa, and Nigeria are leading markets within the region.

LUGGAGE MARKET SHARE

The luggage industry is fragmented, with several key players focusing on product launches, mergers and acquisitions, supply chain management, and design, features, and technology advancements.

The growth of the travel and tourism sectors, combined with increasing migration and rising disposable incomes, supports the expansion of the luggage industry. Key industry players exert significant influence and drive this growth.

Producers primarily focus on global expansion to gain a competitive edge and expand their international customer base.

Manufacturers use a variety of marketing strategies to enhance visibility, including TV commercials, online promotions, out-of-home advertising, and print media to build brand awareness.

In summary, the global luggage market in 2024 is characterized by technological advancements, sustainability trends, and a strong recovery in travel demand. Manufacturers and brands that adapt to these evolving preferences and needs will likely thrive in this dynamic market landscape.