Luggage And Bags Market Analysis: Growth, Size, Share & Future Trends (2024-2029) 

The market report offers a detailed analysis segmented by Type (Spinner Luggage, Travel Pack, Duffel Bags, Luggage & Bags); by Application (Travel, Business, Others); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).

Outlook 

• The luggage & bags market is estimated to be at USD 27,821.01 Mn in 2024 and is anticipated to reach USD 55,348.52 Mn in 2029. 

• The luggage & bags market is registering a CAGR of 14.75% during the forecast period of 2024-2029. 

• The global luggage and bags market has seen steady growth driven by the rising travel and tourism industry, increasing disposable income, and the growing preference for stylish and functional luggage. 

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Ecosystem 

• The global luggage & bags industry participants are always developing strategies to preserve a competitive advantage. 

• These companies are focusing on innovation, sustainable sourcing, and expanding product offerings to meet the evolving needs of consumers. 

• Several important entities in the luggage & bags market include Samsonite International S.A.; VIP Industries Ltd.; Tumi Holdings, Inc.; Safari Industries Ltd.; Delsey A/S; and others. 

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Findings 

Attributes	Values
Historical Period	2018-2022
Base Year	2023
Forecast Period	2024-2029
Market Size (2024)	USD 27,821.01 Mn
Market Size (2029)	USD 55,348.52 Mn
Growth Rate	14.75% CAGR from 2024 to 2029
Key Segments	Type (Spinner Luggage, Travel Pack, Duffel Bags, Luggage & Bags); Application (Travel, Business, Others); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa)
Key Vendors	Samsonite International S.A.; VIP Industries Ltd.; Tumi Holdings, Inc.; Safari Industries Ltd.; Delsey A/S
Key Countries	The US; Canada; Mexico; Brazil; Argentina; Colombia; Chile; China; India; Japan; South Korea; The UK; Germany; Italy; France; Spain; Turkey; UAE; Saudi Arabia; Egypt; South Africa
Largest Market	Asia Pacific

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Trends  

• Integration of Smart Features: The incorporation of innovative technology into luggage and bags is a significant trend, with features such as GPS tracking, USB charging ports, and built-in weight sensors becoming more common. Companies like Away and Rimowa have introduced smart luggage options that offer travelers additional functionalities. 

• Multi-Functional Designs: There is a growing demand for luggage and bags that offer versatility and can serve multiple purposes. Multi-functional designs, such as bags that convert from backpacks to briefcases, are gaining traction among urban travelers and professionals. This trend highlights the industry’s response to the changing needs of modern consumers who value adaptability in their travel gear. 

• Lightweight and Compact Designs: The minimalist travel movement is influencing the design and functionality of luggage, with a focus on compact, lightweight products that maximize efficiency. This trend reflects the broader consumer preference for simplicity and practicality, particularly among frequent travelers and those adhering to strict airline baggage policies. 

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Catalysts 

• Growth in Global Travel and Tourism Industry: The global travel and tourism industry is a primary driver of the luggage and bags market. As international travel recovers post-pandemic, demand for new and updated luggage increases. This surge is further fueled by evolving consumer preferences for innovative, functional designs that enhance travel convenience. 

• Increasing Preference for Branded and Fashionable Products: Consumers are increasingly opting for branded and fashionable luggage, driven by the influence of social media and celebrity endorsements. Brands capitalize on this trend by collaborating with designers and influencers to create stylish and trendy collections. In 2023, the collaboration between Louis Vuitton and Virgil Abloh on a limited-edition luggage line was highly successful, highlighting the strong demand for luxury branded products. 

• Expansion of E-Commerce Platforms: E-commerce has significantly expanded the reach of luggage and bag manufacturers, allowing them to cater to a global customer base. Online sales of luggage and bags have surged, with many consumers preferring the convenience and variety offered by online shopping. 

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Restraints 

• Fluctuating Raw Material Prices: The cost of raw materials such as leather, metals, and synthetic fabrics fluctuates, impacting production costs and profit margins. Volatile prices increase manufacturers’ expenses, as they need to adjust product pricing to maintain profitability. This uncertainty in raw material costs influences market dynamics and consumer pricing trends. 

• Counterfeit Products and Brand Imitation: The rise of counterfeit products and brand imitations poses a significant challenge to the luggage and bag market. These fake items often enter the market at lower prices, undermining authentic brands’ sales and damaging their reputation. The prevalence of such counterfeits can erode consumer trust and negatively impact genuine brand performance. 

• Environmental Regulations and Compliance: Stricter environmental regulations on material use and manufacturing processes are challenging for luggage and bag manufacturers. Companies must comply with these regulations to minimize their environmental impact, often resulting in higher production costs. In 2023, the European Union implemented new rules on using plastics in manufacturing, affecting several regional manufacturers. 

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Table of Contents 

1.       Introduction         1.1.    Research Methodology         1.2.    Scope of the Study  2.       Market Overview / Executive Summary         2.1.    Global Luggage & Bags Market (2018 – 2022)         2.2.    Global Luggage & Bags Market (2023 – 2029)  3.       Market Segmentation         3.1.    Global Luggage & Bags Market by Type                3.1.1.    Spinner Luggage                3.1.2.    Travel Pack                3.1.3.    Duffel Bags                3.1.4.    Luggage & Bags         3.2.    Global Luggage & Bags Market by Application                3.2.1.    Travel                3.2.2.    Business                3.2.3.    Others  4.       Regional Segmentation         4.1.    North America                4.1.1.    The US                4.1.2.    Canada                4.1.3.    Mexico         4.2.    South America                4.2.1.    Brazil                4.2.2.    Argentina                4.2.3.    Colombia                4.2.4.    Chile                4.2.5.    Rest of South America         4.3.    Asia Pacific                4.3.1.    China                4.3.2.    India                4.3.3.    Japan                4.3.4.    South Korea                4.3.5.    Rest of Asia Pacific         4.4.    Europe                4.4.1.    The UK                 4.4.2.    Germany                4.4.3.    Italy                4.4.4.    France                4.4.5.    Spain                4.4.6.    Rest of Europe         4.5.    The Middle East                4.5.1.    Turkey                4.5.2.    UAE                4.5.3.    Saudi Arabia                4.5.4.    Rest of the Middle East         4.6.    Africa                4.6.1.    Egypt                4.6.2.    South Africa                4.6.3.    Rest of Africa  5.       Value Chain Analysis of the Global Luggage & Bags Market  6.       Porter Five Forces Analysis         6.1.    Threats of New Entrants         6.2.    Threats of Substitutes         6.3.    Bargaining Power of Buyers         6.4.    Bargaining Power of Suppliers         6.5.    Competition in the Industry  7.       Trends, Drivers and Challenges Analysis         7.1.    Market Trends         7.1.1.    Market Trend 1         7.1.2.    Market Trend 2         7.1.3.    Market Trend 3         7.2.    Market Drivers         7.2.1.    Market Driver 1         7.2.2.    Market Driver 2         7.2.3.    Market Driver 3         7.3.    Market Challenges         7.3.1.    Market Challenge 1         7.3.2.    Market Challenge 2         7.3.3.    Market Challenge 3  8.       Opportunities Analysis         8.1.    Market Opportunity 1         8.2.    Market Opportunity 2         8.3.    Market Opportunity 3  9.       Competitive Landscape         9.1.    Samsonite International S.A.         9.2.    VIP Industries Ltd.         9.3.    Tumi Holdings, Inc.         9.4.    Safari Industries Ltd.         9.5.    Delsey A/S         9.6.    Company 6         9.7.    Company 7         9.8.    Company 8         9.9.    Company 9         9.10.  Company 10

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Luggage & Bags Market – FAQs 

1.  What is the current size of the luggage & bags market? 

Ans. In 2024, the luggage & bags market size is USD 27,821.01 Mn. 

2.  Who are the major vendors in the luggage & bags market?  

Ans. The major vendors in the luggage & bags market are Samsonite International S.A.; VIP Industries Ltd.; Tumi Holdings, Inc.; Safari Industries Ltd.; Delsey A/S. 

3.  Which segments are covered under the luggage & bags market segments analysis?  

Ans. The luggage & bags market report offers in-depth insights into Type, Application, and Geography.