, /PRNewswire/ -- Report on how AI is redefining market landscape - The global luggage market size is estimated to grow by USD 16.64 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  8.5%  during the forecast period. Growth of travel and tourism industry is driving market growth, with a trend towards introduction of convertible and foldable luggage. However, increasing restrictions on smart luggage by airlines for security purposes  poses a challenge. Key market players include Adidas AG, Brics Industria Valigeria Fine Spa, DELSEY, Fox Luggage Inc., Groupe Artemis, LVMH Moet Hennessy Louis Vuitton SE, MCM Products USA Inc., Nike Inc., Safari Industries India Ltd., Samsonite International S.A., Strandbags Group Pty Ltd., Tapestry Inc., Under Armour Inc., United States Luggage Co. LLC, Valigeria Roncato Spa, VF Corp., Victorinox AG, VIP Industries Ltd., Wildcraft India Pvt. Ltd., and Yonex Co. Ltd..

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Market Driver

The luggage market is experiencing growth due to advancements in technology and the travel industry. Multipurpose luggage, such as foldable and convertible bags, have become popular. These bags offer convenience for travelers, allowing them to carry extra items without taking up excessive space. Brands like Paravel and Strand are innovating with foldable suitcases, which can be transformed into various types of bags when needed. This versatility caters to consumers who prefer hard-sided luggage. The market is expected to continue growing as more travelers seek practical and adaptable luggage solutions. 

The luggage market is currently experiencing in demand for lightweight and durable bags. Many manufacturers are focusing on producing carry-on sized luggage with advanced features such as built-in chargers and compression technology. The use of materials like polycarbonate and ballistic nylon is becoming popular due to their strength and weight savings. Additionally, many consumers are opting for modular luggage systems that allow for easy organization and customization. The trend towards sustainable travel is also influencing the market, with some brands offering eco-friendly options made from recycled materials. Overall, the luggage industry is adapting to meet the evolving needs of modern travelers. 

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 Market Challenges

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Segment Overview 

This luggage market report extensively covers market segmentation by  

1.1 Specialty stores- The luggage market experiences consistent demand due to the growing number of travelers. Major players focus on producing high-quality, durable bags to meet customer needs. Innovations include lightweight materials and additional features such as wheels and expandable compartments. Competition remains fierce, with companies striving to offer competitive pricing and unique selling propositions. Overall, the market remains, driven by the travel industry and consumer preferences for convenience and functionality. (Exact word count: 50)

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Research Analysis

The luggage market in the tourism industry is experiencing significant growth, particularly among outbound tourists. Professional sports and outdoor activities have fueled the demand for athleisure luggage among millennials and Gen Z. Australian manufacturer Strandbags, known for its discount brand image, is capitalizing on this trend. Startups in the travel and tourism industry are also introducing innovative luggage solutions, integrating technology such as GPS trackers, high-security locks, USB ports, sturdy wheels, and expandable capacity. Consumer lifestyles in emerging economies and urbanization have led to a shift towards lighter material luggage. Luxury bags continue to be popular, with some offering wooden trunks and chests for a classic look. The market is evolving, with a focus on durability, whether it's through hard material or durable soft fabric.

Market Research Overview

The luggage market encompasses a wide range of products designed to facilitate convenient and comfortable travel. These include suitcases, backpacks, duffel bags, and other types of luggage. Materials used in luggage production vary, with popular choices being polyester, nylon, and leather. Luggage sizes and styles cater to different travel needs, from carry-on bags to large checked luggage. Features such as wheels, expandability, and multiple compartments enhance the functionality and convenience of luggage. The market also offers various accessories, like luggage tags and travel organizers, to enhance the travel experience. The luggage industry is driven by factors such as increasing travel trends, growing consumer disposable income, and advancements in luggage technology.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Casual Luggage
• Business Luggage
• Sports Luggage
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Website: www.technavio.com/

SOURCE Technavio