In 2022, the bags and luggage market was valued at approximately 152 billion U.S. dollars worldwide and was forecast to be worth 200 billion dollars in 2026.
The global luggage market
Historically, luggage consisted of trunks or chests, but today they include briefcases, backpacks and suitcases. Consumers have a large variety of different sizes, colors, and styles they can choose from which suits their particular purpose and personal style. Luggage can be segmented into travel, business or casual use. Disposable income amongst consumers and the growing economy are the main factors which fuels leisure travel and thus, luggage purchases. The travel and tourism market revenue was highest in the United States in 2023, folllowed by China and Germany.
Samsonite
The largest player in global travel goods is Samsonite. The company was founded in 1910 in the United States, however has since moved it’s head of operations to Luxembourg. Samsonite operates several popular brand names, including American Tourister, Tumi, Speck and High Sierra, to name a few. As of 2022, a seventy percent share of Samsonite’s net sales was attributed to travel-related products. North America was the leading region of Samsonite sales, followed closely by Asia.
Bags and luggage market value forecast worldwide from 2021 to 2027
(in billion U.S. dollars)
Characteristic
Market value in billion U.S. dollars
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Bags and luggage, as defined by Euromonitor, includes handbags, backpacks,
business bags, crossbody bags, duffel bags and cases which serve common
everyday purposes or specific functions during travel, sports or formal occasions.
Sports equipment bags, such as golf, tennis and bowling, insulated food and
beverage bags and musical instrument cases are excluded.
This Statista estimate is based on the 2023 value and the compound annual growth rate until 2027 of 6.3%, which were provided by the source. An exponential development of the value was assumed. The values for 2021 to 2023 were provided by the source.
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Statista. (May 11, 2023). Bags and luggage market value forecast worldwide from 2021 to 2027 (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/1236054/bags-luggage-market-value-forecast/
Statista. "Bags and luggage market value forecast worldwide from 2021 to 2027 (in billion U.S. dollars)." Chart. May 11, 2023. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/1236054/bags-luggage-market-value-forecast/
Statista. (2023). Bags and luggage market value forecast worldwide from 2021 to 2027 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/1236054/bags-luggage-market-value-forecast/
Statista. "Bags and Luggage Market Value Forecast Worldwide from 2021 to 2027 (in Billion U.S. Dollars)." Statista, Statista Inc., 11 May 2023, https://www.statista.com/statistics/1236054/bags-luggage-market-value-forecast/
Statista, Bags and luggage market value forecast worldwide from 2021 to 2027 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1236054/bags-luggage-market-value-forecast/ (last visited August 25, 2024)
Bags and luggage market value forecast worldwide from 2021 to 2027 (in billion U.S. dollars) [Graph], Statista, May 11, 2023. [Online]. Available: https://www.statista.com/statistics/1236054/bags-luggage-market-value-forecast/