LUGGAGE MARKET ANALYSIS

Luggage MarketSize and Trends

The luggage Market size is valued at US$ 20.93 Bn in 2024 and is expected to reach US$ 35.67 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.

Global Luggage Market- Trends

Focus towards Eco-friendly Luggage: Global luggage market is witnessing a notable shift towards more eco-friendly and sustainable luggage options as consumer preferences evolve. There is a growing demand for luggage made from recycled, recyclable and natural materials that have a lower environmental impact. Companies are increasingly focusing on utilizing recycled plastic, organic fabrics and other renewable resources in their luggage manufacturing processes.

For instance, in 2021, major brands like Tumi, Patagonia and Away offered luggage lines made partially or completely from recycled polyester. Recycled polyester is created from discarded plastic bottles, and its use reduce plastic waste. Similarly, Eco-Age, a sustainability consultancy,  partnered with carrier Rimowa to launch a unisex collection made of recycled aluminum and recycled polycarbonate in December 2021. The collection helped Rimowa to lower its carbon footprint.

This trend towards eco-friendly alternatives is being fueled by growing environmental consciousness among younger consumers and changing regulations. According to a survey by The United Nations Environment Programmed (UNEP) in 2021, over 70% of Gen Z consumers indicated them would change to brands more committed to social and environmental issues. Separately, the European Union implemented stringent rules on durability and reparability of products in its Eco design Directive in 2021, pushing luggage brands to make more sustainable design choices.

The shift towards eco-friendly luggage shows no signs of slowing. As consumer awareness and demand for sustainable products rise, major brands will have to continuously innovate with new green materials and manufacturing practices to remain competitive in the evolving luggage marketplace.

Adoption of Smart Luggage: The adoption of smart luggage is having a significant influence on the global luggage market. Smart luggage integrates technology features like GPS tracking, USB charging ports, wheels that charge devices, and scales to weigh bags right on the luggage. As travelers become increasingly dependent on their mobile devices and wish to easily track their bags, smart luggage addresses these key consumer needs. Major luggage brands like Away, Raden, and Samsonite are strongly promoting their smart bag offerings. As a result, the share of smart and connected luggage has been steadily increasing compared to traditional hard-shell and soft-sided bags.

The growing popularity of smart luggage is encouraging other existing luggage brands to incorporate basic smart features into their classic bag collections. It is also prompting the entry of new startups solely focused on designing innovative smart bags. Consumers expect their luggage to seamlessly integrate with their mobile and complement their constantly connected lifestyles. Smart functions alleviate many travel hassles and offer a sense of security when checking bags. This has made smart luggage very appealing to frequent leisure and business travelers alike.

By addressing key pain points of modern travelers and their urge to be constantly connected, smart luggage has emerged as a game-changing trend in the global luggage industry. It is spurring existing players to incorporate smart attributes and attracting new market entrants as well. Continued air travel growth indicates further opportunities for smart bag manufacturers to capture the demands of frequent travelers seeking stress-free travel experiences.