The Travel Bags Market is likely to hold the global market at a moderate CAGR of ~8.3% during the forecast period. The global market holds a forecasted revenue of ~US$ 16.9 Billion in 2022 and is likely to cross ~US$ 37.5 Billion by the end of 2032.
The travel bags market is anticipated to show promising growth prospects during the forecast period, expanding the Travel Bags market size.
Attribute
Details
The Travel Bags Market Estimated Size (2021)
~US$ 15.2 Billion
The Travel Bags Market Estimated Size (2022)
~US$ 16.9 Billion
The Travel Bags Market Projected Size (2032)
~US$ 37.5 Billion
The Travel Bags Market CAGR (2022 to 2032)
~8.3%
Travel and tourism is the one of biggest sector providing large chunk of revenue to most of the countries. Travel does not come alone, there are some factors which are always related to it, and the most common one is luggage. The travel bags are the commonly used commodity for transporting luggage.
There are lots of innovations and design changes in travel bags, even now, we have tons of options of lightweight and durable bags, with lots of designs and many more factors to choose from. Along with these selection criteria’s, changing lifestyle, increasing income and trending tourism in different countries are few factors helping travel bags sector.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Rise In Travel Will Be Directly Impacting The Travel Bags Market Positively
Travelling is slowly becoming a popular trend for every individual. Everyone is planning to travel somewhere, whether it may be a domestic trip or international trip. People are using travel as a medium of relaxation and escaping the daily boring routine.
Every traveller always struggles with one problem, and that is luggage. Planning what is important and to take along while travelling is always a struggle. To avoid such trouble, travellers prefer bigger or multiple bags. As the tourism grows, demand for travel bags will be growing along with it. So as long as tourism sector is running positively, the travel bags market will remain in action.
Travellers always try to pick the best travel bag according to their needs, and the manufacturers are always ready to respond to such demands. Every traveller is different and to satisfy their demands, bags manufacturers provide number of features, designs, quality and functionality to these bags.
As the tourism is rising and everyone is travelling for some reason, it might be for leisure or business, long trip or short trip, bags are also changing their forms. Due to all these reasons, travelling bags market is observing rise in the market.
Increasing Competition And Decreased Traveller Frequency Can Have Negative Impact On Travel Bags Market
There are some challenges faced by travel bags manufacturers and the main challenges are: availability of local, relatively cheaper brands and fluctuations in tourism sector.
There are some times when tourism will be closed. Such a moment was the COVID epidemic. Globally, tourism was completely shut down during the pandemic for almost a year. Travel luggage and other industries associated to tourism were severely impacted by this.
The pandemic is finished today, but the repercussions of lockdown are still present. People opt for remote locations or favour local travel because they are afraid to visit crowded regions. This is causing the demand for travel bags to decline generally.
Local suppliers' competition is another issue that travel bag manufacturers deal with. There are several well-known brands in the market that are well-liked by travellers due to the features and services they offer for travel bags. New companies are however joining the market as a result of regional development.
These suppliers sell bags that are reasonably priced and of good quality. As many travellers do not make long-term plans, they also favour these products. Some locally produced companies attempt to copy popular national brands and sell them for less money.
Due to their similarity to the original products and inexpensive pricing, these products are frequently purchased by consumers. These factors are might have negative impact on the Travel Bags market.
Find your sweet spots for generating winning opportunities in this market.
Country Insights
Japan is keeping it simple and useful when it comes to travel bags.
Japan is one of the most COVID aware countries, which had limited the tourist’s entries. The country is now opening its borders for all tourists. The domestic tourism is also forecasted to observe rise. This means travel bag providers will also see rise in business.
Japanese people are known for simplicity and minimal lifestyle and these qualities can be observed in their travel bags too. The Japanese travel bags are simple in design, but are packed with unique features and large storage sizes. Not only big bags, but backpacks are also provided some convenient features and large storage.
Americans are preferring light weight and anti-theft bags to ensure safe travel.
America is observing a rise in tourism sector, with both international and domestic travels are on incline. The outbound tourism was much less previous year due to pandemic and regulations on travelling, but as the regulations are removed, American tourists are ready to explore the world once again.
America people mostly spend on international leisure tours, and business tours. Again, international flights have rules for baggage weight, so American people prefer lightweight and strong trolley bags. There is always danger of theft of losing the luggage, in such cases, American tourists purchase a bags with inbuilt GPS and smart locks.
Competitive Landscape
Some key players in the Travel Bags market are Samsonite Company Stores, United States Luggage Company (LLC), Ace Co. Ltd., Targus Group International Inc., Away, Shanghai Fochier Intel’ Co. Ltd., Tumi, Travelpro International Inc., Rimova, Delsey SA, Crown, VIP Industries Ltd., Antler, and New Travel Sports Co. Ltd., Eagle Creek, Everest and others.
VIP bags launched a special trolley bag series in 2021, designed keeping the corporate travelers in mind. These bags are named ‘Zorro Pro’, and have some features extremely useful for business travelers. The bag has accessible laptop compartment and a compartment for suit, helping in keeping them safe and accessible when needed.
Away luggage bags are popular among travelers, thanks to their unique design, attractive colors and features. The carry-on bags are top sellers among all the products from the brand. These bags are equipped with features like TSA approved detachable charger, smart lock and lightweight design. In 2021, they launched 8 more products, from side bags, trolley bags to laptop sleeves.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need and save 40%!
Scope Of Report
Attribute
Details
Growth Rate
CAGR of ~8.3% from 2022 to 2032
Base year for estimation
2021
Historical Data Available for
2017 to 2021
Forecast Period
2022 to 2032
Quantitative units
Revenue in USD Billion, volume in Units, and CAGR from 2022 to 2032
Report coverage
Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, pricing analysis
Segments covered
Material Used, Type of Bag, Distribution Channel, Price Range, Region
Country scope
USA; Canada; Mexico; Germany; UK; France; Italy; Spain; Russia; India; Thailand; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; South Africa
Key Companies Profiled
Samsonite Company Stores
United States Luggage Company (LLC)
Ace Co. Ltd.
Delsey SA, Crown
VIP Industries Ltd.
Antler
Away
New Travel Sports Co. Ltd.
Eagle Creek
Targus Group International Inc.
Shanghai Fochier Intel’ Co. Ltd.
Tumi
Travelpro International Inc.
Rimova
Everest
Others
Customization scope
Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs.
Key Segments Profiled In The Travel Bags Market
By Material Used:
Soft side
Hard side
Hybrid
By Type of Bag:
Backpacks
Suitcases or trolley bags
Duffle bags
By Distribution Channel:
Factory outlets
Online stores
Supermarkets
Specialty stores
Traditional stores
Discounted stores
Others
By Price Range:
Premium
Medium
Budget
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa
Frequently Asked Questions
What is the current travel bags market value?
The travel bags market is expected to reach a valuation of ~US$ 16.9 Bn in 2022.
What are the key trends driving the travel bags market?
Increased tourism post COVID and increase in frequent travellers travelling for multiple reasons, like leisure and business are some key trends responsible for driving the travel bags market.
Who are the leading players in the travel bags market?
Leading players operating in travel bags market are Samsonite Company Stores, United States Luggage Company (LLC), Ace Co. Ltd., Targus Group International Inc., Shanghai Fochier Intel’ Co. Ltd., Tumi, Travelpro International Inc., Rimova, Delsey SA, Crown, VIP Industries Ltd., Antler, Away, New Travel Sports Co. Ltd., Eagle Creek, Everest and among others.
