Luggage Market Size, Share & Trends Analysis Report By Type (Travel Bags, Business Bags, Casual Bags), By Material (Soft-sided, Hard-sided), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2024 - 2030

Luggage Market Size, Share & Trends Analysis Report By Type (Travel Bags, Business Bags, Casual Bags), By Material (Soft-sided, Hard-sided), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2024 - 2030

Luggage Market Growth & Trends

The global luggage market size was estimated to reach USD 61.49 billion in 2030, growing at a CAGR of 7.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Urbanization and increased disposable income are also contributing to the rising demand for luggage bags. Rapid urbanization and a growing middle class, particularly in developing regions like Asia-Pacific, are leading to higher disposable incomes. This economic shift allows more consumers to invest in quality luggage products. The rise in disposable income also leads to a greater inclination towards purchasing luxury and designer luggage items, further boosting market demand.

Technological innovations also influence the demand for luggage bags. The introduction of smart luggage featuring GPS tracking, USB charging ports, and other tech-enabled functionalities is appealing to modern consumers who prioritize convenience and security while traveling. Innovations in materials and designs-such as lightweight polycarbonate luggage-are also attracting consumers looking for both functionality and style. Changing consumer preferences are also driving the demand for luggage bags. There is a notable shift towards eco-friendly products as consumers become more environmentally conscious. Manufacturers are responding by offering sustainable options that align with these values.

Additionally, the increasing popularity of adventure travel among younger generations is driving demand for versatile luggage options that cater to various travel needs-from business trips to leisure travel. The rise of e-commerce has also contributed to the growing demand for luggage bags. The growth of online shopping has made it easier for consumers to access a wide range of luggage options. E-commerce platforms are expanding their offerings, allowing consumers to compare products easily and make informed purchasing decisions.

Luggage Market Report Highlights

• Asia Pacific is expected to grow at a CAGR of 7.9 % from 2024 to 2030. As more people in Asia Pacific move to urban centers, there is a growing trend toward lifestyle changes that include frequent travel for work, education, and leisure. This shift has led to an increased need for travel-related products like durable and stylish luggage bags.
• Casual luggage bags type segment is expected to growth at a CAGR of 7.3% from 2024 to 2030. Casual luggage bags are often designed with user comfort in mind, featuring padded straps, ergonomic designs, and lightweight materials. This makes them easy to carry for long periods, making them popular for travelers and everyday use.
• Hard-sided luggage material segment is expected to growth at a CAGR of 7.3% from 2024 to 2030. Hard-sided luggage often comes with enhanced security features like built-in locks (TSA-approved locks), making it more difficult for thieves to tamper with the bags. The rigid structure also makes it harder to break into, which increases the appeal for travelers concerned about safety.
• Sales through online channels are expected to grow at a CAGR of 7.5% from 2024 to 2030. Online platforms often provide a broader selection of luggage types, styles, and price ranges compared to physical stores. Consumers can also find exclusive designs or limited-edition products online, catering to personalized preferences and making it easier to find bags that suit individual needs.

Please note The report will be delivered in 2-3 business days upon order notification.