According to the latest report by IMARC Group, titled "Travel Bags Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global travel bags market size reached US$ 19.7 Billion in 2020. Travel bags refer to flexible and lightweight containers that are utilized to carry an individual’s personal belongings while traveling. Widely used by tourists, trekkers and explorers, they can be manufactured using a vast array of materials, including nylon, polyester, cotton, leather, polypropylene, polycarbonate and acrylonitrile-butadiene-styrene (ABS). They are generally waterproof, exceptionally durable in nature and available in the market in a vast array of sizes, designs and colors. Some of the commonly preferred travel bags include totes, duffel bags, travels packs and wheeled luggage.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Travel Bags Market Trends:
The global market is primarily driven by significant growth in the tourism sector. Coupled with rapid urbanization and the inflating disposable income levels of the masses, this has impelled travelers to invest in good-quality travel bags. There has also been an increase in the number of air travelers across the globe due to the reducing flight fares. This has contributed to an increase in the demand for lightweight and ultra-lightweight wheeled luggage with hard side material that is preferable for traveling on flights. The market is further driven by easy product availability through online retail channels. These online portals offer a vast array of travel bags with diverse designs at relatively affordable prices while providing enhanced convenience to the users in the form of flexible payment options and easy return/exchange policies. Moreover, premium and luxury travel bags with creative and visually appealing designs are also gaining widespread popularity among the urban population, which is creating a positive outlook for the market growth. Also, an enhanced focus on sustainable development has impelled travelers to opt for eco-friendly variants that are manufactured using natural and organic fabric and dyes. Some of the other factors contributing to the market growth include the rising popularity of trekking and related adventure sports activities among the masses and the aggressive promotional activities by several key players. On account of the aforementioned factors, the market is expected to witness moderate growth during 2021-2026.
- On the basis of the material type, the market has been divided into polyester, fabric, leather and others.
- Based on the luggage type, the market has been classified into duffle, trolley and backpacks.
- On the basis of the price range, the market has been segmented into premium, medium and low prices.
- Based on the demography, the market has been bifurcated into male and female.
- On the basis of the distribution channel, the market has been segmented into supermarkets and hypermarkets, specialty stores, factory outlets, online stores, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico, Argentina, Columbia, Chile, Peru and others), and Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates and others).
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Delsey SA, Deuter Sport, Fenix Outdoor, Hermès, Kering, Louis Vuitton, Lowe Alpine, LVMH, Osprey, Rimowa, Samsonite, Timbuk2, Victorinox, and VIP Industries.
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