Travel Bags Market Overview
As per Stellar Market Research, a global business research and consultancy firm, the total global market for “Travel Bags Market” was USD 18.23 Bn. in 2023 and is expected to grow at a CAGR of 8.2% over the forecast period to reach USD 31.65 Bn. by 2030.
Travel Bags Market Scope and Methodology
The report offers a comprehensive analysis of the Travel Bags Market, providing key insights into pricing, investments, expansion plans, and physical presence in the market. The market estimations and growth rates are derived using a bottom-up approach, ensuring accuracy and reliability. A detailed examination is conducted on the drivers, restraints, opportunities, and challenges influencing the Travel Bags Market. It includes information on the revenue, financial standing, portfolio, technology adoption, merger and acquisition activities, joint ventures, and strategic alliances of the top players in the market. The report also highlights their local market shares, contributing to the competitive environment within the Travel Bags market. Regional analysis is conducted at local, regional, and global levels, providing a comprehensive understanding of market dynamics. The competitive analysis of the growth models and strategies employed by key players, along with a thorough analysis of their dominant market share and penetration. The report also identifies emerging regions that are expected to become major markets for the Travel Bags Market.
Both primary and secondary data sources are utilized in the report, enabling a comprehensive analysis with qualitative and quantitative insights. The primary data collection method involves questionnaires and telephonic interviews with market leaders, business owners, and other relevant stakeholders. Secondary research incorporates data from financial reports, annual reports, white papers, and other reliable sources. The report includes SWOT, PORTER and PESTLE analyses, assessing the potential impact of macroeconomic factors on the Travel Bags Market. SWOT analysis helps identify market threats and weaknesses, while PORTER Five Forces analysis determines the competitive intensity of the industry in the Travel Bags Market.
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Travel Bags Market Regional Insights
The Regional Analysis provides the Travel Bags market status of various countries are included in the report. The report includes a thorough analysis of all the factors, market size, growth rate, and import and export in regions. The analysis of the regions is conducted at a local and country level .The Travel Bags market is broadly segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Travel Bags Market Segmentation
Based on Product Types,
the travel segment dominated the Travel Bags Market in 2023 and is likely to maintain its dominance throughout the forecast period. The travel bag market is divided into three segments: travel, hiking or camping, and other. The travel sector has the biggest market share due to its design, which contains multiple compartments and pockets for storing electrical devices, passports, water bottles, and other accessories. The rise of innovation in camping/trekking backpacks, including styles, material quality, and others, has attracted many people and made the industry more competitive, hence boosting market expansion. The development of smart backpacks, recreation bags, and consumer-friendly designs has made it simple to arrange luggage when traveling. The travel segment's rise has been fueled by an increase global spending on travel and tourist goods has increased as limitations have been lifted, with a recovery growth rate of 21.7% in 2023. Due to foreign travel limitations, the staycation or workstation trend increased in 2023, and the majority of the workforce worked from home, with the normalization of remote work prompting individuals to install workstations at home.
Travel
Hiking/Camping
Others
Based on material,
the nylon segment dominated the Travel Bags Market in 2023 and is likely to maintain its dominance over the forecast period. The travel bag market is divided into three material categories: nylon, polyester, and others. The nylon segment currently dominates the worldwide market and is predicted to increase at a considerable CAGR over the forecast period. Nylon, a class of synthetic polymers, is a waterproof and very resilient material that can survive harsh environments without damage. Its capacity to be converted into fibers, films, and other products makes it a popular material among producers such as Samsonite IP Holdings SARL, Under Armour, and Adidas. Ripston nylon is used to make more durable, anti-theft, and waterproof bags that are popular with consumers. The Lightweight nylon backpacks have grown in favor among travelers and trekkers as individual lives, working habits, travel patterns, and recreational activities have changed.
Nylon
Polyester
Others
Based on Distribution Channels, the offline channel segment dominated the Travel Bags Market in 2023 and is likely to maintain its dominance during the forecast period. The travel bag market is divided into online and offline channels based on distribution. The offline channel segment has the largest market share, which comprises hypermarkets/supermarkets, specialty stores, and others. Hypermarkets/supermarkets provide a diverse choice of brands under one roof and are conveniently positioned near residential areas for quick access. Offline stores carry a wide range of bags from manufacturers, including work bags, sports, travel, hiking/trekking, school, and casual backpacks. These products are arranged on shelves by category, with placards displaying product information and prices.
Online Channel
Offline Channel
Travel Bags Market Key Players
ACE CO., LTD,
DELSEY S.A
VIP INDUSTRIES LIMITED
UNITED STATES LUGGAGE COMPANY, LLC,
LVMH GROUP
SAMSONITE INTERNATIONAL S.A,
TRAVELPRO PRODUCTS, INC
TGHI, INC
KERING
RIMOWA GMBH
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Key questions answered in the Travel Bags Market are:
- What is Travel Bags?
- What was the Travel Bags market size in 2022?
- What are the different segments of the Travel Bags Market?
- What growth strategies are the players considering to increase their presence in Travel Bags?
- What are the upcoming industry applications and trends for the Travel Bags Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Travel Bags Market?
- Who are the key players in the Travel Bags market?
- What major challenges could the Travel Bags Market face in the future?
- What segments are covered in the Travel Bags Market?
- Who are the leading companies and what are their portfolios in Travel Bags Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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