Luggage & Bag Trends and Forecast
The future of the global luggage & bag market looks promising with opportunities in the travel and business markets. The global luggage & bag market is expected to reach an estimated $42.4 billion by 2030 with a CAGR of 16.3% from 2024 to 2030. The major drivers for this market are growth in travel will positively affect the market for travel bags, rising expansion of travel and tourist sectors, and increasing focus on functionality and innovation.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Luggage & Bag by Segment
The study includes a forecast for the global luggage & bag by type, application, and region.
Luggage & Bag Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Spinner Luggage
• Travel Pack
• Duffel Bag
• Luggage & Bags
Luggage & Bag Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Travel
• Business
• Others
Luggage & Bag Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Luggage & Bag Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies luggage & bag companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the luggage & bag companies profiled in this report include-
• Samsonite
• VIP Industries
• Safari
• Delsey
• Briggs and Riley
• Rimowa
• VF Corporation
• Travelpro
• Tommy Hilfiger
• Victorinox
Luggage & Bag Market Insights
Lucintel forecasts that spinner luggage will remain the largest segment over the forecast period.
Within this market, travel will remain the larger segment.
APAC is expected to witness highest growth over the forecast period due to the rise in urbanization and leisure activities.
Features of the Global Luggage & Bag Market
Market Size Estimates: Luggage & bag market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Luggage & bag market size by type, application, and region in terms of value ($B).
Regional Analysis: Luggage & bag market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the luggage & bag market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the luggage & bag market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the luggage & bag market size?
Answer: The global luggage & bag market is expected to reach an estimated $42.4 billion by 2030.
Q2. What is the growth forecast for luggage & bag market?
Answer: The global luggage & bag market is expected to grow with a CAGR of 16.3% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the luggage & bag market?
Answer: The major drivers for this market are growth in travel will positively affect the market for travel bags, rising expansion of travel and tourist sectors, and increasing focus on functionality and innovation.
Q4. What are the major segments for luggage & bag market?
Answer: The future of the global luggage & bag market looks promising with opportunities in the travel and business markets.
Q5. Who are the key luggage & bag market companies?
Answer: Some of the key luggage & bag companies are as follows:
• Samsonite
• VIP Industries
• Safari
• Delsey
• Briggs and Riley
• Rimowa
• VF Corporation
• Travelpro
• Tommy Hilfiger
• Victorinox
Q6. Which luggage & bag market segment will be the largest in future?
Answer: Lucintel forecasts that spinner luggage will remain the largest segment over the forecast period.
Q7. In luggage & bag market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to the rise in urbanization and leisure activities.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the luggage & bag market by type (spinner luggage, travel pack, duffel bag, and luggage & bags), application (travel, business, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Luggage & Bag Market, Luggage & Bag Market Size, Luggage & Bag Market Growth, Luggage & Bag Market Analysis, Luggage & Bag Market Report, Luggage & Bag Market Share, Luggage & Bag Market Trends, Luggage & Bag Market Forecast, Luggage & Bag Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.