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.
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 bags 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).
Based on material, the global travel bags market is bifurcated 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.
ACE CO. LTD.
U.S. LUGGAGE COMPANY
JIAXING BIANCA LUGGAGE INDUSTRIAL CO. LTD.
TRAVELPRO PRODUCTS, INC.
KEY MARKET BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the travel bags market with current and future trends to elucidate the imminent investment pockets in the market.
The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
Porters Five Forces model analysis of the industry illustrates the potency of the buyers and suppliers.
Market player positioning in the report provides a clear understanding of the position of leading companies.
KEY MARKET SEGMENTS
By Material Type
By Luggage Type
By Price Range
By Distribution Channel
Rest of Europe
Rest of Asia-Pacific
OTHER KEY PLAYERS*
Michael Kors Holdings Limited.
Lvmh Mo?t Hennessy Louis Vuitton
Fenix Outdoor AB.
Herschel Supply Co.
The above companies are not profiled in the report, but can be added based on interest.