Travel Bag Market by Material Type (Hard Side and Soft Side), Luggage Type (Duffle, Trolley, and Backpacks), Distribution Channel (Supermarkets/Hypermarket, Specialty Stores, Factory Outlets, Online Stores, and Others)

The Global Travel Bag Market was valued at $15,045 million in 2016, and is projected to reach $24,027 million in 2023, growing at a CAGR of 7.1%. The substantial boom in the travel and tourism sector (including medical tourism) fosters the demand for various types of travel bags. The robust movement of business travelers, further fuels the requirement of travel bags especially backpacks and trolleys.

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Rise in travel and tourism has intensified the demand for travel bags. Besides, increase in urbanization, changes in lifestyle, and demand for innovative products such as polycarbonated luggage is further expected to impel the global travel bag market between 2017 and 2023. Increase in purchasing power of middle class households especially in the developing regions is anticipated to create more demand for premium and fashionable travel bags in the region. The advancement in technology such as development of smart luggage with GPS system tracker is also projected to expand the growth of overall market during the forecast period (2017-2023).

The global travel bag market is segmented based on material into hard side, and soft side. The market is also divided by luggage type into duffle, trolley, and backpacks. The market is further sub-divided by different price range, which includes premium, medium range, and low range and by distribution channel into supermarket/hypermarket, specialty stores, factory outlets, online stores, and others. Based on region, the market is categorized across North America, Europe, Asia-Pacific, and LAMEA.

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Key players identified across the value chain of this report include Delsey SA., VIP Industries, TGHI, Inc., Samsonite, Ace Co. Ltd., U.S. Luggage Company, LVMH Group, Travelpro Products, Inc., Rimowa GmbH, Kering SA, and others.

The Asia-Pacific travel bag market witnessed a rapid growth as travel bags are increasingly becoming a fashion accessory with ergonomic designs, trendy color combinations, textures, and clean contoured lines. In addition, design modification and innovative materials offering light bags has further fueled the growth of the market. As more and more people are becoming globally mobile and exposed to international accessories, the demand for travel accessories is shooting up.

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The trolley bag segment is estimated to be the most lucrative market in the global market due to high consumer preference, owing to its ease of mobility, comfortable to transport on various surfaces; across terminals, subways and escalators, and navigating busy and crowded terminals.

Specialty stores by distribution channel dominates the travel bag market. They have gained high preference among consumers as these stores offer considerable depth in the product portfolio by price range, material, luggage type, and design. In addition, high service quality and expert guidance to shoppers enhances shopping experience of consumers.

Key Findings of the Travel Bag Market:

• In 2016, Asia-Pacific dominated the global market with more than one-third share in terms of value.
• Asia-Pacific is estimated to witness the highest growth rate during the forecast period.
• In 2016, China was the leading revenue contributor to the Asia-Pacific travel bag market.
• The soft-side by material type segment generated the highest revenue to the global market in 2016, and is expected to grow at a CAGR of 7.4%.
• The trolley bag segment is estimated to register the highest growth rate, in terms of revenue, registering a CAGR of 10.3%.

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