Travel and Business Bags Market - Continuous Research and Development for New Products with Unique Design and Quality

Travel and business bags are considered as one of the convenient goods as it accommodates all the necessary items such as clothes, daily use articles, important documents, electronic gadgets and other essentials while travelling from one place to another. Travel and business bags are manufactured from various types of materials such as jute, textile, coated fabrics and leather. However leather travelling bags has wider acceptance among the population across the globe. Leather travel bags has superior strength, aesthetic look and up man ship among the high income and middle income group people.

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The costs of leather travel and business bags depends upon space, style and the type of leather used. Travel and business bags manufacturers over the years engage upon continuous research and development in order to develop new products of travel and business bags with unique design and quality. Richardo Beverly Hills introduced a new product in their travel and business bag portfolio which has a tough and durable exterior and provides superior stain protection and abrasion. Superior compartment accommodates laptops, important documents, pens, travel documents and other small electronic gadgets.

The global travel and business bags market has been segmented into different product types and by distribution channel. By different product types the global travel and business bags has been categorized into bag packs, duffel bags, business bags, trolley bags and suit cases. Trolley bags and duffle bags are occupying a significant position over the years as they are light in weight, well placed with special handles, easy accessible pockets, appropriate for the elderly population and has spinner wheels for easy movement. The global travel and business bags are further segmented into by distribution channel namely online distribution channel and offline distribution channel. Online distribution channel are experiencing a steady growth rate due to rising penetration of smart phones with improved internet facilities over the years and easy convenience among the population.

The global travel and business bags are mainly driven by rise in industrialization, rise in economic standards of the people over the years and increased consciousness towards tourism and fashion among the population across the globe. Rise in income among the consumers coupled with inclination towards proper life style and entertainment enhancements are resulting to the shift in consumer preference towards different brands of travel and business bags However rise in the number of counterfeit products coupled with rising unorganized sectors over the years are restraining the global travel and business bags market.

In the region wise study the global travel and business bags market has been segmented into North America, Europe, Asia Pacific, Middle East, Africa and Latin America. Europe which includes Germany, France, and Italy among the other countries held a significant market share over the years due to rise in demand for travel and business bags over the years due to rise in tourist traffic and air travel across Europe. Asia Pacific region which includes China, India, and Japan among the other regions showed the fastest growth during the forecast period due to the rising affluence among the middle class population coupled with rise in migration in these regions. Urban consumers in the Asia Pacific region are seen to contribute a large portion of the sales of travel and business bags due to their rising consciousness regarding brand preference and increasing disposable income among the consumers.

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Global key participants in the industry include Delsey, Louis Vuitton, Safari industries, Samsonite International, VIP industries, Wildcraft India, Aldo, Alfred Dunhill, Boconi, Bottega Veneta, Caribee, Ferari, Gianni Versace, Richardo Beverly Hills, IT Luggage, Mandarina Duck, Pierre Cardin, Prada, Puma, Lulu Guinness, Ralph Lauren, River Island, Russel & Bromley, TOD’s and Wenger, Donna Karan International, Amazonlife, Adidas, among others.

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