Luggage & Travel Bags Market by Type (Carry-Ons, Garment Bags, Kids' Luggage), Product (Business Bags, Casual Bags, Travel Bags), Distribution Channel - Global Forecast 2024-2030

Luggage & Travel Bags Market by Type (Carry-Ons, Garment Bags, Kids' Luggage), Product (Business Bags, Casual Bags, Travel Bags), Distribution Channel - Global Forecast 2024-2030

The Luggage & Travel Bags Market size was estimated at USD 27.41 billion in 2023 and expected to reach USD 29.19 billion in 2024, at a CAGR 6.60% to reach USD 42.90 billion by 2030.

Luggage and travel bags refer to containers or carriers designed for storing and transporting personal belongings and items while traveling. These bags are essential for travelers, helping them organize and carry their clothing, accessories, and other necessities conveniently and securely. Increase in international travel driven by globalization, growing disposable income in emerging economies, expanding tourism industry, and rising demand for smart luggage with features such as GPS tracking devices fueling access to a broader range of products and increasing adoption of lightweight bags made from eco-friendly materials. Intense competition among key players leads to price competitiveness impacting profitability margins, counterfeit products flooding the markets affecting consumer trust in established brands. Government regulations on baggage dimensions and weight restrictions cause inconvenience to passengers leading them to opt for alternative packaging solutions, significantly hampering the market demand. Furthermore, collaborations with fashion brands to create stylish luggage options catering to trend-conscious consumers; product innovations that cater to specific needs, such as space-saving designs or versatile functionality suitable for multi-purpose uses, create a market opportunity in the forecasted period.

Regional Insights

Americas has a significant landscape in the luggage & travel bags market owing to strict regulations regarding product safety standards and environmental protection. Increasing disposable incomes, changing lifestyles, a growing tourism industry, and improvements in distribution channels have also contributed to the demand for the region's luggage and travel bags market. Strategic collaborations to develop smart luggage solutions are another factor manufacturers have adopted to enhance their regional presence. The EMEA region has witnessed rapid growth in eCommerce penetration in recent years as internet usage continues to proliferate across these regions; online sales of luggage and travel bags have also seen an upswing, which presents an immense opportunity for market players to establish their presence on various eCommerce platforms and capitalize on this trend. APAC has a developing market presence due to massive manufacturing capabilities and increasing consumer demand. Key manufacturers in this region have excelled in innovation by offering high-quality products with advanced features such as lightweight materials or smart tracking systems.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Luggage & Travel Bags Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Booming Travel and Tourism Industry Globally
    • Effects of Globalization and Growing Disposable Income among Middle-Class Population
    • Rising Demand for Innovative Luggage Products
    • Market Restraints
      • Availability of Cheaper Substitutes
      • Market Opportunities
        • Technological Advancements Such as Smart Luggage with GPS Tracker
        • Introduction of Sustainable Luggage & Travel Bags for Eco-Friendly Traveling
        • Market Challenges
          • Highly Unorganized Distribution Network and Loosely Defined Regulatory Norms
          • Market Segmentation Analysis
            • Type: Growing popularity of carry-ons luggage for saving time and effort during the travel
            • Distribution Channel: significant demand for purchasing luggage & travel bags from specialist retailers for quality assurance over low prices or convenience
            • Product: Rising usage travel bag due to its high durability, capacity-weight ratio adaptability, and security features
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Luggage & Travel Bags Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Luggage & Travel Bags Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Bioworld Adds to Their Luggage Category with the Recent Acquisitions of Hello Kitty, Weatherproof, and Rachel Roy
              
              Bioworld has expanded its luggage category by acquiring the license rights for popular brands such as Hello Kitty, Weatherproof, and Rachel Roy. This strategic move has not only expanded their portfolio but also provided travelers with a wide range of stylish and innovative solutions for both everyday use and vacation travel. With these new additions, Bioworld aims to meet the diverse needs of travelers, offering high-quality products that combine functionality and fashion.
              
              Luggage Companies Briggs & Riley and Solo partnered with JetBlue Travel Products to Launch First Retail Offering on Paisly
              
              Briggs & Riley and Solo have partnered with JetBlue Travel Products to introduce their inaugural retail product on Paisly in the luggage and travel bags category. This new luggage offering synergistically combines the respective strengths of Briggs & Riley and Solo, resulting in a travel experience that is not only effortless and functional but also exudes style.
              
              Blue Point-Backed Weaver Leather Zips Up Local Partnership with Ohio Travel Bag Acquisition
              
              Weaver Leather, backed by Blue Point Capital Partners, has acquired an Ohio-based travel bag company as part of its strategic expansion into the luggage and travel bag market. This acquisition will facilitate Weaver in offering a diverse range of products across multiple markets. Moreover, this acquisition is anticipated to establish a solid foundation for both companies, paving the way for increased growth opportunities in the future.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Luggage & Travel Bags Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Luggage & Travel Bags Market, highlighting leading vendors and their innovative profiles. These include ACE Co., Ltd., Adidas AG, American Tourister, BRIC'S, Briggs & Riley, California Pak International, Inc., Delsey S.A., Deuter Sport GmbH, Emblem Luggage, Globe-Trotter Group Limited, Hartmann Luggage, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Nappa Dori Private Limited, Nasher Miles, Nike, Inc., Safari, Inc., Samsonite International S.A., Timbuk2 Designs, Inc., Tommy Hilfiger B.V., Totto, Travelpro Products, Inc., VIP Industries Limited, and Wildcraft India Pvt. Ltd..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Luggage & Travel Bags Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Type
              • Carry-Ons
              • Garment Bags
              • Kids' Luggage
              • Luggage Sets
              • Suitcases
              • Product
                • Business Bags
                • Casual Bags
                • Travel Bags
                • Distribution Channel
                  • Factory Outlets
                  • Internet Sales
                  • Specialist Retailers
                  • Region
                    • Americas
                      • Argentina
                      • Brazil
                      • Canada
                      • Mexico
                      • United States
                        • California
                        • Florida
                        • Illinois
                        • New York
                        • Ohio
                        • Pennsylvania
                        • Texas
                        • Asia-Pacific
                          • Australia
                          • China
                          • India
                          • Indonesia
                          • Japan
                          • Malaysia
                          • Philippines
                          • Singapore
                          • South Korea
                          • Taiwan
                          • Thailand
                          • Vietnam
                          • Europe, Middle East & Africa
                            • Denmark
                            • Egypt
                            • Finland
                            • France
                            • Germany
                            • Israel
                            • Italy
                            • Netherlands
                            • Nigeria
                            • Norway
                            • Poland
                            • Qatar
                            • Russia
                            • Saudi Arabia
                            • South Africa
                            • Spain
                            • Sweden
                            • Switzerland
                            • Turkey
                            • United Arab Emirates
                            • United Kingdom
                            
                            
                            Please Note: PDF & Excel + Online Access - 1 Year