The latest report by IMARC Group, titled “Travel Bags Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global travel bags market reached a value of US$ 17.1 Billion in 2022. Travel bags are flexible and lightweight baggage that are used by explorers, trekkers, tourists, and travelers to carry their personal belongings while traveling. They consist of duffel bags, wheeled backpacks, rolling luggage, weekenders, totes, and travel packs and are manufactured using nylon, polyester, cotton, leather, polypropylene, polycarbonate, and acrylonitrile-butadiene-styrene (ABS). In addition, they are waterproof, durable, and available in different sizes, designs, and colors. Owing to such properties, there has been an escalating demand for travel bags across the globe.
Global Travel Bags Market Trends:
The market is primarily driven by the expanding tourism industry. Nowadays, with rising disposable incomes, travelers are investing in premium-quality travel bags. In addition, the easy product availability through online channels at relatively affordable prices represents another major growth-inducing factor. Besides this, various leading players are introducing visually appealing and creative designs to attract consumers. They are also adopting sustainable production techniques to manufacture eco-friendly product variants using organic materials. This, coupled with the rising popularity of trekking and related adventure sports activities among the masses, is creating a positive market outlook across the globe. Moreover, various technological advancements, such as the development of smart travel bags with global positioning system (GPS) system trackers, are also propelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 24.7 Billion by 2028, exhibiting a CAGR of 6.47% during the forecast period (2023-2028).
- Based on the material type, the market has been categorized into polyester, fabric, leather, and others.
- On the basis of the luggage type, the market has been classified into duffle, trolly, and backpacks.
- Based on the price range, the market has been segregated into premium, medium, and low prices.
- On the basis of the demography, the market has been bifurcated into male and female.
- Based on the distribution channel, the market has been segmented into supermarkets and hypermarkets, specialty stores, factory outlets, online stores, and others.
- Region-wise, the market has been divided 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, Colombia, 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 examined in the report, with some of the key players being Delsey SA, Deuter Sport GmbH, Fenix Outdoor International AG, Hermès International SA, Kering SA, Louis Vuitton Malletier, Lowe Alpine, LVMH Moët Hennessy Louis Vuitton, Osprey Packs, Inc., Rimowa GmbH, Samsonite IP Holdings S.àr.l., Timbuk2 Designs, Inc., Victorinox AG, and VIP Industries.
|Base Year of the Analysis
||Material Type, Luggage Type, Price Range, Demography, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Argentina, Colombia, Chile, Peru, Turkey, Saudi Arabia, Iran, United Arab Emirates
||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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