Luggage Industry Projected to Expand to a Value of 81.5 Billion USD by 2033

The global luggage market is experiencing a transformation, with several key trends shaping the industry.

Amidst rising costs of essential materials like polycarbonate and aluminum, the market remains highly competitive. Brands are vying for market share, with numerous players, including Swiss-based Pack Easy and fashion conglomerates such as Hermès International, LVMH, Kering, and Prada, making their presence felt.

Consumer preferences are evolving, with a growing interest in innovative features like GPS tracking, built-in scales, and USB charging. Soft-sided luggage dominates the market, accounting for 61.8% of sales in 2023, and carry-on spinner suitcases lead the pack with 60% of total sales. Interestingly, 52% of passengers prefer carry-on baggage for air travel.

The market is also witnessing a shift towards eco-friendliness. Growing environmental awareness has led to a demand for luggage made from recycled or biodegradable materials, providing an opportunity for brands that prioritise sustainability.

The COVID-19 pandemic has caused substantial disruptions in manufacturing and distribution networks, but the market is showing signs of recovery. In 2024, the U.S. luggage market is projected to generate $29.57 billion in revenue, and North America led the market in 2023 with a 35.5% share.

Offline distribution channels continue to capture a significant portion of the market, accounting for 66.2% of sales in 2023. However, the rise of online shopping offers luggage brands a direct channel to reach customers, contributing to the market's growth.

Notably, Yatra Online, Inc. strengthened its leadership in corporate travel services by acquiring Globe All India Services Limited in 2024. Meanwhile, SITA expanded into the operations-as-a-service market by acquiring ASISTIM, underscoring its mission to help airlines navigate operational challenges.

Looking ahead, the Global Luggage Market is projected to grow significantly, with its value estimated to reach approximately USD 81.5 billion by 2033. The compound annual growth rate (CAGR) of the Luggage Market is 7.7% during the forecast period of 2024 to 2033.

One interesting statistic to note is that 73.5% of travelers prefer zipper locks for their luggage, and travel bags accounted for 44.2% of the market share in 2023.

In summary, the global luggage market is witnessing a shift towards eco-friendliness, innovation, and online sales, with brands adapting to these trends to stay competitive. Despite challenges posed by the pandemic and rising material costs, the market is projected to grow significantly in the coming years.