The global luggage market Growth Accelerated by Increased Domestic and International Travel
The luggage market consists of various bags such as duffel bags, travel bags, suitcases, and other bags that are used to carry clothing, toiletries, and other personal items during travel. Luggage provides easy portability and storage of essential travel items and comes in various designs, sizes, and materials to suit different travel needs. The increasing domestic and international travel is fueling the demand for high-quality, durable, and stylish luggage options among customers. The global luggage market is estimated to be valued at US$ 102.83 billion in 2024 and is expected to exhibit a CAGR of 9.7% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key trends driving the growth of the luggage market is the rising domestic and international travel. According to the World Travel & Tourism Council, the global travel & tourism sector contributed US$ 9.6 trillion to the global GDP in 2022...