The global travel bag market is segmented on the basis of material, luggage, distribution channel and price range. On the basis of material the global travel bag market is segmented into hard side and soft side. The hard side travel bag segment is expected to grow at healthy CAGR on the account of the introduction of new variety of hard sided travel bags. On the basis of luggage the global travel bag market is segmented into duffle, trolley, and backpacks. Backpacks segment dominate the travel bag market owing to the increasing number of travelers coupled with high demand for the backpacks among customers.
The global travel bag market is expected to grow at significant CAGR of 6.5% and is expected to reach the market of USD 46 Billion by 2027.There is significant increase in the travel and tourism sector including medical tourism on the back of increasing demand for different types of travel bags. The movement of the business travellers across the globe is also a major factor for the expansion of the global travel bag market.
By region, Asia Pacific is the dominating the global travel bag market. This is attributed to the increasing urbanization in Asia Pacific countries such as China and India. Additionally, increasing purchasing power of upper middle class population especially in developing regions is expected to drive the global travel bag market during the forecast period.
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Technological Development and Globalization is expected to bolster Global travel bags market
Increasing urbanization coupled with rising customer inclination towards high-end luggage which is equipped with global positioning system (GPS) tracker that enables recharging cell phones battery. Additionally, superior designs, textures, and trendy color combinations are expected to fuel the growth of the travel bag market. Moreover, increasing disposable income of the customers around the globe has further enhanced demand for travel bag globally. Furthermore, rapidly expanding e-commerce industry is expected to promote the market growth of travel bag globally.
The report titled “Global Travel Bag Market Analysis & Opportunity Outlook 2027” delivers detailed overview of the global travel bag market in terms of market segmentation by material type, distribution, luggage type, price range and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global travel bag market which includes company profiling of Samsonite, Osprey , VFCorporation , Victorinox , Traveler’s Choice Lowe Alpine ,Deuter ,Standard Luggage Co Timbuk2 and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global travel bag market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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