How big is the Bag Industry Market | Full Report & Forecast Data

Q: What is the size of the Bag Industry Market?

The Bag Industry market was valued at approximately USD 58.6 billion in 2024 and is projected to surpass a valuation of USD 74.3 billion by 2031.

Q: What is the growth rate of the Bag Industry Market?

The Bag Industry market is growing at a CAGR of around 3.5%.

Q: What factors drive the overall growth of the Bag Industry market?

Lifestyle shifts, travel growth, and e-commerce are some of the major factors that are driving the growth of this market.

Q: What are the major challenges in the Bag Industry market?

Some of the challenges that may hinder the Bag Industry Market growth are counterfeiting and price pressure in unbranded segments.

Q: Which regions are expected to lead in market share?

Asia-Pacific leads in volume and growth rate.

Q: What is the impact of AI in the Bag Industry market?

Rise of sustainable and tech-integrated bags are supporting the Bag Industry Market growth.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA4699

Publication Date: Jul 2025

How big is the Bag Industry Market?

According to 6Wresearch internal database and industry insights, the Bag Industry market was valued at approximately USD 58.6 billion in 2024 and is projected to surpass a valuation of USD 74.3 billion by 2031 at a CAGR of 3.5%.

This growth is attributed to rising demand across fashion, travel, education, and business segments, coupled with increasing global travel and evolving lifestyle preferences. The industry benefits from a wide range of use-cases—from luxury handbags to school and eco-friendly utility bags.

Key Growth Factors in the Bag Industry market

Growing fashion consciousness among youth and professionals
Increase in travel and tourism post-pandemic recovery
Expansion of e-commerce driving direct-to-consumer bag brands
Demand for ergonomic school and laptop bags
Rise of eco-conscious consumers preferring sustainable materials
Growth in promotional and custom-branded bag markets

Bag Industry Market Trends

The bag industry is expected to witness strong innovation and brand diversification. Fashion and utility segments are receiving consumer traction with smart bags, modular backpack systems and anti-thift designs. There is a growing preference for multi-functional bags that meet the needs of work, travel and gym. Asia-Pacific, especially China and India, dominate the increase in volume, while Europe and North America focus on premium and top regions. Growing social media effects and effective-oriented marketing are shaping brand positioning in both large-scale and luxury regions.

Emerging developments in the Bag Industry Market

The market is set to witness rapid shift towards biodegradable and recycled materials, especially in the production of tote bags, shopping bags and casual daypacks. Smart compartments are rapidly popular with RFID-enabled travel bags, solar-operated backpacks, and USB port and tracker integration. High-ended players are incorporating AI-competent privatization tools for monograming and Bispoke designs. In parallel, low -cost manufacturers are embracing automation in stitching and patterns, improving scalability and strength. An increased ecosystem of rental and resale platforms also re -shapes owned models, especially in the premium handbag category.