Rising trend of fashionable and modular travel bags are boosting the growth of global travel bags market. Airlines have limitations and regulations for luggage weight thus people are more inclined towards light weighted travel bags. Light weight bags not only help the customers in fulfilling the luggage weight limit but also provide comfort while travelling. Moreover, increasing demand for travelling and adventurous sports are expected to boost the market for light weighted, strong and designer travel bags. Making travelling altogether a different experience is the main focus of leading market players. Recently introduction of Modobag by Indiegogo has bought the revolution in entire luggage bag industry. Apart from trendy design Modobag is embedded GPRS-GSM tracking and dual USB charging port. Moreover, one can ride these bags on bike making it more efficient and easily transportable. Moreover, Hop or Spacecase designed by NUA robotics aims to make travelling more comfortable. These smart bags are equipped with bluetooth technology and camera sensors and are designed as self-carried luggage bags.
Acquisition of smaller and domestic brands by leading players helps key vendors to expand their profit margin and to make an exceptional presence in the global market. Samsonite’s acquisition of companies such as Tumi, Gregory Mountain Products, Speck and Liapult became a revolution for travel bags market. Leading industry players are also investing in marketing and R&D to manufacture innovative, lighter, stronger and cost effective products. In 2016, Samsonite invested USD 25.4 million in R&D for the development of innovative travel bags.
Global Travel Bags Market is categorized on the following basis:
• Based on Price-Range
o High-Price Range
o Medium-Price Range
o Low-Price Range
• Based on Types of Travel Bags
o Trolley Bags
o Duffle Bags
• Based on Distribution channel
o Online Distribution Channel
o Offline Distribution Channel
• Based on Geography
o North America
o Latin America
o Middle East & Africa
o Rest of World
The global travel bag market valued USD 33.10 billion in 2016 and is estimated to reach over USD 53.16 billion in 2024, growing at a CAGR of 6.1% during the forecast period.
Geographically, North America is acquiring the largest market share of travel bags followed by Europe. Europe has a top-line growth in fashionable travel bags across the globe. Europe travel bags market valued USD 8.74 billion in 2015 and is projected to grow at a CAGR of 7.0% during the forecast period.
Latin America is also focusing on tourism and
Market Drivers and Challenges
Tourism and travel industry is growing at a very faster rate resulting in
Growing domestic brands and availability of
Key Market Players
• Samsonite International
• VIP Industries Ltd.
• United States Luggage Company (LLC)
• Shanghai Fochier International
• Louis Vuitton
• VF Corporation
• Ace Co. Ltd.
The Global Travel Bags Market is segmented as follows:
• By Price Range (Market Size, Demand Analysis
• By Travel Bags Type (Market Size, Demand Analysis
• By Distribution Channel (Market Size, Demand Analysis
Market Dynamics: Growth Drivers, Restraints and Opportunities
• Risk Factors
• Regional Variations
• Recent Trends and Developments
Category: Business Services Market Research
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