Global bags and luggage market value from 2019 until 2025

In 2020, bags and luggage market was valued at approximately 122.8 billion U.S. dollars worldwide decreasing from 153.6 billion U.S. dollars in the previous year.

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, with the first accounting for almost half of the global luggage market. Disposable income amongst consumers and the growing economy are the main factors which fuels leisure travel and thus, luggage purchases. While the coronavirus (COVID-19) pandemic significantly slowed the growth of the luggage market, it is expected to grow alongside the global travel and tourism market.

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 2020, nearly half of Samsonite’s net sales were attributed to travel-related products. North America was the leading region of Samsonite sales, followed closely by China.