In 2018, the global travel bag market was valued at USD 26.58 billion and was expected to grow at a CAGR of 5.7%. The increasing number of leisure travelers and the growing popularity of adventure sports are some of the key factors driving the growth of the travel bag market.
There is a wide range of travel bags available in the market, such as duffle bags, backpacks, trolley bags, and others. Duffle bags are expected to witness the highest growth during the forecast period owing to their ease of carrying and spaciousness.The Asia-Pacific region is expected to be the fastest-growing market for travel bags during the forecast period due to the increasing number of domestic and international tourists in countries such as China, India, and Japan.
The travel bag is a type that travelers, tourists, and trekkers use to transport their clothing and other personal belongings. The most popular types of travel bags are duffel bags, wheeled backpacks and rolling luggage. Weekenders, totes, and bags are also available. The hard-side variants are manufactured using materials such as polypropylene, polycarbonate and acrylonitrile-butadiene-styrene (ABS) and are suitable for carrying electronic gadgets and fragile products. The durable, light-weight, and lightweight soft-side versions are made from nylon, vinyl, cotton, leather, and vinyl. These bags can be made in many sizes, colors, and patterns.
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Travel Bag Market Dynamics:
The rise of tourism and travel is driving demand and growth in travel bags. Asia and Europe are the most popular tourist destinations, which is driving consumers to travel more often. Traveling is not complete without luggage. These are the main factors driving growth in travel bags.
The market is also driven by changing recreational habits and increasing disposable incomes. Other key factors that are driving growth in the market for travel bags include an increase in air travel and the evolution of product design.
The market for travel bags will be driven by increasing urbanization and lifestyle changes. Fashionable travel bags are also expected to grow in demand. Technological advancements, such as the creation of intelligent luggage with GPS trackers. These factors will drive the market for travel bags over the forecast period.
To keep up with changing trends, consumers are investing in luxury and premium travel bags. Numerous product innovations such as visually appealing and creative designs and eco-friendly versions ensure a positive market outlook. These are the factors driving demand for travel bags.
More consumers are choosing bags and travel bags made from natural and organic fabric paints and canvas, recycled leather and other eco-friendly material. There are many factors that contribute to this trend, including aggressive brand promotion and the creation of an online market that allows customers easy shopping while providing a variety of options. These are the factors that will drive growth in the market for travel bags over the forecast period.
Because these products can be purchased locally and are cheaper than branded bags, the growth of local brands and availability of products by regional and local suppliers is a major factor in the development of travel bags. These are the main factors limiting the growth of the market for travel bags.
The report analyzes market trends and challenges and compiles them. For a better understanding of clients, the report includes data for 2021. Analytics of the market are also based on past years, with market forecasts up to 2029.
Key Market Segments
Type
Lightweight Carry-Ons
Wheeled Duffel Bags and Rolling Luggage
Backpacks and Wheeled Backpacks
Travel Packs
Others
Application
Men
Women
Kid
Key Market Players included in the report:
Samsonite
Osprey
VF Corporation
Victorinox
Travelers Choice
Lowe Alpine
Deuter
Standard Luggage Co
Timbuk2
Herschel Supply
Rimowa
Louis Vuitton
Delsey
Antler
Hermes
Crown
HIDEO WAKAMATSU
ACE
Country
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
Key Questions Answered in Report
Q1. How big is the Travel Bag market?
Q2. What are the notable factors driving the market?
Q3. Which is the most lucrative market for Travel Bag?
Q4. Who are the end users of Travel Bag?
Q5. Which are some of the leading companies offering Travel Bag?
Q6. Which application is driving sales of Travel Bag?
Q7. Ahead of 2022, which region offers the most lucrative open doors for the Travel Bag Market?