The travel bags industry is expected to grow at a moderate compound annual growth rate (CAGR) of approximately 8.3% over the forecast period. The global market, which generated an estimated revenue of around USD 16.9 billion in 2022, is projected to surpass USD 37.5 billion by 2032.
The global travel bags market is witnessing substantial growth due to the increasing demand for organized, durable, and stylish luggage for both leisure and business travel. With a diverse range of product offerings including backpacks, suitcases, duffel bags, and trolley bags, the market is evolving to cater to the preferences of a growing number of travelers worldwide. As consumer preferences shift towards lightweight, compact, and eco-friendly travel solutions, the industry is experiencing notable innovations in design, materials, and functionality. The market’s evolution is also fueled by the rise in global tourism, the expansion of e-commerce platforms, and the growing middle class in emerging economies.
Key Drivers
- Rising Global Tourism: With an increase in global travel, both leisure and business travelers demand better quality, more functional, and stylish travel bags.
- Growing Middle-Class Population: The expanding middle class in emerging markets such as China and India is propelling demand for travel bags.
- Advancements in Technology: The integration of features like GPS tracking, charging ports, and anti-theft designs in modern travel bags is attracting tech-savvy consumers.
- E-commerce Growth: Online retail platforms are significantly contributing to the expansion of the market, making travel bags more accessible to a broader range of customers globally.
Applications
- Leisure Travel: Consumers looking for lightweight, durable, and spacious bags for vacations, road trips, and weekend getaways.
- Business Travel: Business travelers often seek high-quality, professional-looking bags such as briefcases, trolley bags, and laptop bags.
- Specialty Bags: Luggage designed for specific activities such as sports or camping, which require specialized features like waterproofing or extra compartments.
- Eco-Friendly Luggage: As sustainability becomes a priority, eco-conscious travelers are demanding travel bags made from recycled or biodegradable materials.
Key Companies Profiled
Samsonite Company Stores; United States Luggage Company (LLC); Ace Co. Ltd.; Delsey SA, Crown; VIP Industries Ltd.; Antler; Away; New Travel Sports Co. Ltd.; Eagle Creek; Targus Group International Inc.; Shanghai Fochier Intel’ Co. Ltd.; Tumi; Travelpro International Inc.; Rimova; Everest; Others
Recent Development
- VIP bags launched a special trolley bag series in 2021, designed keeping the corporate travelers in mind. These bags are named ‘Zorro Pro’, and have some features extremely useful for business travelers. The bag has accessible laptop compartment and a compartment for suit, helping in keeping them safe and accessible when needed.
- Away luggage bags are popular among travelers, thanks to their unique design, attractive colors and features. The carry-on bags are top sellers among all the products from the brand. These bags are equipped with features like TSA approved detachable charger, smart lock and lightweight design. In 2021, they launched 8 more products, from side bags, trolley bags to laptop sleeves.
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Key Segments Profiled In The Travel Bags Market
By Material Used:
- Soft side
- Hard side
- Hybrid
By Type of Bag:
- Backpacks
- Suitcases or trolley bags
- Duffle bags
By Distribution Channel:
- Factory outlets
- Online stores
- Supermarkets
- Specialty stores
- Traditional stores
- Discounted stores
- Others
By Price Range:
- Premium
- Medium
- Budget
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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