Travel Bags Market: Global Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Product Types, Materials, Distribution Channels, and Region.

Travel Bags Market Overview                                        

Travel bags are essential for explorers, trekkers, tourists, and travelers to carry their belongings. The market offers various types of travel bags, including duffel bags, wheeled backpacks, rolling luggage, weekenders, totes, and travel packs. Hard-side bags are suitable for carrying fragile products and electronic gadgets, and they are made of polypropylene, polycarbonate, and acrylonitrile-butadiene-styrene (ABS). Soft-side bags are lightweight and durable, and they are made of nylon, polyester, cotton, leather, and vinyl.

These bags come in various sizes, patterns, and colors, and can be customized as per the consumer’s requirements. The travel and tourism industry, including medical tourism, has experienced significant growth, which has led to an increase in demand for travel bags. Business travelers also contribute to the demand for travel bags, especially backpacks, and trolleys. The global travel bag market is expected to grow driven by an increase in urbanization, changes in lifestyle, and demand for innovative products such as polycarbonate luggage. The rise in purchasing power of middle-class households, particularly in developing regions, is expected to create more demand for premium and fashionable travel bags. Technological advancements, such as the development of smart luggage with GPS trackers, are also projected to expand the growth of the overall market during the forecast period.

The Travel Bags Market is expected to boom, with new advances and accessibility of air travel, the global Travel bags Market has renovated itself by offering small lightweight, colorful, and stylish bags that cater to the various needs of travelers. The growing travel and tourism industry, rise in migration of population, and increasing disposable income are fuelling the growth pace. Discount selling, comfort, replacement of bags, and convenience in choice through e-commerce are identified as key trends in the market. People are traveling due to the rise in their disposable incomes. This has opened the doors for new prospects for market players. The increase in demand for bags & containers is directly proportional to the growth of the travel and tourism industry. The worldwide travel and tourism business has seen substantial expansion in recent years. The tourism business is currently one of the world's fastest-growing and most diverse sectors. Countries such as China, the U.S., Spain, and Germany among others have high outbound tourism. Furthermore, women's spending on luxury travel has increased dramatically in recent years, thereby supporting market growth.

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Travel Bags Market Dynamics:                                                    

Technological Advancement Driving Bags Sales Boost to Market:

The major players in the Travel industry are expected to introduce new technologies and fashion trends in luggage bags. The market will benefit from the introduction of various sizes and designs of casual, travel, sports, business, anti-theft, foldable, and laptop bags. Smart bags, which include features such as a digital locking system controlled by a smartphone, a USB port for charging devices, a GPS tracking system, an integrated removable battery, smartphone, and Bluetooth connectivity, an LED light system, an alert system, increased compartments for a particular item, 360-degree wheels, water-resistant material, convertible seat bags, convertible kick-style scooter bags, a bags box, and replacement batteries, is gaining popularity and is expected to take bags sales to the next level. Smart bags have set the standard for existing products.

Travel Bags Market Restraints:

Rising Growth of Travel Bags Markets:

The unorganized travel bags market in developing nations is predicted to pose a significant challenge for the organized sector. Unorganized market participants usually sell goods identical to those of global unorganized market participants and offer them at lower prices to avoid spending money on R&D, premium raw materials, advertising, and branding. The majority of buyers are people with medium or low incomes who prefer goods of comparatively lower quality. As a result, unorganized market players are thriving while organized market players are losing potential customers in the global travel bags market. This trend is expected to restrain the expansion of the worldwide travel bag industry in the years to come.

Travel Bags Market Opportunities:                                                            

Increasing Competition and Decreased Travel Frequency to the Markets:

Travel bag manufacturers face challenges due to the availability of local, relatively cheaper brands and fluctuations in the tourism sector. The COVID epidemic caused a complete shutdown of tourism for almost a year, severely impacting travel luggage and other tourism-related industries. Although the pandemic is over, the repercussions of lockdown are still present, as people opt for remote locations or local travel due to fear of crowded regions, causing a decline in demand for travel bags. Local supplier competition is another issue that travel bag manufacturers deal with, as new companies are joining the market due to regional development, selling bags that are reasonably priced and of good quality. Some locally produced companies attempt to copy popular national brands and sell them for less money, leading to negative impacts on the travel bags market.

Travel Bags Market Segment Analysis:

Based on the Product Types, The travel segment dominated the Travel Bags Market in the year 2023 & is expected to continue its dominance during the forecast period. The travel bags market is categorized into travel, hiking or camping, and other segments. The travel segment has the largest market share due to its design, which includes several compartments and pockets to store electronic gadgets, passports, water bottles, and other items. The rise of innovation in camping/trekking backpacks, including designs, material quality, and others, has attracted many individuals and made the market competitive, further driving the market growth. The availability of smart backpacks, recreation bags, and consumer-centric designs has made it easy to organize luggage while traveling. The travel segment's growth has been driven by an increase in spending on travel and tourism goods worldwide as restrictions have eased, which saw a recovery growth rate of 21.7% in 2023. The staycation or workstation trend saw a rise in 2023 due to international travel restrictions, and most of the workforce was working from home, with the normalization of remote work leading individuals to build workstations at home.  

Based on the Material, The nylon segment dominated the Travel Bags Market in the year 2023 & is expected to continue its dominance during the forecast period. The travel bags market is segmented into nylon, polyester, and others based on material. The nylon segment dominates the global market and is expected to grow at a significant CAGR during the forecast period. Nylon, a family of synthetic polymers, is a waterproof and highly durable material that can withstand rugged terrains without any damage. Its adaptability to be made into fibers, films, and more make it a widely used material among manufacturers like Samsonite IP Holdings SARL, Under Armor, and Adidas. Ripston nylon is used to manufacture sturdier, anti-theft, and waterproof bags, which are popular among consumers. The lightweight nylon backpacks have gained popularity among travelers and trekkers due to changing individual lifestyles, working patterns, traveling patterns, and growing recreational activities.

Based on the Distribution Channels, The offline channel segment dominated the Travel Bags Market in the year 2023 & is expected to continue its dominance during the forecast period. The travel bag market is segmented into online and offline channels based on distribution. The offline channel segment has the highest market share and includes hypermarkets/supermarkets, specialty stores, and others. Hypermarkets/supermarkets offer a wide range of brands under one roof and are located near residential areas for convenience and easy accessibility. Offline stores sell various bags such as work bags, sports, travel, hiking/trekking, school, and casual backpacks from manufacturers. These products are arranged on shelves by category and have placards showing product details and prices.

Travel Bags Market Regional Insights:                                                                                        

The North American region dominated the Travel Bags Market in the year 2023 & is expected to continue its dominance during the forecast period. North America holds the highest backpack market share due to a higher rate of domestic or international travel by individuals for work, education, or casual trips. The higher disposable income of individuals and the presence of top infrastructure facilities for travel & tourism, schools, and universities in the US and Canada make travel convenient, further fueling the market growth. According to the US Department of Education, around 49.5 million students were enrolled in public schools in prekindergarten in 2023 fall, compared to 49.4 million students in 2023, while 19.4 million students attended post-secondary institutes in the fall of 2023. The North American travel & tourism industry contributed USD 1,781 billion in 2021, according to the World Travel & Tourism Council. The Asia Pacific region is expected to grow at a significant CAGR during the forecast period due to the rising popularity of solo trips and road trips in developing countries such as India and China, and increased consumer preferences for smart backpack products.   

Travel Bags Market Scope

Travel Bags Market Key Players:-

1. ACE CO., LTD,
2. DELSEY S.A
3. VIP INDUSTRIES LIMITED
4. UNITED STATES LUGGAGE COMPANY, LLC,
5. LVMH GROUP
6. SAMSONITE INTERNATIONAL S.A,
7. TRAVELPRO PRODUCTS, INC
8. TGHI, INC
9. KERING
10. RIMOWA GMBH