Luggage & Bags Market Size, Share, Growth, And Industry Analysis By Type (Spinner Luggage, Travel Pack, Duffel Bag, Luggage & Bags,) By Application (Travel, Business, Other), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Luggage and Bags Market Report Overview

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The global luggage & bags market size was USD 16810 million in 2022 and market is projected to touch USD 73594 million by 2031, at a CAGR of 17.8% from 2022 to 2031.

Explorers, trekkers, tourists, and travellers utilize travel bags as a sort of travel equipment to transport their clothing and other belongings. The most popular varieties of travel bags on the market include duffel bags, wheeled backpacks, rolling luggage, weekenders, totes, and travel packs. The hard-side versions are made from materials like polypropylene, polycarbonate, and acrylonitrile-butadiene-styrene (ABS), and they are ideal for transporting fragile goods and electronic devices. On the other hand, nylon, polyester, cotton, leather, and vinyl are used in the production of the robust and light-weight soft-side variations. These travel bags can be altered to meet the needs of the customer and come in a range of sizes, designs, and colors.

Consumer preferences for buying travel bags and other luggage through e-commerce platforms like Amazon and eBay have significantly changed as a result of the convenience of online purchasing. Due to an increase in business travel globally and economic growth in developing economies, the business bag market category is significantly expanding in the research industry.

COVID-19 Impact: COVID-19 Has Negatively Affected The Market Growth

Nearly every business has been impacted by the unmatched worldwide public health emergency known as COVID-19, and the long-term impacts are expected to have an influence on industry growth throughout the course of the forecast period. In order to assure the inclusion of underlying COVID-19 concerns and potential future directions, our continuous study expands upon our research approach. The paper provides information on COVID-19 taking into account changes in consumer demand and behaviour, buying habits, supply chain rerouting, dynamics of contemporary market forces, and significant government initiatives. Insights, analyses, projections, and forecasts are provided in the updated study, which takes the market impact of COVID-19 into account.

Latest Trends

"Rising Consumer Preference High-End Luggage Leading Market Expansion"

Rising urbanization, rising consumer preference for high-end luggage, equipped with a GPS tracker, a USB port that allows application for recharging cell phone batteries, and a Bluetooth-enabled lock are just a few factors to stumble on, which are predicted to boost demand for luggage-related products.

Luggage and Bags Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Spinner Luggage, Travel Pack, Duffel Bag, and Luggage & Bags. Spinner Luggage is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Travel, Business, Other. Travel segment. Travel will be the dominating segment.

Driving Factors

"An Increase In Travel Will Positively Affect The Market For Travel Bags"

Traveling is steadily gaining popularity among all people. Everyone has travel plans, whether they be for a domestic or international journey. Travel is becoming a popular way for people to unwind and get away from their mundane everyday lives.

One issue that every traveller consistently faces is luggage. It's never easy to decide what to pack and what is essential when travelling. Travelers prefer larger or several baggage to avoid such hassle. The demand for travel bags will increase as tourism increases. Travel bag sales will therefore continue as long as the tourism industry is doing well.

"Significant Development In The Tourism Sector Positively Affect The Market"

The expanding travel and tourist sectors are strongly correlated with the rise in demand for luggage bags. The travel and tourism sector has seen substantial expansion during the last few years. The tourism sector is currently one of the most dynamic and diverse businesses in the world. Strong outbound tourism is present in nations including China, the United States, South Korea, Brazil, the Netherlands, Spain, Germany, and the United Kingdom. Additionally, over the past few years, the baby boomer segment's expenditure on leisure travel has been rising quickly, which has further fueled the market's expansion.

The World Tourism Organization (UNWTO) reports that there were 1.3 million international arrivals worldwide in 2017. The World Tourism Organization (UNWTO) reports that 1.3 billion people visited other countries for business or pleasure in 2019. However, as a result of the COVID-19 pandemic, there were much fewer foreign visitors arriving in 2020—only 0.4 billion—which led to a sharp decline in travel bag sales. However, the demand for backpacks, travel packs, smart baggage bags, carpet bags, duffel bags, and laptop bags is also anticipated to rise in the years to come in 2021 as governments around the world loosen travel restrictions and tourism grows.

Restraining Factors

"Market For Travel Bags May Be Negatively Impacted By Increased Competition And A Decline In The Number Of Travellers"

The primary difficulties for travel bag producers are the availability of regional brands that are substantially less expensive and changes in the tourism industry. There are times when the tourism industry is closed. The COVID outbreak was one such instance. During the pandemic, tourism was completely halted all around the world for about a year. This has a significant impact on the travel luggage industry as well as other tourism-related companies.

Luggage and Bags Market Regional Insights

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"Asia-Pacific Is Now The Region With The Fastest Growth"

The luggage business in Asian nations like India has grown extremely competitive, with newcomers like Da Milano fighting against established names like VIP. A rise in travel and tourism activities as well as an increase in business travellers are predicted to fuel market growth and increase demand for travel and business bags. Around 26.92 million Indians visited abroad in 2019, up 11.69% from the previous year, according to the Indian Ministry of Tourism. This suggested that there was more demand for luggage. The amount of travel in this area has increased dramatically due to the increase in urbanisation and leisure activities. More people are gravitating toward designer and branded travel gear, such as bags. Luggage has changed in recent years from being primarily used for transporting clothes to becoming a more comfortable, practical, and multipurpose travel companion. The Asia-Pacific baggage market is expanding its involvement in the manufacture of duffel bags, laptop bags, backpacks, and other different business travel bags, which is advancing the market in the Asia-Pacific area.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Samsonite (Hong Kong)
• VIP Industries Limited (India)
• Safari (India)
• Delsey (France)
• Briggs and Riley (New York)
• Rimowa (Germany)
• VF Corporation (Eagle Creek and Eastpak) (Colorado)
• Travelpro (U.S.)
• Tommy Hilfiger (Netherlands)
• Victorinox (Switzerland)
• Louis Vuitton (France)
• Echolac (Japan)
• ACE (U.S.)
• Tumi (U.S.)
• American Tourister (U.S.)
• HIDEO WAKAMATSU (Tokyo)
• Crown luggage (U.S.)
• Oiwas (China)
• Eminent luggage (Taiwan)
• Diplomat (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.