Travel Business Bags Market Size, Share, Growth Report 2030

Market Overview

The global Travel Business Bags market accrued earnings worth approximately 1.8 (USD Billion) in 2019 and is predicted to gain revenue of about 3.1 (USD Billion) by 2026, is set to record a CAGR of nearly 7% over the period from 2020 to 2026. The report offers assessment and analysis of the Travel Business Bags market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

Introduction

Travel Business Bags are convenient products that accommodate all necessities including fabrics, vital documents, electronic items, routine articles, and other key items and can be carried from one place of journey to others. These products are produced from textiles, jute, leather, and coated clothes. Moreover, travel business bags producers are involved in constant research activities for producing new kinds of these products that are durable and possess superior abrasiveness & stain protecting features. In addition to this, the robust compartment of travel business bags can accommodate pens, laptops, key & confidential documents, other tiny electronic items, pens, and travel documents.

Report Scope

Market Growth Dynamics

The rise in globalization in the emerging nations is anticipated to translate into humungous growth for travel business bags industry over the forecast timespan. In addition to this, a prominent bulge in road & rail commuters coupled with increase in the number of flyers will leverage the expansion of travel business bags market size in the next couple of years. Other factors driving the market growth include rise in immigration activities, favorable travel policies, and innovations in product design. Need for enhancing the functionality and quality of the product will raise the product penetration across the globe, thereby driving the market trends. Thriving fashion & tourism activities and changing lifestyles & entertainment preferences will further steer the market value in the near future.

Furthermore, a large number of airlines have strict luggage weight laws and this will further promulgate the market demand. With surge in the number of travelers preferring air travel over rail & road journey, the market for travel business bags are likely to gain traction over the forthcoming years. Nonetheless, product counterfeiting can pose a major challenge to the growth of the market over the ensuing years.

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North America To Make Sumptuous Contributions Towards Overall Market Revenue By 2026

The growth of the travel business bags industry in North America over the assessment period can be attributed to production of high-end designer bags in the countries such as the U.S. In addition to this, new luggage designs and production of smart bags embedded with GPS & adjustment suppleness in the developed countries of North America will prompt the market penetration across the sub-continent in the upcoming decade. Additionally, humungous popularity of travel business bags devised for reducing shoulder, neck, and back pain will further create new demand for the product in the region over the years to come.

Key players profiled in the report include Samsonite Company Stores, United States Luggage Company (LLC), Ace Co. Ltd., Targus Group International Inc., Rimova, Delsey SA, Crown, VIP Industries Ltd., Andiamo, Pathfinder, Lucas, Ciao, Shanghai Fochier Intel’ Co. Ltd., Tumi, Travelpro International Inc., Antler, New Travel Sports Co. Ltd., Eagle Creek, United States Luggage Company, and Everest.

The global Travel Business Bags Market is segmented as follows:

By Material Type

• Hard Side
• Soft Side

By Luggage Type

• Duffle
• Trolley
• Backpacks

By Price Range

• Premium
• Medium
• Low

By Distribution Channel

• Supermarkets/Hypermarkets
• Specialty Stores
• Factory Outlets
• Online Stores
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa