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Travel and Business Bags Market 2017 – Industry Trends and Forecast to 2025

12-05-2017 02:05 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Travel and Business Bags Market 2017 – Industry Trends

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 travel and business bags has wider acceptance among the population across the globe. Leather travel and business bags have superior strength, aesthetic look and up man ship among the high income and middle income group people. The costs of leather travel and business bags depend 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 bags portfolio which has a tough and durable exterior and provides superior stain protection and abrasion. Superior compartment of travel and business bags accommodates laptops, important documents, pens, travel documents and other small electronic gadgets.

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In order to provide an in-depth analysis of the global travel and business bag market, the travel and business bag market has been classified to provide detailed overview. 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 back packs, duffel bags, business bags, trolley bags and suit cases. Trolley bags and duffle bags have occupied a significant position in the travel and business bags market over the years as they are light in weight, well placed with special handles, easy accessible pockets, appropriate for the elderly population and have 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 in travel and business bags market 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.

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In addition, data related to current market demand along with future expected growth trend of travel and business bags market, cross sectional analysis of all the above mentioned travel and business bags segment across different region is also provided in this report. In the region wise study the global travel and business bags market has been segmented into North America, Europe, Asia Pacific, Middle-East and Africa (MEA) and Latin America. Europe travel and business bags market includes Germany, France and Italy among the other countries held a significant market share of travel and business bags market over the years. Owing to rise in demand for travel and business bags over the years due to rise in tourist traffic and air travel across Europe. The travel and business bag market of the Europe is followed by North American travel and business bag market in 2016. Asia Pacific travel and business bags market 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. This in turn is anticipated to boost the demand for travel and business bags in this region.

Due to the presence of large number of travel and business bag manufacturers, the global travel and business bag market is competitive in nature. Some of the major participants in the travel and business bags industry include Delsey, Louis Vuitton, Safari industries, Samsonite International, VIP industries, Wildcraft India, Aldo, Alfred Dunhill, Boconi, BottegaVeneta, 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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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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