Luggage Industry Statistics

In this post, we explore the latest statistics and trends shaping the global luggage industry. From market values and growth projections to regional dominance and emerging segments, these key insights shed light on the dynamic landscape of the luggage market. Join us as we delve deeper into the numbers driving this ever-evolving industry.

Statistic 1

"The global luggage market was valued at USD 22.11 billion in 2020."

Statistic 2

"The luggage market is predicted to grow at a CAGR of 5.5% from 2021 to 2028."

Statistic 3

"The travel bags segment accounted for the largest share of the luggage market at 54.6% in 2020."

Statistic 4

"Asia Pacific dominated the luggage industry with 33.6% share in 2020."

Statistic 5

"The business bags segment is projected to exhibit the fastest CAGR of 5.9% from 2021 to 2028 in the luggage market."

Statistic 6

"The online segment of the luggage industry grew at a CAGR of 16.4% between 2013 and 2018."

Statistic 7

"The global luggage market is expected to reach $79.5 billion by 2024."

Statistic 8

"By 2028, North America is predicted to hold a market share of around 26% in the worldwide luggage market."

Statistic 9

"Approximately 36% of the global luggage market is made up of the casual bag segment."

Statistic 10

"Nearly 47% of the bags and luggage market is catered to by premium brands."

Statistic 11

"Smart luggage market is expected to grow at a CAGR of 16.15% during the period 2020-2025."

Statistic 12

"In 2020, around 578.8k tons of luggage were manufactured in China."

Statistic 13

"The luggage retail sales in the United States reached approximately 3.5 billion U.S. dollars in 2019."

Statistic 14

"The travel bag industry is expected to reach revenues of more than $27 billion by 2023, growing at a CAGR of approximately 6% during 2017-2023."

Statistic 15

"The RFID (Radio Frequency Identification) luggage tag market is set to record a CAGR of 13.9% over 2021-2028."

Statistic 16

"By 2025, the global luggage accessories market is projected to reach $3.7 billion."

The statistics presented paint a clear picture of the global luggage industry’s current landscape and future prospects. With a substantial market value in 2020 and a predicted steady growth rate, particularly in segments like travel bags and business bags, the industry is poised for significant expansion. Asia Pacific stands out as a dominant player, with key trends such as the rapid growth of online sales and the emergence of smart luggage further shaping the market. With North America expected to gain market share by 2028 and innovative technologies like RFID tags driving growth, the industry shows promising opportunities for both established brands and emerging players to tap into the evolving consumer needs and preferences.