Suitcase And Briefcase Market Strengthened by Evolving Consumer Travel Preferences
The global suitcase and briefcase market was valued at USD 30.0 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 5.7% from 2022 to 2028. Market expansion is driven by the rapid growth of travel and tourism, increasing urbanization, evolving lifestyles, and rising consumer purchasing power. The availability of these products in diverse shapes, sizes, colors, and designs appeals to a broad consumer base, further fueling market growth. Additionally, suitcases and briefcases are often perceived as fashion-forward items and symbols of status, contributing to the rising demand for premium offerings.
Briefcases remain highly favored in the business sector due to their essential role in carrying important documents, money, and valuables. Demand is increasing among business professionals who value stylish and practical solutions for transporting documents and laptops. Similarly, the growing popularity of sports and the increasing use of suitcases by athletes are further driving growth in the suitcase segment.
Travelers are increasingly opting for multipurpose luggage solutions, boosting demand for foldable and convertible luggage carriers. Suitcases with spinner wheels have gained popularity globally due to their ease of maneuverability. Moreover, continuous innovation and the launch of advanced products by manufacturers are key factors propelling market growth.
By Product Type Insights
Travel cases dominated the global market in 2021, holding over 80% of the total share, and are expected to maintain this leading position throughout the forecast period. The surge in global travel and tourism is a major contributor to the increased demand for suitcases. Additionally, partnerships with leading athletes as brand ambassadors are helping manufacturers boost segment growth.
By Distribution Channel Insights
Offline channels accounted for more than 75% of the market share in 2021 and are expected to grow steadily over the forecast period. The expansion of dedicated retail outlets by leading brands is driving growth in this segment. Rapid urbanization, the proliferation of branded retail stores, and consumers’ preference for traditional in-store purchasing continue to support offline sales of suitcases and briefcases.
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Regional Insights
The Asia Pacific region held the largest market share in 2021, accounting for over 35%, and is projected to grow at a robust pace during the forecast period. The increase in outbound travelers from countries like China and India is a key growth driver. For instance, in 2019, China recorded 169 million outbound travelers, while India had 50 million. Rising domestic tourism, growing disposable incomes, and higher spending on travel luggage are also fueling regional market growth.
Key Companies & Market Share Insights
The global suitcase and briefcase industry is highly fragmented, comprising numerous international and regional players. To strengthen their market presence, manufacturers are adopting strategies such as expanding distribution networks, enhancing supply chains, and pursuing mergers and acquisitions. Investments in advertising, promotional campaigns, and social media marketing are also increasing as companies seek to broaden their global footprint.
For example, LVMH and Virgil Abloh announced a definitive agreement in which LVMH acquired a majority stake in Off-White LLC. Under this deal, Mr. Abloh retains a 40% ownership stake and continues as the brand’s creative director, while LVMH holds a 60% interest in the trademark. Such strategic initiatives are expected to drive greater product adoption worldwide.
Key players operating in the global suitcase and briefcase market include:
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Ace Co. Ltd.
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Antler Ltd.
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Bric’s Industria Valigeria Fine SPA
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Delsey S.A.
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Luggage America Inc.
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LVMH Moët Hennessy Louis Vuitton
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Nike, Inc.
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Samsonite International S.A.
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V.F. Corporation
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Valigeria Roncato
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VIP Industries Ltd.
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Briggs & Riley Travelware
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