It is attributed to the changing consumer lifestyles, rising travel tourism industry, and surging disposable income in developing countries. 

In addition, rapid urbanization, with rising consumer preference for luxury bags with advanced technologies, including high-security locks, GPS trackers, expandable capacity, and sturdy wheels is projected to propel the demand for the product in the coming years.

Moreover, the rising education opportunities with growing participation in adventure and outdoor sports, including government support for leather accessories are projected to boost the advancement of the industry in the near future.
 
Furthermore, the growing branded luggage preference among consumers, surging expenditure on luxury and smart products, and growing popularity of backpacks, shoulder bags, and wheeled duffel bags are projected to fuel the industry's growth in the near future. 

Currently, stylish office bags and casual bags are trending worldwide. 

Browse detailed - Luggage Market Revenue Estimation and Growth Forecast Report

Under the distribution channel, supermarkets hypermarkets dominate the industry, accounting for 40% revenue share of the industry. The rising hypermarket chains, including a growing focus on marketing and promotional activities, such as lucrative discount products, are projected to boost industry growth in the near future. 

The online category is predicted to experience the highest growth in the coming years. The convenience offered in online buying results in a massive shift in the purchasing behavior of bags for sightseeing and other purposes on e-commerce platforms. 

Moreover, the improving living standards, combined with the worldwide surging disposable income, are projected to fuel the growth of online stores.