Global Travel Bag Market Insights Forecasts to 2033

• The Global Travel Bag Market Size was Valued at USD 17.96 Billion in 2023
• The Market Size is Growing at a CAGR of 7.81% from 2023 to 2033
• The Worldwide Travel Bag Market Size is Expected to Reach USD 38.10 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Travel Bag Market Size is Anticipated to Exceed USD 38.10 Billion by 2033, Growing at a CAGR of 7.81% from 2023 to 2033.  

Market Overview

A travel bag is a kind of luggage with convenience, organization, and portability intended for quick trips, holidays, or business travel. It can come in various forms, such as duffel bags, backpacks, wheeled suitcases, or carry-on luggage. Hard-side bags are composed of acrylonitrile-butadiene-styrene (ABS), polypropylene, and polycarbonate and are appropriate for transporting electronics and breakable items. Made of nylon, polyester, cotton, leather, and vinyl, soft-side bags are strong and portable. These bags come in multiple sizes, patterns, and colors, and can be personalized per the consumer's specifications. The need for travel bags has increased as a result of the notable expansion in the travel and tourism sector, which includes medical tourism. One of the largest industries, travel and tourism generate significant amounts of income for the majority of nations. The need for cutting-edge goods like polycarbonate baggage, changes in lifestyle, and rising urbanization are all predicated on fueling growth in the global travel bag industry. It is anticipated that middle-class households, especially those in developing nations. Over the forecast period, technological developments like the creation of smart luggage with GPS trackers are projected to boost the global travel bag market’s expansion.  

Report Coverage

This research report categorizes the market for the global travel bag market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global travel bag market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global travel bag market.

Driving Factors

The need for strong and practical travel bags is being driven by the growing accessibility of both domestics and international travel, which is driving market growth. Moreover, it is anticipated that the leading companies in the travel sector will launch new luggage bag technology and fashion trends. The introduction of a range of sizes and designs of laptops, business, sports, travel, casual, anti-theft, and foldable bags would be beneficial to the industry. The industry is expanding rapidly due to the growing use of e-commerce platforms and online shopping, which provides customers with a large selection of goods at affordable costs. Furthermore, the growing ease of home delivery, flexible return policies, and the capacity for online pricing and product comparisons that improve the shopping experience for customers are also driving factors in the market's expansion.

Restraining Factors

It is expected that the unorganized travel bag market in developing countries will present major challenges for the organized industry. The bulk of purchasers are middle-class or lower-class individuals who favor products of kind of lesser quality. In the global travel bag market, this means that unorganized market players are growing while organized market companies are missing out on potential clints. In the coming years, this trend is expected to hamper the growth of the global travel bag market.

Market Segmentation

The global travel bag market share is classified into material type, luggage type, price range, and distribution channel.

• The polyester segment is expected to hold the largest share of the global travel bag market during the forecast period.   

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 forecast period. Based on its strength, capacity to withstand stretching and shrinking, and speed of drying, polyester is a highly preferred fabric. Polyester cost makes it a favorite among travelers on a tight budget. Polyester travel bags are very lightweight, which makes them perfect for flights where weight restrictions are an issue. Additionally, the material's adaptability, which enables the addition of different patterns and hues to suit a range of customer preferences, is driving market expansion.

• The Suitcase segment is expected to grow at the fastest CAGR during the forecast period.   

Based on the luggage type, the global travel bag market is categorized into duffle, suitcases, trolley, and backpacks. Among these, the suitcases segment is expected to grow at the fastest CAGR during the forecast period.  Suitcases have numerous pockets, dividers, and sections, suitcases allow travelers better arrange their stuff. This arrangement lessens the possibility of wrinkling and facilitates finding certain goods without having to unpack the entire bag by keeping accessories, toiletries, and clothing well-separated. Wheels are a standard feature on most bags, which greatly improves mobility and convenience of travel.

• The medium price segment is expected to hold the largest share of the global travel bag market during the forecast period.   

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 forecast period. Attractive to an extensive number of customers who value both cost and quality. It meets the needs of regular and casual travelers who want design, functionality, and durability without having the cost of premium prices for known brands. Furthermore, at more affordable price ranges, medium-priced travel bags frequently have characteristics like sturdy fabrics, various compartments, and ergonomic designs. In addition, medium-priced travel bags are perfect for a range of travel requirements, including business and pleasure travels, due to their adaptability and widespread appeal.

The specialty stores segment is predicted to dominate the global travel bag market during the forecast period.

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 forecast period. Specialty stores give a large selection of premium travel bags from different brands, enabling customers to compare features, styles, and materials all in one place. In addition, store employees usually have in-depth product knowledge and may provide customers with tailored guidance and support. The boost of the business is also being aided by specialty the seller's capacity to quickly adjust to changing consumer preferences and provide discriminating consumers with the newest innovations and fashions.

Regional Segment Analysis of the Global Travel Bag Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is projected to hold the largest share of the global travel bag market over the forecast period.

Asia Pacific is projected to hold the largest share of the global travel bag market over the forecast period. Promoted by the middle class's expansion, rising discretionary incomes, and fast urbanization. Further driving the market's expansion is the region's heterogeneous customer base, which has a wide range of tastes and spending capacities. This results in a wide range of items, including reasonably priced and high-quality travel bags. The industry is expanding due to the presence of multiple significant manufacturers in the area along with the growing popularity of online retailing. Furthermore, the industry is expanding as a consequence of the growing significance of cultural factors, such as consumers' inclination to travel abroad and their emphasis on high-quality, branded goods.

North America is expected to grow at the fastest CAGR growth of the global travel bag market during the forecast period. Since more people are traveling both domestically and abroad for leisure, business, or education. The US and Canada have superior travel and tourism infrastructure, schools, and institutions, which makes travel convenient and contributes to market growth. Individuals also have more disposable cash. Furthermore, travellers in the area have a love for sturdy, creative travel bags that come equipped with amenities like USB charging outlets, security locks, and high-tech materials. Furthermore, e-commerce platform usage and the existence of prominent global companies are supporting the travel bag market's expansion.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global travel bag market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Victorinox
• VIP Industries
• Delsey SA
• Deuter Sport
• Fenix Outdoor
• Hermes
• Osprey
• Rimowa
• Samsonite
• Timbuk2
• Kering
• Louis Vuitton
• Lowe Alpine
• LVMH
• Others

Key Market Developments

• In November 2023, the well-known German luxury luggage company Rimowa opened its first location in India. Located inside Mumbai's most opulent shopping complex, Jio World Plaza, this represents the brand's debut in the Indian market.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

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