Global bags and luggage market to grow 2.15% CAGR through 2032, driven by travel and lifestyle trends.

The global bags and luggage market is projected to grow at a CAGR of 2.15% from 2026 to 2032, reaching about USD 183 billion by 2032. Growth is fueled by rising global travel, urbanization, and consumer demand for functional and fashionable bags. Asia-Pacific leads with 40% of the market, supported by expanding middle-class populations and travel activities. Key players like Samsonite and Tapestry are focusing on leadership and innovation to capture premium segments amid intense competition and raw material cost challenges.