The global suitcase and briefcase products market was valued at USD 12.7 billion in 2021 and is projected to expand at a CAGR of 6.4% from 2022 to 2030. The increasing demand for fashionable and lightweight luggage is expected to drive the market growth. The rising popularity of e-commerce platforms is also projected to fuel the market growth during the forecast period.

The increasing demand for lightweight, stylish, and durable suitcases and briefcases is expected to drive the market. The rising trend of travel is fueling the demand for these products. Additionally, the increasing popularity of e-commerce platforms is further expected to boost the market growth. Furthermore, the increasing number of working professionals and the rising disposable income are also expected to propel the demand for suitcase and briefcase products.

Key players are launching innovative products to meet the growing demand of customers. For instance, in March 2021, Samsonite launched Samsonite Cosmolite 3.0, a collection of lightweight, stylish, and durable suitcases designed to meet the needs of today’s travelers. Additionally, in May 2021, Delsey launched its latest range of lightweight suitcases, crafted using eco-friendly materials and designed to meet the needs of the modern consumer.

Manufacturers are also launching suitcase and briefcase products with advanced features such as lockable zippers and TSA locks. For instance, in June 2021, American Tourister introduced its new range of lightweight and stylish lockable suitcases with TSA locks. The new range is designed to provide maximum security and convenience to travelers. Furthermore, the increasing demand for smart suitcases that are equipped with features such as GPS, Bluetooth connectivity, and remote-controlled locks is expected to propel the demand for the market in the coming years.

The rising popularity of personalization is also expected to drive the demand for these products. For instance, in May 2021, Briggs & Riley launched its new range of personalized suitcases that are available in various sizes, colors, and prints. Furthermore, the increasing demand for eco-friendly suitcase and briefcase products is expected to support the market growth in the coming years. The increasing awareness about the environment is prompting manufacturers to launch eco-friendly suitcase and briefcase products. For instance, in October 2021, Delsey launched eco-friendly suitcase and briefcases with a recyclable material.

The soft-case suitcases segment accounted for the largest share in the market in 2020, owing to its easy-to-carry nature, lightweight, and cost advantages. Furthermore, the availability of soft-case suitcases in a variety of sizes, materials, and colors has been driving the segment’s growth. According to an article published by Luggage Online, in March 2020, soft-side suitcases are a popular choice for most travelers, as they are lightweight and can be stored easily.

The briefcases segment is expected to exhibit the highest CAGR during the forecast period. The increasing use of briefcases in business-related activities and the introduction of new designs, such as briefcases with multiple pockets, are the major factors driving the segment’s growth. According to an article published by The Wall Street Journal, in November 2020, briefcases are now being used for a variety of purposes, including carrying laptops, documents, and other items. In addition, the rising trend of professionals carrying briefcases to work is also boosting the growth of the segment.

The departmental stores segment is estimated to hold a prominent market share of over 35.3% in 2022. Departmental stores are the major sources of these products, as they provide an extensive range of products of various sizes, designs, and materials. This range of products helps customers to select the most suitable product according to their preferences and budget. In addition, departmental stores provide a better shopping experience and assistance in making the right product selection. Increasing consumer preference for departmental stores as the primary source of purchase will drive the segment growth over the forecast period.

The e-commerce stores segment is expected to witness the highest CAGR of 8.3% during the forecast period. Rising internet penetration and digitalization of the economy are driving the growth of the e-commerce stores segment. Furthermore, the presence of numerous online stores, such as Amazon, Walmart, and Flipkart, is further assisting the growth of the segment. These online stores offer a wide range of products with competitive prices, making it easier for customers to compare prices and select the most suitable one for their requirement.

The hard-case segment accounted for the largest revenue share of 61.9% in the year 2022. The increase in safety and security concerns for travelers, coupled with the rise in demand for robust and durable suitcases and briefcases is driving the growth of the segment. Furthermore, the availability of a wide range of designs and sizes, such as trolley cases, carry-on bags, and others, make the hard-case segment dominant in the market.

The soft-case segment is anticipated to expand at the highest CAGR of 8.9% over the forecast period. The lightweight nature of soft-cases makes them more preferable among travelers, which is likely to drive the segment growth. The availability of a wide range of colors and prints are also expected to increase the demand for soft-case suitcases and briefcases. Furthermore, the increasing trend of using soft-case suitcases and briefcases as fashion accessories is propelling the market growth.

Europe is expected to account for the largest revenue share of the suitcase and briefcase products market in 2022. This can be attributed to the presence of a large number of premium fashion brands in the region, which are increasingly introducing fashionable and innovative products. For instance, in April 2021, the German brand Rimowa launched a new suitcase collection, which was inspired by the world of aviation. Moreover, the increasing number of travelers and business travelers in the region is likely to drive the demand for such products in the region.

Asia Pacific is expected to witness the fastest growth in the coming years. The increasing disposable income among consumers in the region, coupled with the rising adoption of luxury products, is expected to drive the growth in the region. Additionally, the increasing number of business travelers in the region is expected to create a positive outlook for the market. For instance, in April 2021, Chinese brand, Kila, launched a new collection of stylish briefcases for business travelers.

In this part of the suitcase and briefcase products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a suitcase and briefcase products business comes from the sale of the products, as well as any other related services such as repairs and maintenance. Other possible sources of profit include marketing and advertising efforts, corporate sales, and online sales.

Projecting Expenses
In this section, all the regular expenses related to keeping the suitcase and briefcase products business running will be described. The list of operating expenses includes raw materials, rent, wages, utilities, insurance, advertising, and others. Additionally, the business will need to factor in the cost of packaging and shipping, as well as any fees associated with online sales.

Some of the key companies operating in the suitcase and briefcase market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Samsonite launched the Cosmolite collection of lightweight, durable suitcases.

– In August 2022, Herschel Supply Co. launched the Hestia Collection, which includes briefcases and laptop bags.

– In October 2022, Delsey launched the Helium Collection, a line of lightweight and durable suitcases.

Some of the prominent players in the suitcase and briefcase market include:

– Samsonite International S.A.
– American Tourister
– Delsey
– Ricardo Beverly Hills
– Rimowa GmbH
– High Sierra
– Travelpro Products, Inc.
– Kenneth Cole Productions, Inc.
– Victorinox Swiss Army
– Herschel Supply Co.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global suitcase and briefcase products market based on product type, material, end-use, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Briefcases
– Suitcases
– Luggage

2. Material Outlook (Revenue, USD Million, 2017 – 2030)

– Leather
– Polyester
– Nylon
– Canvas

3. End-Use Outlook (Revenue, USD Million, 2017 – 2030)

– Business
– Leisure

4. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

5. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the key drivers of the suitcases and briefcases market?
[A]: Key drivers of the suitcases and briefcases market include increasing disposable income, the growing demand for fashionable and lightweight suitcases and briefcases, and the increased preference for online shopping. Furthermore, the shift in consumer preference towards eco-friendly, stylish, and compact designs, and the growing demand for eco-friendly materials are major factors driving the growth of the market.

[Q]: What are the major trends in the suitcases and briefcases market?
[A]: The suitcases and briefcases market is witnessing the emergence of various trends such as the increasing demand for personalized suitcases and briefcases, growth in the popularity of online retailing, and increasing preference for lightweight suitcases and briefcases. Furthermore, the growing popularity of RFID-enabled suitcases and briefcases, and the increasing demand for eco-friendly and sustainable materials are some of the major trends witnessed in the market.

[Q]: What are the key challenges faced by the suitcases and briefcases market?
[A]: Key challenges faced by the suitcases and briefcases market include the availability of low-cost counterfeit products, the need for high capital investments, and the difficulty in maintaining the quality of goods. Furthermore, the lack of awareness about environmental impact of suitcase and briefcase manufacturing, and the difficulty in identifying new market opportunities are some of the major challenges faced by the market.

[Q]: Who are the key players in the suitcases and briefcases market?
[A]: Major players operating in the suitcases and briefcases market include Samsonite International SA, VF Corporation, Briggs & Riley Travelware, Inc., Eagle Creek, Inc., Victorinox AG, VIP Industries Ltd., G-RO Travel Technology, LLC, Rimova Ltd., Travelpro International Inc., and Delsey SA.

[Q]: What are the potential opportunities in the suitcases and briefcases market?
[A]: Potential opportunities in the suitcases and briefcases market include the development of innovative designs, the introduction of smart and RFID enabled suitcases and briefcases, and the focus on eco-friendly materials. Furthermore, there is a growing trend towards customization of suitcases and briefcases, and increasing demand for lightweight products, which are creating potential opportunities for the market.