Global Travel Bag Market Size To Exceed $ 38.10 Billion By 2033 | CAGR Of 7.81%
Category: Consumer GoodsGlobal Travel Bag Market Size To Exceed $ 38.10 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Travel Bag Market Size Expected to Grow from USD 17.96 Billion in 2023 to USD 38.10 Billion by 2033, at a CAGR of 7.81% during the forecast period 2023-2033.
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Browse key industry insights spread across 220 pages with 110 Market data tables and figures & charts from the report on the "Global Travel Bag Market Size, Share, and COVID-19 Impact Analysis, By Material Type (Polyester, Fabric, Leather, Others), By Luggage Type (Duffle, Trolley, Suitcases, Backpacks), By Price Range (Premium Price, Medium Price, Low Price), By Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Factory Outlets, Online Stores, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here https://www.sphericalinsights.com/reports/travel-bag-market
A travel bag is a type of luggage designed for short journeys, vacations, or business travel that is organized, convenient, and portable. It can be carried on as carry-on luggage, wheeled suitcases, backpacks, or duffel bags, among other forms. Acrylonitrile-butadiene-styrene (ABS), polypropylene, and polycarbonate make up hard-side bags, which are suitable for carrying breakables and electronics. The increasing accessibility of domestic and international travel is driving demand for robust and useful travel bags, hence boosting market expansion. It is also expected that the top travel industry corporations will introduce new luggage bag technologies and fashion trends. The sector is growing quickly as a consequence of consumers having access to a wide range of goods at reasonable prices through online shopping and e-commerce platforms. However, In the worldwide travel bag market, this means that unorganized market firms are increasing while organized market enterprises are missing out on prospective clients. This trend is going to hinder the expansion of the global travel bag market in the upcoming years.
The polyester segment is expected to hold the largest share of the global travel bag market during the anticipation timeframe.
Based on the material type, the global travel bag market is categorized into polyester, fabric, leather, and others. Among these, the polyester segment is expected to hold the largest share of the global travel bag market during the anticipation timeframe. Polyester is a highly favoured fabric because of its strength, ability to tolerate stretching and shrinking, and quick drying time. In addition to its low cost, polyester is a popular choice for travelers on a tight budget.
The Suitcase segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the luggage type, the global travel bag market is categorized into duffles, suitcases, trolleys, and backpacks. Among these, the suitcases segment is expected to grow at the fastest CAGR during the anticipation timeframe. With its many pockets, sections, and dividers, luggage let travellers organize their belongings more efficiently. This organization keeps accessories, toiletries, and clothes apart, which reduces wrinkles and makes it easier to locate certain items without having to open the entire bag.
- The medium price segment is expected to hold the largest share of the global travel bag market during the anticipation timeframe.
Based on the price range, the global travel bag market is categorized into premium price, medium price, low price. Among these, the medium price segment is expected to hold a significant share of the global Travel Bag market during the anticipation timeframe. Appealing to many clients who place equal importance on price and quality. It satisfies the needs of both frequent and infrequent travellers who desire durability, functionality, and style without having to pay the high costs associated with renowned brands. Furthermore, because of their versatility and general appeal, mid-range travel bags are ideal for a variety of travel needs, including both professional and personal trips.
The specialty stores segment is predicted to dominate the global travel bag market during the anticipation timeframe.
Based on the distribution channel, the global travel bag market is categorized into supermarkets and hypermarkets, specialty stores, factory outlets, online stores, and others. Among these, the specialty stores segment is predicted to dominate the global travel bag market during the anticipation timeframe. Specialty stores offer a wide range of high-end travel bags from several brands, making it convenient for buyers to compare features, styles, and materials in one location. Furthermore, store staff typically possess deep product knowledge and can offer customized advice and assistance to customers.
Asia Pacific is projected to hold the largest share of the global travel bag market over the anticipation timeframe.
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Asia Pacific is projected to hold the largest share of the global travel bag market over the anticipation timeframe. Encouraged by the rapid urbanization, growth of the middle class, and increase in disposable money. The region's diverse consumer base, which consists of people with a wide range of interests and spending capacities, is another factor fueling the market's growth. This leads to a variety of products, such as affordable, excellent travel bags.
North America is expected to grow at the fastest CAGR growth of the global travel bag market during the anticipation timeframe. Considering that more individuals are travelling for work, pleasure, or education both domestically and internationally. Travel is more convenient and helps the travel industry thrive in the US and Canada because of their superior travel and tourist infrastructure, schools, and institutions.
Major vendors in the global Travel Bag market are Victorinox, VIP Industries, Elsey SA, Deuter Sport, Fenix Outdoor, Hermes, Osprey, Rimowa, Samsonite, Timbuk2, Kering, Louis Vuitton, Lowe Alpine, LVMH, Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In November 2023, the first facility of the well-known German luxury luggage brand Rimowa was established in India. This marks the brand's introduction to the Indian market and is situated inside Jio World Plaza, the most lavish retail complex in Mumbai.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global travel bag market based on the below-mentioned segments:
Global Travel Bag Market, By Material Type
- Polyester
- Fabric
- Leather
- Others
Global Travel Bag Market, By Luggage Type
- Duffle
- Trolley
- Backpacks
Global Travel Bag Market, By Price Range
- Premium Price
- Medium Price
- Low Price
Global Travel Bag Market, By Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Factory Outlets
- Online Stores
- Others
Global Travel Bag Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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