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. Due to rising demand for high-quality luggage throughout the region and improving living standards, the product sales revenue in Asia-Pacific is predicted to increase at a CAGR of more than 9% during the forecast period. Additionally, the region's sales of such equipment will be fueled by the rising popularity of office and sports luggage as well as the booming education industry.
The demand for Global Luggage Market bags is expected to rise during the forecast period as a result of rising tourism activities and an increase in the number of business travelers. Due to the region's rapid urbanisation and rising interest in leisure activities, travel and tourism activities have dramatically increased.
