Global Leather Luggage Market to Reach $229.6 Billion by 2030
The global market for Leather Luggage estimated at US$135.5 Billion in the year 2023, is expected to reach US$229.6 Billion by 2030, growing at a CAGR of 7.8% over the analysis period 2023-2030. Travel Bags, one of the segments analyzed in the report, is expected to record a 8.3% CAGR and reach US$116.3 Billion by the end of the analysis period. Growth in the Casual Bags segment is estimated at 7.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $35.6 Billion, While China is Forecast to Grow at 11.5% CAGR
The Leather Luggage market in the U.S. is estimated at US$35.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$55.8 Billion by the year 2030 trailing a CAGR of 11.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 7.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$33 Billion by the year 2030.
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