Dublin, Aug. 02, 2024 (GLOBE NEWSWIRE) -- The "Luggage - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Luggage is estimated at US$38.6 Billion in 2023 and is projected to reach US$61.7 Billion by 2030, growing at a CAGR of 6.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the luggage market is driven by several factors. Firstly, the increasing frequency of both leisure and business travel fuels demand for diverse types of luggage to suit different travel needs. As more people travel internationally, the need for durable, secure, and functional luggage becomes paramount. Technological advancements, such as smart luggage features, cater to the tech-savvy consumer looking for convenience and security. The trend towards sustainable products has also opened new market opportunities, with eco-conscious travelers seeking environmentally friendly options.
Additionally, the rise of experiential travel, where consumers prioritize unique and memorable travel experiences, drives demand for specialized luggage that can accommodate specific activities, such as hiking, skiing, or adventure travel. The influence of social media and the desire for personalized products further propel market growth, as consumers look for luggage that reflects their personal style and meets their specific needs. The luggage market, therefore, is expanding in response to these diverse and evolving consumer demands.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Suitcases / Travelling Bags segment, which is expected to reach US$31.4 Billion by 2030 with a CAGR of a 7.4%. The Casual / Regular Use Bags segment is also set to grow at 6.2% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $10.4 Billion in 2023, and China, forecasted to grow at an impressive 11.2% CAGR to reach $14.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Ace Co. Ltd., Antler Ltd., Bric's Industria Valigeria Fine SPA, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 394 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $38.6 Billion |
| Forecasted Market Value (USD) by 2030 | $61.7 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- Global Economic Update
- Luggage - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Popularity of Adventure Travel Expands Addressable Market Opportunity for Specialized Luggage
- Increasing Consumer Awareness of Travel Safety Generates Demand for Enhanced Luggage Security Features
- Consumer Preference for Minimalist Travel Throws the Spotlight on Compact and Multi-Functional Luggage
- Technological Advancements Propel Growth in Smart Luggage Market
- Sustainability Concerns Strengthen Business Case for Eco-Friendly Luggage
- E-Commerce Boom Spurs Growth in Direct-to-Consumer Luggage Sales
- Social Media Influences Accelerate Demand for Customizable and Personalized Luggage
- Innovations in Materials Enhance Durability and Lightweight Design of Luggage
- Increased Global Travel Propels Demand for High-Security and Anti-Theft Features
- Adoption of 3D Printing Technology Drives Customization and Rapid Prototyping in Luggage Manufacturing
- Rise of Urbanization and Changing Lifestyles Accelerate Demand for Stylish and Functional Luggage
- Innovative Packaging Solutions Propel Growth in Sustainable Luggage
- Expanding Middle-Class Populations Drive Adoption of Premium Luggage Brands
FOCUS ON SELECT PLAYERS(Total 283 Featured)
- Ace Co. Ltd.
- Antler Ltd.
- Bric's Industria Valigeria Fine SPA
- Delsey S.A
- Eagle Creek Inc.
- Etienne Aigner AG
- JanSport Inc.
- Kipling North America
- LVMH Moet Hennessy Louis Vuitton
- Nike Inc.
- Samsonite International S.A.
- Targus
- Travelpro Products Inc.
- Valigeria Roncato
- VF Corp.
- VIP Industries Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/84pbzp
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