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The luggage market size is estimated to grow USD 12.52 billion at a CAGR of 7.5% between 2022 and 2027. The growing global travel and tourism industry is creating opportunities for sports-related businesses, such as sports equipment manufacturers and sports event organizers, as travelers seek sports-related experiences and activities during their trips. The rising participation of women and children in sports is expanding the market for sports equipment, apparel, and related products, as well as creating opportunities for sports education and coaching services. Shifting preferences for a better lifestyle, including a focus on health, fitness, and leisure activities, are driving demand for sports and recreational products and services, contributing to market growth.
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This report extensively covers market segmentation by distribution channel (specialty stores, department stores hypermarkets and supermarkets, online retail, and warehouse clubs), product (travel luggage, casual luggage, business luggage, and sports luggage), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market share growth by the speciality stores segment will be significant during the forecast period. These shops carry popular brands of baggage and provide a wide range of brands and product portfolios. They sell similar types of products in all their outlets.
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The specialty stores segment was valued at USD 9.94 billion in 2017 and continued to grow until 2021. Specialty Luggage and World Traveler are popular specialty stores. They also include company-owned independent stores operated by vendors like DELSEY and Samsonite International. The opening of new specialty stores of baggage drives the growth of the market during the forecast period.
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APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The high population density and outbound tourism in the region are major growth factors contributing to regional growth. APAC sees an influx of international and high-end baggage brands like VF Corporation, which will help boost the market in the region during the forecast period. The trend of purchasing baggage products as lifestyle products rather than utility products bodes well for market growth. The rise of online retailers like Amazon.com will increase product reach and, consequently, market growth.
China, Japan, and India are the major contributing countries to the market in APAC. The market in China will show high potential for growth during the forecast period owing to the growing population and the increasing income levels in the country. The market in Japan is driven by the high per capita expenditure on baggage products. The demand for luggage in India is also expected to be driven by a number of factors. Rising income levels due to an increase in employment rate and an increase in the working women population have led to higher purchasing power. The adoption of high fashion is an emerging trend in the market and is likely to lead to increased adoption of baggage as a lifestyle product during the forecast period. Vendors are trying to increase the sales by expanding their retail store networks. The focus of vendors to expand their online retail presence in APAC will increase online sales and drive the growth of the luggage market in the region during the forecast period.
The market is influenced by trends in the tourism industry and the preferences of outbound tourists, especially among millennials and Gen Z, who prioritize outdoor activities and athleisure. Australian manufacturer Strandbags and startups are catering to these trends by offering a discount brand image. The market is also driven by the increasing demand for luxury bags equipped with features like GPS trackers, high-security locks, USB ports, sturdy wheels, and expandable capacity. Manufacturers are incorporating lighter materials and durable soft materials to meet the needs of modern travelers. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing global travel and tourism industry is notably driving the market growth. The tourism industry has experienced significant growth over the past few decades, driving a surge in outbound tourists and fueling demand for various products catering to travel and outdoor activities. This growth has been particularly pronounced in emerging economies, spurred by changing consumer lifestyles and increased urbanization. In response to evolving preferences, competitors in the travel & tourism industry are leveraging advanced technology and research to craft innovative and versatile luggage solutions.
Leading brands, including Australian manufacturer Strandbags and startups alike, are developing products tailored to meet diverse customer needs, from business travel to leisure and sports activities. These offerings feature GPS trackers, high-security locks, and USB ports, among other amenities, to enhance convenience and security for travelers. Additionally, the integration of lighter materials and expandable capacities addresses concerns such as neck pain and shoulder fatigue, ensuring a comfortable journey for globetrotter. As the demand for luxury bags and durable luggage continues to rise alongside the flourishing tourism industry, the global market is poised for growth in the forecast period. With a focus on innovation and adaptability, industry players are poised to meet the evolving needs of modern travelers and outdoor enthusiasts.
The introduction of convertible and foldable luggage is an emerging trend in the market. Major competitors in the industry have emerged in terms of product types. With the development of time and technology, the popularity of multi-purpose luggage has increased.
For example, when packing for a vacation trip, additional baggage is often needed while returning, which might not fit in the already packed luggage. In such cases, products that can be useful are foldable or convertible luggage. These bags can be easily transported from one place to another. These products can also be packed in regular packaging without taking up too much space. If necessary, they can be converted into multipurpose baggage like duffle bags, trolley bags, tote bags, collapsible spinners, and others. Such factors will boost the global market growth during the forecast period.
The high product replacement cycle is a major challenge impeding the market. The most popular brands design suitcases from high-quality raw materials, which makes them more durable. The high cost and long lifespan of packaging are expected to affect the annual growth of the market during the forecast period.
Subsequently, revenue collection in the market becomes cyclical, as the average bag lasts at least three years and may depend more on its maintenance. In addition, companies that offer important warranties and guarantees extend the replacement period of quality baggage and accessories even more. Therefore, the long exchange cycle limits their sales and thus slows down the growth of the market. These factors will hinder the market growth during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Brics Industria Valigeria Fine Spa - The company offers various types of luggage bags and carry-on trolleys in different sizes and colors. The key offerings of the company include various types of luggage bags and carry-on trolleys.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is evolving with smart and luxury products like smart backpacks and smart trolley bags. Sustainability is key, driving sustainable production practices and water-resistant materials. Tech-enablement is enhancing security with features like security system of baggage and zippers. The market offers variants in color and design for shoulder bags, weekenders, and wheeled duffel bags. Despite transportation restrictions, the travel and tourism sector drives demand. Challenges include the shortage of manpower and competition from the unorganized baggage sector. Social media marketing is crucial for visibility, especially in supermarkets & hypermarkets.
The market is witnessing innovation with new product development including multi-functional luggage bags and packing cubes. Materials like polycarbonate, polyester, and polypropylene are popular, with a trend towards recycled materials. Premium features like Millepunte calfskin and premium leather accents cater to the professional and corporate sectors. Online retail stores and offline retail stores are key sales channels. Challenges include travel restrictions and resilient aviation infrastructure. Despite this, the market is buoyed by the rise in the workforce and demand from outdoor and adventure sports enthusiasts.
The global luggage and suitcase market is experiencing significant growth driven by factors such as innovation and technology in products like smart luggage with features like GPS tracking and LED light systems. Manufacturers are focusing on expandable spacing systems and internal subdivisions to enhance functionality. Innovative designs and limited-edition colors cater to consumer preferences, while investment in technology and automation improves production efficiency. Challenges include export and import bans and the harmful effects of plastic luggage, but opportunities abound with favorable exchange rates and increased competition driving product improvements and expansion of product lines.
Luggage Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.5% |
Market growth 2023-2027 |
USD 12.52 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.0 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 39% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adidas AG, Brics Industria Valigeria Fine Spa, DELSEY, Fox Luggage Inc., Groupe Artemis, LVMH Moet Hennessy Louis Vuitton SE, MCM Products USA Inc., Nike Inc., Safari Industries (India) Ltd., Samsonite International S.A., Strandbags Group Pty Ltd., Tapestry Inc., Under Armour Inc., United States Luggage Co. LLC, Valigeria Roncato Spa, VF Corp., Victorinox AG, VIP Industries Ltd., Wildcraft India Pvt. Ltd., and Yonex Co. Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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