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Global Travel Bag Market Analysis & Opportunity Outlook 2021

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Extensive insights into the Growth of Travel Bag Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Travel Bags Market Overview button

The world has witnessed an upsurge in travel and tourisms over previous few years. Large number of people travels to various tourist destinations each year. Since frequency of travels have increased people look forward for lighter and compact luggage options such as travel bags.

Travel bags are segmented under the global luggage industry, which is envisioned to witness an expansion from USD 30,969 Million in 2014 to USD 43,358 Million in 2020, registering a CAGR of 5.8%. Regionally, the global travel bags market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and Rest of World (Row).

Market Size and Forecast

North America travel bags market is likely to get propelled from increasing international and domestic travels in country such as the U.S. For instance, domestic travel increased by 4.2% in the U.S. in 2014 to reach 2.3 billion person trips in 2015.Europe travel bags market is also anticipated to expand from increasing innovation by manufacturers to provide more flexible and comfortable travel bags to travellers.Asia-Pacific travel bags market is likely to witness a substantial growth during 2015-2021. The market in the region is expected to spark from increasing per capita income and rising urbanization in India and China.CLICK TO DOWNLOAD FREE SAMPLE REPORT

Market Segmentation

By Type

  • Backpack
  • Duffles
  • Trolleys

By Material

  • Polyester
  • Fabric
  • Leather

By Demography

  • Male Travel Bags
  • Female Travel Bags

By Distribution Channel

Source: Research Nester

  • Online Retail Stores
  • Speciality Retailers
  • Supermarkets/department stores/hypermarkets

The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

Growth Drivers and Challenges

Increasing number of passengers travels coupled with rising disposable incomes are anticipated to drive the global travel bags market in future.In addition to that, growth in urbanization is also expected to fuel the global travel bags market during 2015-2021.However, presence of large number of un-organized players in emerging countries such as India and China are projected to hamper the global travel bags market over next few years.

Key Players

Global travel bags market includes some of the top players such as VIP Industries, VF Corporation, Briggs & Riley Travelware, MCM Worldwide, Samsonite, etc.

Scope and Context

Overview of the Parent Market

Analyst View

Market Size and Growth

  • North America (U.S., Canada) Market Size & Y-O-Y Growth Analysis
  • Latin America (Mexico, Brazil, Rest of Latin America) Market Size & Y-O-Y Growth Analysis
  • Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size & Y-O-Y Growth Analysis
  • Asia-Pacific (China, India, Singapore, Japan, Australia & New Zealand & Rest of Asia) Market Size & Y-O-Y Growth Analysis
  • Middle East and North Africa (MENA) Market Size & Y-O-Y Growth Analysis
  • Rest of World  Market Size & Y-O-Y Growth Analysis

Segmentation

  • By Type Market Size & Y-O-Y Growth Analysis
  • By Material Market Size & Y-O-Y Growth Analysis
  • By Demography Market Size & Y-O-Y Growth Analysis
  • By Distribution Channel Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

                       


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