CAGR of the luggage market's retail sales worldwide 2019 to 2024, by region

This statistic depicts the compound annual growth rate of the luggage market's retail sales worldwide between 2019 and 2024, by region. During that period, the compound annual growth rate of North American luggage retail market was estimated at 0.4 percent.

Global Luggage Market

Traveling has increased to a great extent with the rise in urbanization and leisure activities. People are becoming more inclined toward branded and fashionable travel accessories including luggage. The present day meaning of luggage has evolved from a traditional clothes packing medium into a more comfortable, convenient and multi-purposeful travel-companion. Luggage has now become a part of travel apparel which defines personality of the traveler. Nowadays, apart from clothes, luggage bags include shoes, laptops, cameras as well as other related electronic accessories, food items, water bottles, and business files.

The global luggage market was estimated to generate sales close to 21 billion U.S. dollars in 2018. The travel bag segment was responsible for around 44 percent of luggage retail sales as of 2016. The rising global economy and increasing per capita income are some of the key drivers of the global luggage market. The luggage market can be segmented into three major categories, namely casual bag, travel bag, and business bag. These categories can be further fragmented into backpacks, computer bags, wheel bags, business carry-on tool bags, and sports bags. The casual bag segment, which includes backpacks and wheel bags, is the fastest-growing segment.

Samsonite is one the world's largest travel goods players. In 2019, the total revenue of Samsonite was around 3.64 billion U.S. dollars; with 36 percent of its net sales being generated by its Asian region. The top four players of the industry are ACE, Samsonite, Tumi, and VF Corp. although there are several emerging players in developing countries, who operate at the local level.

Compound annual growth rate of the luggage market's retail sales worldwide between 2019 and 2024, by region*

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Sources

Release date

April 2020

Region

Worldwide

Survey time period

2019

Supplementary notes

* For the Statista estimate the CAGR was calculated from the values for 2019 and 2024 that were provided by the source .

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Statistics on "Luggage market worldwide"

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