Travel Bags Market Overviews
Travel Bags Market size was valued at USD 18.23 Bn. in 2023 and the total Travel Bags revenue is expected to grow by 8.2% from 2024 to 2030, reaching nearly USD 31.65 Bn.
Travel bags are essential for explorers, trekkers, tourists, and travelers to carry their belongings. The market offers various types of travel bags, including duffel bags, wheeled backpacks, rolling luggage, weekenders, totes, and travel packs. Hard-side bags are suitable for carrying fragile products and electronic gadgets, and they are made of polypropylene, polycarbonate, and acrylonitrile-butadiene-styrene (ABS). Soft-side bags are lightweight and durable, and they are made of nylon, polyester, cotton, leather, and vinyl.
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Travel Bags Market Scope and Methodology:
The major players in the Travel industry are expected to introduce new technologies and fashion trends in luggage bags. The market will benefit from the introduction of various sizes and designs of casual, travel, sports, business, anti-theft, foldable, and laptop bags. Smart bags, which include features such as a digital locking system controlled by a smartphone, a USB port for charging devices, a GPS tracking system, an integrated removable battery, smartphone, and Bluetooth connectivity, an LED light system, an alert system, increased compartments for a particular item, 360-degree wheels, water-resistant material, convertible seat bags, convertible kick-style scooter bags, a bags box, and replacement batteries, is gaining popularity and is expected to take bags sales to the next level. Smart bags have set the standard for existing products.
Travel Bags Market Regional Insights
The North American region dominated the Travel Bags Market in the year 2023 & is expected to continue its dominance during the forecast period. North America holds the highest backpack market share due to a higher rate of domestic or international travel by individuals for work, education, or casual trips. The higher disposable income of individuals and the presence of top infrastructure facilities for travel & tourism, schools, and universities in the US and Canada make travel convenient, further fueling the market growth. According to the US Department of Education, around 49.5 million students were enrolled in public schools in prekindergarten in 2023 fall, compared to 49.4 million students in 2023, while 19.4 million students attended post-secondary institutes in the fall of 2023. The North American travel & tourism industry contributed USD 1,781 billion in 2021, according to the World Travel & Tourism Council. The Asia Pacific region is expected to grow at a significant CAGR during the forecast period due to the rising popularity of solo trips and road trips in developing countries such as India and China, and increased consumer preferences for smart backpack products.
Travel Bags Market Segmentation
Based on the Product Types, The travel segment dominated the Travel Bags Market in the year 2023 & is expected to continue its dominance during the forecast period. The travel bags market is categorized into travel, hiking or camping, and other segments. The travel segment has the largest market share due to its design, which includes several compartments and pockets to store electronic gadgets, passports, water bottles, and other items. The rise of innovation in camping/trekking backpacks, including designs, material quality, and others, has attracted many individuals and made the market competitive, further driving the market growth. The availability of smart backpacks, recreation bags, and consumer-centric designs has made it easy to organize luggage while traveling. The travel segment’s growth has been driven by an increase in spending on travel and tourism goods worldwide as restrictions have eased, which saw a recovery growth rate of 21.7% in 2023. The staycation or workstation trend saw a rise in 2023 due to international travel restrictions, and most of the workforce was working from home, with the normalization of remote work leading individuals to build workstations at home.
Travel Bags Market Key Players
ACE CO., LTD,
DELSEY S.A
VIP INDUSTRIES LIMITED
UNITED STATES LUGGAGE COMPANY, LLC,
LVMH GROUP
SAMSONITE INTERNATIONAL S.A,
TRAVELPRO PRODUCTS, INC
TGHI, INC
KERING
RIMOWA GMBH
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Key questions answered in the Travel Bags Market are:
- What is Travel Bags ?
- What was the Travel Bags market size in 2023?
- What is the growth rate of the Travel Bags Market?
- Which are the factors expected to drive the Travel Bags market growth?
- What are the different segments of the Travel Bags Market?
- What growth strategies are the players considering to increase their presence in Travel Bags ?
- What are the upcoming industry applications and trends for the Travel Bags Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Travel Bags Market?
- Who are the leading companies and what are their portfolios in Travel Bags Market?
- What segments are covered in the Travel Bags Market?
- Who are the key players in the Travel Bags market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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