According to Statista’s forecast, by 2023, the luggage business will generate revenues of $177 billion. The market is expected to grow by 5.07% per year (CAGR from 2023 to 2026). Globally, the majority of luggage business revenues come from the United States ($28.73 billion in 2023). By 2023, 67% of sales in the luggage and bag sector will come from non-luxury products. The popular small bags in Europe and the United States are mainly multifunctional and multi-purpose, and the materials are preferably waterproof and durable.
The design of the bag type is diverse and colorful. Travel bags need to have a sturdy design, beautiful finishes, durable structure and high performance, especially travel bags that can be carried on airplanes, so the size of bags that can be carried on airplanes in Europe and the United States is very clear. There are many entry points for luggage, such as easy to carry, wheels, stylish and beautiful, cost-effective, and durable.
Hot-selling products: waist bags, travel bags, cosmetic bags, computer backpacks, wash bags, luggage bags, umbrella bags.
Hot-selling areas: the United States and Europe.
Supply chain industry belt: Guangzhou, Shenzhen, Zhejiang, Baigou Town, Hebei, and Nantai Town, Liaoning.
Price range: 15~150 US dollars.