What is Global Luggage & Bags Market?
The Global Luggage & Bags Market is an expansive and diverse sector that encompasses a wide range of products designed to meet the needs of consumers worldwide. This market includes everything from small handbags and backpacks to large suitcases and travel bags. It's a global industry that caters to the needs of millions of people who travel for various reasons - be it for business, leisure, or other personal reasons. The market is driven by factors such as increasing travel and tourism, growing urbanization, and the rise of online retailing. The global luggage and bags market is not just about providing storage solutions for travelers, but it's also about fashion, style, and making a statement.
Spinner Luggage, Travel Pack, Duffel Bag in the Global Luggage & Bags Market:
The Global Luggage & Bags Market is segmented into various types of products such as Spinner Luggage, Travel Pack, and Duffel Bag. Spinner Luggage is a type of suitcase that comes with four multi-directional wheels. This feature allows the suitcase to be pushed or pulled in any direction, making it easier for travelers to navigate through crowded airports or narrow airplane aisles. Travel Packs are versatile bags that can be carried in multiple ways. They can be worn as a backpack, carried as a duffel bag, or rolled like a suitcase. Duffel Bags are cylindrical bags made of cloth or other fabric. They are typically used for carrying heavy or bulky items and are popular among athletes and military personnel. Each of these products caters to different consumer needs and preferences, contributing to the diversity and growth of the global luggage and bags market.
Travel, Business, Other in the Global Luggage & Bags Market:
The Global Luggage & Bags Market serves a variety of purposes across different areas such as Travel, Business, and Other. In the Travel sector, luggage and bags are essential for carrying personal belongings and travel necessities. They come in various sizes and designs to accommodate different travel needs, whether it's for a short weekend getaway or a long international trip. In the Business sector, luggage and bags are used for carrying work-related items such as laptops, documents, and business attire. They are designed to be professional and functional, with features like padded laptop compartments and organizer panels for pens and business cards. In the Other sector, luggage and bags are used for various purposes such as sports, outdoor activities, and everyday use. They are designed to be durable and versatile, with features like water-resistant materials and multiple compartments for organization.
Global Luggage & Bags Market Outlook:
The future outlook for the Global Luggage & Bags Market is promising. In 2023, the market was valued at a substantial US$ 14040 million. It is projected to grow to an impressive US$ 18200 million by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 3.7% during the forecast period from 2024 to 2030. Samsonite, a renowned name in the industry, holds the position of the world's largest manufacturer of luggage and bags, commanding approximately 8 percent of the market. When it comes to product segmentation, Travel Luggage takes the lead, accounting for over 92% of the market share. This data underscores the significant role that the luggage and bags market plays in our global economy and everyday lives.
| Report Metric | Details |
| Report Name | Luggage & Bags Market |
| Accounted market size in 2023 | US$ 14040 million |
| Forecasted market size in 2030 | US$ 18200 million |
| CAGR | 3.7% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Samsonite, VIP Industries Limited, Safari, Delsey, Briggs and Riley, Rimowa, VF Corporation (Eagle Creek and Eastpak), Travelpro, Tommy Hilfiger, Victorinox, Louis Vuitton, Echolac, ACE, Tumi, American Tourister, HIDEO WAKAMATSU, Crown luggage, Oiwas, Eminent luggage, Diplomat |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
