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.
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.
Bags and luggage market value forecast worldwide from 2019 to 2025 (in billion U.S. dollars)**
**Bags and luggage, as defined by Euromonitor, includes handbags, backpacks,
business bags, crossbody bags, duffel bags and cases which serve common
everyday purposes or specific functions during travel, sports or formal occasions.
Sports equipment bags, such as golf, tennis and bowling, insulated food and
beverage bags and musical instrument cases are excluded.
*For the Statista estimate an exponential development of the values between 2021 and 2025 was assumed to estimate the annual values.
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Samsonite. (April 15, 2021). Bags and luggage market value forecast worldwide from 2019 to 2025 (in billion U.S. dollars)** [Graph]. In Statista. Retrieved August 16, 2022, from https://www.statista.com/statistics/1236054/bags-luggage-market-value-forecast/
Samsonite. "Bags and luggage market value forecast worldwide from 2019 to 2025 (in billion U.S. dollars)**." Chart. April 15, 2021. Statista. Accessed August 16, 2022. https://www.statista.com/statistics/1236054/bags-luggage-market-value-forecast/
Samsonite. (2021). Bags and luggage market value forecast worldwide from 2019 to 2025 (in billion U.S. dollars)**. Statista. Statista Inc.. Accessed: August 16, 2022. https://www.statista.com/statistics/1236054/bags-luggage-market-value-forecast/
Samsonite. "Bags and Luggage Market Value Forecast Worldwide from 2019 to 2025 (in Billion U.S. Dollars)**." Statista, Statista Inc., 15 Apr 2021, https://www.statista.com/statistics/1236054/bags-luggage-market-value-forecast/
Samsonite, Bags and luggage market value forecast worldwide from 2019 to 2025 (in billion U.S. dollars)** Statista, https://www.statista.com/statistics/1236054/bags-luggage-market-value-forecast/ (last visited August 16, 2022)