Latest News- Luggage Market: Specialty stores is expected to lead the Distribution Channel segment during 2025-2029

The Luggage Market is being driven by Growth of travel and tourism industry

The Luggage Market is expected to grow at a CAGR of 8.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 16638.6 million. In alignment with the expanding travel and tourism sector, the luggage market has witnessed significant advancements. The demand for versatile luggage solutions has surged, particularly for multi-purpose bags that cater to the unforeseen need for additional space during return journeys. Enter the foldable or convertible luggage segment, which addresses this issue effectively. For instance, Paravel's latest introduction, the Aviator suitcase, launched in November 2022, offers carry-on and carry-on plus sizes. These foldable bags ensure ease of transportation and adaptability to evolving packing requirements. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Specialty stores
  • Department stores hypermarkets and supermarkets
  • Online retail
  • Warehouse clubs
• Product
  • Travel luggage
  • Casual luggage
  • Business luggage
  • Sports luggage
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growth of travel and tourism industry
• Rising participation of women and children in sports
• Shifting preferences for better lifestyle

However, the market also witnesses some limitations, which are as follows:

• Increasing restrictions on smart luggage by airlines for security purposes
• Threat of intense competition from local brands
• Unfavorable weather and seasonality patterns

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Market Scope in Luggage Market Research Report

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Research Analysis Overview

The luggage market is experiencing significant growth due to the tourism industry's surge, with outbound tourists and professionals in sports and outdoor activities driving demand. Millennials and Gen Z prefer athleisure luggage, and startups like Australian manufacturer Strandbags offer discounted, high-tech options. Emerging economies and urbanization fuel consumer lifestyle trends, leading to demand for luxury bags with GPS trackers, high-security locks, USB ports, sturdy wheels, expandable capacity, and lighter material. Baggage includes suitcases, possessions, and traditional wooden trunks and chests, with technology integration becoming increasingly popular. Travelers prioritize durability, whether in hard or durable soft materials, for their luggage during their journeys.

Market Research Overview

The global apparel, accessories, and luxury goods market encompasses businesses involved in the production and distribution of textiles, apparel, accessories, and luxury goods, as well as those offering rental services. This market, a segment of the larger parent industry, excludes footwear manufacturers. Factors driving market growth include the expanding working female population, leading to increased disposable income and higher consumer spending on textiles, apparel, accessories, and luxury goods. Innovations in luggage technology, such as 360-degree wheels, automated features, and battery-enabled luggage with Bluetooth connectivity, are also fueling growth. Companies are investing in acquisitions and partnerships to expand their product offerings, with some, like Australian manufacturer Strandbags, focusing on advanced materials like acrylonitrile-butadiene-styrene (ABS) and ballistic nylon for durability and security. The market is further bolstered by emerging trends, such as the popularity of athleisure wear, anti-theft luggage, and branded luggage, appealing to the baby boomer generation and tech-savvy consumers.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/