Global bags and luggage market value from 2021 until 2027

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.