Travel bags mainly consist of bags, cases or containers which are used to carry travelers belonging while traveling. Various factors that are expected to increase the demand for travel bags are increasing travel and tourism, growing urbanization, busy lifestyle and also growing demand for products such as polycarbonated luggage. The significant increase in the travel and tourism sector promotes the demand for different types of travel bags. Additionally, growing movement of travelers further fuels the demand for travel bags such as trolleys and backpacks.
Market Size and Forecast
The global travel bag market was valued at USD 37 Billion in 2017, and is anticipated to reach USD 46 Billion by 2027. The global travel bag market is expected to witness CAGR of 6.5%. There is significant growth in the travel and tourism sector which also include medical tourism on the account of the increasing demand for different types of travel bags. Additionally, the continuous movement of business travelers is another factor anticipated to fuel the market growth of travel bags over the forecast period.
The global travel bag market is segmented on the basis of material, luggage, price range, distribution channel and region. On the basis of material the global travel bag market is segmented into hard side and soft side. Soft sided travel bag is expected to be the dominating segment during the forecast period. Hard sided travel bag is expected to witness significant growth during the forecast period on the back of the introduction of materials that are light in weight. On the basis of luggage type the global travel bag market is segmented into duffle, trolley, and backpacks. Backpack segment is expected to dominate the global travel bag market .This is attributed to the fact that they are relatively easier to carry. On the basis of price the global travel bag market is segmented into different price range, which includes premium price range, medium price range and low-price range. Based on distribution channel global travel bag market is segmented into supermarket and hypermarket, specialty stores, factory outlets, online stores. Rising consumer preference to purchase travel bags through online stores owing to the high availability of different bags is anticipated to drive the travel bag market globally. On the basis region, Asia Pacific is anticipated to witness highest growth on the account of the increasing urbanized population coupled with high disposable income of consumers. In Asia Pacific, China is expected to contribute maximum market share on the back of the high disposable income of consumers.
Our in-depth analysis segmented the Global travel bag market in the following segments:
By Material Type
By Luggage Type
By Price Range
By Distribution Channel
Global travel bag market is further classified on the basis of region as follows:
Growth Factors and Challenges
Increasing urbanization coupled with rising number of passengers is driving the market growth of travel bag across the globe. Additionally, busy lifestyle of customers coupled with high online purchases is also expected to have positive impact on the global travel bag market. Moreover, rising disposable income of consumers, increasing number of air travellers, development in product design are other key factors driving the growth of the travel bag market. One of the major restraining factor is the emergence of small players that offer varied range of travel bag.
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