Luggage Market 2024-2028: Size and Increasing restrictions on smart luggage by airlines for security purposes; growth driven by the Distribution Channel, Some of key Companies Positioned Strategically

The luggage market size by Distribution Channel (Specialty stores, Department stores hypermarkets and supermarkets, Online retail, and Warehouse clubs), Product (Travel luggage, Casual luggage, Business luggage, and Sports luggage), and Geography (APAC, North America, Europe, South America, and Middle East and Africa), is forecast to increase by USD 14617.3 million. The market is expected to grow at a CAGR of   8.09% between 2024 and 2028.

• The smart luggage market has witnessed significant growth over the last few years, driven by technological advancements. These innovative bags offer travelers the convenience of charging their devices, tracking their luggage, and other smart features. However, the International Air Transport Association (IATA) is set to establish new industry guidelines for all types of smart luggage. This decision stems from safety concerns raised by major US carriers, such as American Airlines, Delta Air Lines, and Alaska Airlines, who have imposed check-in restrictions on smart luggage, particularly those with non-removable batteries, due to potential fire hazard risks on board.
• The luggage market represents a significant business sector, characterized by continuous growth and innovation. Market trends indicate a rising demand for lightweight, durable, and technologically advanced luggage solutions. Consumers prioritize convenience and security features, driving manufacturers to integrate smart technology and design ergonomic, multi-functional products. The market is further fueled by increasing travel frequencies and globalization, making it an attractive investment opportunity for businesses.

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Some of the Key Companies:

• Adidas AG
• Brics Industria Valigeria Fine Spa
• DELSEY
• Fox Luggage Inc.
• Groupe Artemis
• LVMH Moet Hennessy Louis Vuitton SE
• MCM Products USA Inc.
• Nike Inc.
• Safari Industries India Ltd.
• Samsonite International S.A.
• Strandbags Group Pty Ltd.
• Tapestry Inc.
• Under Armour Inc.
• United States Luggage Co. LLC
• Valigeria Roncato Spa
• VF Corp.
• Victorinox AG
• VIP Industries Ltd.
• Wildcraft India Pvt. Ltd.
• Yonex Co. Ltd.

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Jesse Maida
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Email: media@technavio.com
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