Global Travel and Business Bags Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2018–2027
“Global Travel and Business Bags Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz. The global travel and business bags market report has been segmented on the basis of product type, sales channel, application, and region.
Global Travel and Business Bags Market: Overview
Travel and business bags mainly used to carry different, necessary things which is required for business and personal purpose, while traveling from one location to another location.
Global Travel and Business Bags Market: Dynamics
Increasing travel and tourism and rising number of business travelers across the globe are major factors expected to drive the growth of the global travel and business market over the forecast period. In addition, increasing urbanization and rising consumer inclination towards luxury and advanced bags for travelling which are equipped with Bluetooth enabled lock, USB port, and GPS tracker system are important factors fueling growth of the target market.
Growing trend of advanced travel and business bags across the globe and increasing demand for strong and designer, light weighted bags among individuals are key factors expected to boost the growth of the global travel and business bags market during the forecast period. Also, changing lifestyle, increasing living standard, and increasing industrialization are important factors expected to support for the growth of the global market in the next few years. Increasing product development and advancement in travel and business bags by manufacturers is another factor estimated to propel growth of the target market in next 10 years.
However, increasing raw material cost and increasing unorganized business competition are some factors expected to hamper growth of the global travel and business bags market to a certain extent.
Global Travel and Business Bags Market: Segmental Analysis
On the basis of product type, duffel bags segment is expected to register highest CAGR over the forecasted period, owing to increasing awareness among the individuals about the multiple benefits of the duffel bags such as easy accessible pockets, lightweight for easy movements, suitability for elderly persons.
On the basis of sales channel, online sales channel segment is estimated to account for a significant share in terms of revenue in the global travel and business bags market, owing to increasing consumer’s preference towards the online purchasing due to various factors such as availability of easy price comparison between various products, attractive discounts, free shipping, easy exchange and return, and on-time delivery provided by the online channels to the consumers.
Global Travel and Business Bags Market: Regional Analysis
The market in Europe dominates in the global market in terms of revenue followed by the market in the North America, owing to the high demand for travel and business bags due to high tourist traffic across Europe. Market in Asia Pacific is expected to register a significant growth in the global market, owing to rising travel and tourism and rising disposable income of individuals in emerging countries such as China, India, and Japan in the region. Markets in Latin America, and Middle East & Africa are expected to witness moderate growth in terms of revenue, owing to increasing awareness about the various types of travel and business bags with the fashionable trends in countries in these regions.
Global Travel and Business Bags Market Segmentation:
Segmentation by product type:
- Duffel bags
- Business bags
- Suit cases
- Trolley bags
Segmentation by sales channel:
- Factory outlets
- Traditional stores
- Online sales channel
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Delsey S.A.
- LVMH Moët Hennessy Louis Vuitton S.E.
- Safari Industries (India) Limited
- Samsonite International S.A.
- VIP Industries Limited
- Wildcraft India Private Limited
- Alfred Dunhill, Ltd.
- United States Luggage Company, LLC
- Targus, Inc.
- Rimowa GmbH
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