The Europe luggage market is expected to add over USD 4.5 billion from 2024 to 2029, fueled by higher disposable incomes and an increase in business travel.
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The Europe region ranks second after Asia and are among the leading markets for luggage and leather accessories and goods in the world. The best performing sectors were handbags, laptop cases and small suitcases. A large group of EU consumers likes to keep up with the latest trends in fashion. In addition, an increasing variety in the design of luggage and accessories and an increasing use of new non-leather materials (nylon, fiber, and textiles) has given a strong stimulus to this mature market. Furthermore, lower prices and increased supply through non-specialist channels have exposed a larger group of consumers to this market sector, resulting in increased sales. Higher disposable incomes from women looking for accessories that go well with their total outfit, increased business and short breaks stimulating demand for luggage, new markets for men, teens & older people, new technologically-driven products stimulating small accessories sales are some of the driving factors for Europe luggage market. Europe is the leading importer of luggage/ accessories in the world, importing more than a third of total world imports. The UK and France were largest importing countries in 2021. Based on the price range, the market is segmented into three parts including low-range, medium range and premium range. People on lower incomes prefer low priced products in nylon or fibre which can be used over a long period of time; they choose items which are functional and durable rather than fashionable. People on average income tend to prefer functional items, especially luggage whereas people on higher income prefer accessories responding to latest fashion and brands. There are a number of broad lifestyle trends that affect buying behaviour, other are short-term or product-specific trends that are usual seasonal in nature. In addition to that, care and concern for the environment are increasing. Hence, the materials used in manufacturing and packaging, the social conditions under which a product is made are rising in importance. On the other hand, as the middle class is growing in all countries, demand of luxury and branded imported goods is set to grow across the European region.
According to the research report, "Europe Luggage Market Outlook, 2029," published by Bonafide Research, the Europe luggage market is projected to add more than USD 4.5 Billion from 2024 to 2029. Higher disposable incomes, increased business travel short weekend trips with low cost airline, and new markets for men, teens and older people, increased influence of fashion. Changes in technology and others are the factors responsible for stimulating demand in this market. Europe has traditionally been regarded as an important supplier of high quality luggage and leather accessories and goods to the world market. The trade channels for luggage and leather accessories are characterized by an enormous diversity, with the following differences per product group: For luggage (suitcases and briefcases), the specialist channels remain important. For bags and leather accessories there is a wide distribution network, which includes sales by clothing shops, footwear, perfumeries, sports shops and service companies. For all product groups, department stores take up a large proportion of retail sales. Additionally, non-specialist channels have become important, as is the influence of large chain operators. Importers/wholesalers or manufacturers would be the best starting point, as physical distribution of luggage is a constraint and changes in fashion occur more quickly in Europe. The European luggage market follows the general apparel trends related to sustainability, technological innovation, and increased emphasis on corporate and social responsibility. In Europe, the primary markets for travel and business bags are Germany, France, and the United Kingdom. The market in this region will increase at a quicker rate than the industry in North America. The availability of a broad variety of designs in the travel and business bags market, as well as related accessories, will aid the expansion of the travel and business bags market in Europe.
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