According to the research report titled ‘Global Luggage Market (2021 Edition) - Analysis by Product Type (Travel Bags, Casual Bags, Business Bags), Price Segment, Distribution Channel, By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global luggage market was valued at USD 45 Billion in the year 2020 and is projected to obtain significant gains during the forecast timespan 2021-2027.
 

Rising disposable income and increasing domestic & international travel are mainly driving the global luggage market growth. Moreover, technological advancements in electronics, and growing penetration of luggage in the premium industry are likely to propel the market expansion further.
 

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Another major defining the growth trajectory of the market is the strong presence of OEMs and ODMs across industries which are catering to mid-level as well as premium price segments, especially in APAC region.
 

Talking about the impact of COVID-19 impact, the industry witnessed a setback as the pandemic significantly hampered brick and mortar sales. On the other hand, it accelerated digitization, shifting customer preferences towards e-commerce.
 

As a result, businesses are increasingly attempting to sell their products online through various e-commerce platforms such as Amazon, eBay, Flipkart, and others, thereby boosting the share of Internet sales.
 

Based on price segment, global luggage industry is split into value & mid-level, premium, and luxury. Among these, rising demand for various types of baggage in the premium pricing sector is expected to boost market sales in the future.
 

In terms of product type, the market is categorized into travel bags, casual bags, and business bags. Travel bags segment is slated to record strong gains in the coming years owing to the significant need of travel bags during travel.  
 

Whereas, from a regional perspective, worldwide luggage market size is fragmented into across North America (U.S., Canada), Europe (UK, Germany, France, Italy), and Asia Pacific (Japan, China, India).
 

Considering the competitive landscape, companies such as ACE Luggage Co. Ltd., Goyard SA, Fox Luggage Inc., Tumi Holdings Inc., Delsey SA, Briggs and Riley Travelware, Remowa, VIP Industries, VF Corp., and Samsonite International SA., are the major contenders in the industry.