Research Reports
Luggage Market Is Potentially Boosting Up The Economy In Future 2027
Published by Coherent Market Insights
Posted on September 27, 2021
4 min readLast updated: February 2, 2026
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Published by Coherent Market Insights
Posted on September 27, 2021
4 min readLast updated: February 2, 2026
The global luggage market is expected to grow significantly by 2027, driven by smart luggage innovations and increased travel demand.
The global luggage market was valued at US$ 22,467.2 Mn in 2018 and is projected to increase to US$ 38,513.8 Mn by 2027, witnessing a CAGR of 6.3% over the forecast period.
Luggage mainly includes travel bags, business cases, and other casual bags. Luggage is a very important consumer good across the globe with numerous organized (global) and unorganized (local) manufacturers manufacturing different types of luggage for various travel and business needs.
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In emerging economies of Asia Pacific region, the unorganized luggage market players are posing several challenges for major players in the organized sector. The manufacturing cost of luggage is lower, owing to easy availability of raw materials such as plastics, leather, and others. Furthermore, local luggage manufacturers from the unorganized sector usually offer their products at a lower price, as they save on several additional costs, such as research and development, advertising, branding, and costs for procuring high quality raw materials.
Increasing innovations in the market is expected to boost demand for luggage over the forecast period. These innovations are expected to create growth opportunity for manufacturers by attracting larger customer base. For instance, in August 2019, Samsonite collaborated with Panasonic for creating EVOA Tech, a new generation of smart luggage. The luggage will be able to effectively communicate with the owner with the help of IoT. Furthermore, the smart luggage will also include a Bluetooth tracker, biometric locking system, a USB port, and an inbuilt weighing scale. Another security feature of this bag is the SOS alert button, which sends an alert to 3 contacts with the current GPS location. These features are expected to increase demand for such luggage from the premium sector and thereby, boost growth of the global luggage market.
Key players operating in the market include Tapestry Inc., Rimowa GmbH, Louis Vuitton Malletier, S.A., Victorinox Swiss Army, Inc., Samsonite International S.A, Coach Inc, VF Corporation, Antler Limited, Delsey S.A., Bric’s Industria Valigeria Fine SpA, Etienne Aigner AG, and VIP Industries Limited.
Few Recent Developments
RIMOVA GmbH
VICTORINOX AG
Luggage is an important part of travel-related consumer goods market. Different types of luggage are available in the market for travel, business and casual use. The global luggage market is mainly driven by growing travel & tourism industry. Increasing demand for smart luggage is projected to result in rising demand for luggage, globally. Growth of the luggage market is driven by integration of innovative features in smart luggage such as connectivity, tracking sensors, proximity sensors, digital scaling, remote lock, self-driving wheels, inbuilt portable battery, and removable batteries. For instance, in July 2018, Ovis, a smart luggage manufacturer, launched AI-powered smart travel luggage with self-driving wheels.
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Market Dynamics
The wholesale and specialty stores segment is expected to account for the largest share of 66.2% in 2019. Specialty stores usually offer variety of products under a specific category, which helps them in building brand identity. This also helps in ensuring that the customers are loyal towards a particular brand.
Many luggage manufacturers are integrating smart features into their existing luggage offerings. In August 2019, Samsonite International entered into a partnership with Panasonic Corporation, to develop a new generation of travel suitcase for hassle-free travel. Under the partnership, Samsonite launched its new suitcase EVOA Tech which features Panasonic’s Seekit Bluetooth tracker that will allow customers to tag and track their luggage.
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The post Luggage Market Is Potentially Boosting Up The Economy In Future 2027 appeared first on Gatorledger.
The article discusses the projected growth of the global luggage market by 2027, focusing on innovations and market dynamics.
Innovations like IoT integration, biometric locks, and smart features are driving demand for premium luggage.
Key players include Samsonite, Louis Vuitton, Rimowa, Victorinox, and others.
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