A recent study by Fact.MR, a leading provider of market research and competitive intelligence, reveals that the global Luggage Market (荷物市場) is poised to reach a value of US$ 57,480.5 million by 2024, with a projected Compound Annual Growth Rate (CAGR) of 5.3% until 2034. By the end of 2034, experts anticipate the market to exceed US$ 96,290.7 million.

 

The landscape of luggage has undergone significant evolution over time. What once were conventional suitcases have now transitioned into sophisticated smart trolley bags. The emergence of automation in the luggage industry is reshaping the travel experience. Manufacturers are leveraging innovative technologies to develop intelligent bags capable of performing tasks beyond mere item transportation.

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Key Segments of Luggage Industry Research Report
The younger generation, often known as Gen Z, greatly emphasizes travel and tourism, making baggage an essential commodity. Furthermore, this group considers smart luggage, which provides enhanced functionality and ease, a premium item.

The baggage industry is expanding rapidly, owing to the growing popularity of e-commerce platforms, social media marketing, celebrity endorsements, and the incorporation of automated technologies. These elements considerably impact the market environment and create demand for new, high-quality baggage goods.

Customers may browse for baggage items from the comfort of their own homes thanks to the ease and accessibility provided by e-commerce platforms. Simultaneously, social media marketing and celebrity endorsements affect consumer-purchasing decisions. Furthermore, putting automated technology into baggage items improves their usefulness and convenience, improving their customer appeal.

Changing fashion trends, color and design variations, and product durability developments influence the worldwide baggage business. When purchasing baggage, these factors considerably influence customer choices and preferences. Manufacturers and merchants continuously create and enhance their products with an emphasis on endurance and elegance to meet the demands of the market.

“The global luggage market is expected to thrive due to increased tourist and business travel, new product variations, investments in intelligent baggage goods, online distribution, and increased hard luggage penetration. However, travel patterns and raw material costs heavily influence the industry's performance.” says a Fact.MR analyst.

Key Takeaways from the Market Study

  • The global luggage market is projected to expand at a CAGR of 5.3% through 2034.
  • The North American luggage market is expected to grow at a modest rate of 5.5% through 2034.
  • Over the following ten years, the Chinese baggage market is estimated to develop steadily at a CAGR of 6.3%, reaching 2034.
  • The Luggage industry in the United States holds a dominant share of 68.5% in 2024. The United States dominates the global luggage market, valued at US$ 10,119.2 million in 2024, with factors such as the advanced tourism industry and technological advancements in baggage contributing to its dominance.
  • The soft luggage segment dominates materials with a 62.3% share in 2024.
  • Based on the product type, casual bags hold a 55.7% market share in 2024.

Companies Poised to Meet Growing Demands for Lightweight Baggage for Heavy-duty Travelers

Luggage manufacturers can expand and innovate by offering durable, lightweight, and versatile luggage for ecotourism, adventure travel, glamping, and corporate travel. Market players can provide charging outlets, weight sensors, TSA-approved locks, and GPS tracking to streamline travelers' journeys.

Luggage firms can appeal to environmentally conscious consumers using eco-friendly production methods, recyclable materials, and repair services. They can also offer competitive rates through social media marketing and online shopping and provide subscription boxes or baggage rentals for specific travel needs.

Smart homes and travel applications can integrate luggage with smart homes for automated check-in, monitoring, and route optimization. Autonomous baggage can enhance passenger experience with security and convenience, and facial or fingerprint recognition technology can provide secure access.

Companies can stay competitive by targeting areas with growing disposable incomes, observing travel trends, combining online and offline channels for increased reach and client interaction, and collaborating with airlines, travel agents, and bloggers. Luggage firms can capitalize on this opportunity to maintain their position in the rapidly growing industry.

Competitive Landscape

The luggage industry is supported by essential players who wield substantial influence and play a crucial part in the expanding travel and tourist industry; the increase in the migrating population and increased disposable income fuel the growth pace. Delsey S.A., Samsonite International S.A., VIP Industries Ltd., LVMH Mot Hennessy Louis Vuitton SE, NIKE, Inc., Ace Co., Ltd., Briggs & Riley Travelware, VF Corporation, MCM Worldwide, Antler Ltd., V.F Corporation, Etienne Aigner AG, Barracuda, Inc., and Rimowa GmbH are the leading players in the luggage industry. As the worldwide luggage market prepares for significant development, fuelled by rising demand from these critical industries, the competitive landscape is being shaped by several relevant factors.

The luggage industry is highly fragmented, with several global and regional firms. Manufacturing firms use various marketing methods to increase visibility, including extending distribution channels, improving the supply chain, and mergers and acquisitions. The top players are investing more in social media marketing, promotional efforts, and advertising campaigns to expand their global geographic reach.

  • In December 2023, LEVEL8 Luggage expands its product selection with the new Festive Collection, which includes the Luminous Textured Carry-On 20" and the graceful Voyageur Check-in 28".
  • In November 2023, The Bluesmart Series 4 Luggage was released with an inbuilt eSIM for accessing global connectivity and face recognition.

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Segmentation of Luggage Market Research

  • By Product Type:
    • Travel Bags
    • Casual Bags
    • Business Bags
  • By Size:
    • Small
    • Medium
    • Large
  • By Price Range:
    • Low
    • Medium
    • Premium
  • By Material Type:
    • Soft Luggage
    • Hard Luggage
  • By Sales Channel:
    • Hypermarket / Supermarket
    • Specialty Retailers
    • Discount Stores
    • Exclusive Stores
    • Independent Small Retailers
    • Online Retailers
    • Others
  • By Region:
    • North America
    • Europe
    • Latin America
    • East Asia
    • South Asia & Oceania
    • The Middle East & Africa

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