Global luggage market has been witnessing steady growth over the past few years. Luggage refers to bags, suitcases or trunks that are used for carrying clothes, personal items, and other belongings while travelling. Rapid urbanization, increasing disposable incomes, and growing tourism and travel industry are some of the key factors boosting demand for luggage worldwide. Moreover, innovations in material and design focused on creating lightweight yet durable bags have augmented the popularity of new product varieties. Various types of luggage available in the market include duffle bags, suitcases, backpacks, and trolleys. Major players are introducing smart features such as USB charging ports, trackers, and digital locks to cater to the evolving needs of tech-savvy consumers. Global luggage market is expected to witness growth significantly in the near future due to rising international trade, business travel, and migration.
Market Dynamics:
Global luggage market growth is driven by factors such as rising tourism activities worldwide, rapidly growing aviation sector in emerging nations, increasing disposable incomes, and changing lifestyle and travel patterns of consumers. According to the 2021, World Tourism Organization, international tourist arrivals grew by 6% in 2017 to reach 1.3 Bn in 2022. Continued growth in tourism is expected to boost demand for suitcases, duffle bags, and other baggage over the forecast period. Further, high internet penetration and boom in e-commerce have made luggage shopping convenient for consumers, thus, promoting online sales. However, availability of low-cost counterfeit products poses a major challenge for established brands. Also, fluctuations in raw material prices affect the overall production cost of luggage manufacturers. Introduction of smart and innovative products presents lucrative opportunities. Market players are focusing on developing lightweight, durable, and technologically advanced bags.
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* Browse 48 market data tables* and 36 figures* on "Global Luggage Market” - Global forecast to 2031.
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