Travel Bags Market Size, Industry Trends, Share, Growth & Forecast Report 2024-2032

Summary:

• The global travel bags market size reached USD 18.2 Billion in 2023.
• The market is expected to reach USD 29.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5.5% during 2024-2032.
• Asia Pacific leads the market, accounting for the largest travel bags market share.
• On the basis of the material type, the market is segmented into polyester, fabric, leather, and others.
• Duffle holds the largest share in the travel bags industry.
• Medium price remains a dominant segment in the market because they appeal to a broad spectrum of customers looking for durability without the price tag of luxury by striking a balance between quality and affordability.
• The male represents the leading demography segment.
• Specialty stores account for the majority of shares in the market as they offer a carefully chosen range of premium travel bags so that clients can try the items out and get professional guidance.
• An increase in business travel due to globalization and the expansion of multinational companies is driving demand for high-quality, professional travel bags suited for frequent travelers.
• The rising awareness of sustainability and eco-consciousness among consumers has led to a growing preference for eco-friendly travel bags made from recycled or biodegradable materials.

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Industry Trends and Drivers:

Rising Trend for Global Tourism:

One of the primary drivers is the increasing trend of global tourism. As international and domestic travel has become more accessible and affordable, particularly due to the rise of budget airlines and expanded transport infrastructure, consumers are traveling more frequently for leisure, business, and education purposes.

This surge in travel has led to a growing demand for durable, stylish, and functional travel bags that cater to various needs, such as carry-on luggage, backpacks, and large suitcases. Moreover, the rise of adventure tourism, which involves activities like hiking, trekking, and camping, has increased the demand for specialized bags that are rugged, water-resistant, and feature multiple compartments for gear storage, thus aiding the market growth.

Rapid Urbanization and Changing Lifestyle:

Another critical factor propelling the travel bags market is the rapid urbanization and changing lifestyles of consumers, particularly in developing economies. As urbanization intensifies, consumers are experiencing higher disposable incomes, allowing them to spend more on travel-related products, including travel bags. In addition to functional requirements, there is a growing emphasis on style and brand-consciousness among consumers.

Many people now seek travel bags that not only serve a practical purpose but also reflect their personal style and status. Moreover, the increasing integration of fashion and functionality in travel bags, such as smart luggage with tracking devices and universal serial bus (USB) ports, is also appealing to tech-savvy consumers, further bolstering the market growth.

Rising E-Commerce and Growing Online Shopping:

The expansion of digital marketplaces has made it easier for consumers to browse and purchase travel bags from a wide range of brands and price points. Online retailers often provide detailed product descriptions, user reviews, and competitive pricing, enabling consumers to make informed purchasing decisions. Additionally, e-commerce platforms offer frequent discounts and promotions, which attract price-sensitive customers.

With the rise of social media and influencer marketing, many brands are also able to showcase their travel bag collections to a global audience, boosting visibility and sales. The convenience of online shopping, coupled with the growing prevalence of mobile commerce, particularly among younger, digitally-savvy consumers, is strengthening the market demand.

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Travel Bags Market Report Segmentation:

Breakup By Material Type:

• Polyester
• Fabric
• Leather
• Others

On the basis of the material type, the market is segmented into polyester, fabric, leather, and others.

Breakup By Luggage Type:

• Duffle
• Trolley
• Backpacks

Duffle account for the majority of shares as they are highly versatile and favored for their lightweight design, ease of carrying, and suitability for short trips and gym use.

Breakup By Price Range:

• Premium Price
• Medium Price
• Low Price

Medium price dominates the market as they offer a balance between quality and affordability, appealing to a wide range of consumers seeking durability without luxury pricing.

Breakup By Demography:

• Male
• Female

Male holds the majority of shares because they prioritize functional and durable travel bags for business and leisure travel.

Breakup By Distribution Channel:

• Supermarkets and Hypermarkets
• Specialty Stores
• Factory Outlets
• Online Stores
• Others

Speciality stores represent the majority of shares because they provide a curated selection of high-quality travel bags, allowing customers to experience the products firsthand and receive expert advice.

Breakup By Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Asia Pacific holds the leading position owing to the rapid economic growth, increasing disposable incomes, and a booming tourism industry in countries like China and India.

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Top Travel Bags Market Leaders: The travel bags market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.

Some of the key players in the market are:

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

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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This release was published on openPR.