Overview and Scope
Travel bags refer to specialized luggage items specifically designed for securely and conveniently carrying belongings during travel. These bags, available in various shapes, sizes, and designs, are typically designed to be durable and functional to provide travelers with a reliable and organized way to carry clothing, accessories, and other essentials while on the move.
Sizing and Forecast
The travel bags market size has grown strongly in recent years. It will grow from $18.31 billion in 2023 to $19.74 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to transportation evolution, fashion and design trends, consumer preferences and lifestyle changes, marketing and advertising, colonial expansion, cultural shifts and social norms.
The travel bags market size is expected to see strong growth in the next few years. It will grow to $27.09 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to urbanization and mobility, global travel trends, luxury travel, travel regulations and security measures, e-commerce expansion. Major trends in the forecast period include rise in demand for eco-friendly materials, innovative features like built-in chargers, GPS tracking, personalized customization options, versatile design, convenience for modern travelers.
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Segmentation & Regional Insights
The travel bags market covered in this report is segmented –
1) By Product: Duffle, Trolley, Backpacks
2) By Material Type: Polyester, Fabric, Leather, Other Material Types
3) By Price Range: Premium Price, Medium Price, Low Price
4) By Distribution Channel: Online, Offline
North America was the largest region in the travel bags market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the travel bags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rising tourism sector is expected to propel the growth of the travel bags market going forward. Tourism refers to the activity of traveling to different places, typically for leisure, recreation, or cultural exploration. Tourism is on the rise because of several factors, including rising social media and digital influence, increased mobility, increasing sporting events and music festivals, and more. Travel bags are used as essential tools for tourism to ensure convenience, storage, organization, and protection of their belongings while navigating the challenges of travel. For instance, in June 2022, according to reports shared by the US Department of Commerce, a US-based executive department of the federal government, international arrivals for travel and tourism in US states increased to 22.1 million in 2021 from 19.2 million in 2020. Therefore, the rising tourism sector is driving the growth of the travel bags market.
Key Industry Players
Major companies operating in the travel bags market are Louis Vuitton Moët Hennessy, Kering S.A, Eagle Creek Inc., Hermes international, VF corporation, callaway golf company, Samsonite International S.A., Marel Inc., Fenix outdoor, Tumi Holdings Inc., Pelican Products Inc., Black Diamond Equipment Ltd., Delsey SA, Patagonia Inc., Longchamp SAS, Travelpro International Inc., Thule Group, Kipling Retail LLC , High Sierra Sport Company, Timbuk2 Designs Inc., Briggs & Riley Travelware LLC, Swissgear, Rimowa GmbH, Deuter Sport GmbH, Everest Bag
The travel bags market report table of contents includes:
1. Executive Summary
2. Travel Bags Market Characteristics
3. Travel Bags Market Trends And Strategies
4. Travel Bags Market – Macro Economic Scenario
5. Global Travel Bags Market Size and Growth
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32. Global Travel Bags Market Competitive Benchmarking
33. Global Travel Bags Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Travel Bags Market
35. Travel Bags Market Future Outlook and Potential Analysis
36. Appendix
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