Travel Bag Market By Material Type (Hard side, Soft side) , By Luggage Type (Duffle, Trolly, Backpacks) By Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Factory Outlets, Online Stores, Others) By Price Range (Premium, Medium, Low) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Travel Bag Market
The travel bag market was valued at $24.0 billion in 2023 and is projected to reach $48.3 billion by 2033, growing at a CAGR of 7.3% from 2024 to 2033.
A travel bag is a storage solution designed to carry belongings during trips. They exist in different shapes and functionalities that cater to diverse requirements, including trolley bags, travel packs, duffel bags, daypacks, and messenger bags. Correct choice of the bag depends on travel duration, luggage quantity, and personal style.
Increase in globalization and rise in disposable income has boosted travel & tourism for leisure, business, or adventure. This fuels the demand for diverse varieties of travel bags and propels the growth of the market. In addition, upsurge in popularity of travel bags as a reflection of personal style drives the market development. A notable trend acquiring popularity in the travel bag market is the integration of technology for users to stay connected. These bags typically come equipped with USB ports to charge devices and in-built GPS to track location. Moreover, radio frequency identification-blocking anti-theft technology, weight sensors, integrated scales for easy lifting, water resistance, and Bluetooth connectivity are other ingenious features that enhance the functionality of travel bags.
However, extended lifespan of advanced travel bags reduces the requirement for frequent replacements, hampering the development of the market. Furthermore, the presence of numerous brands & bag types leads to stringent competition and market saturation, restraining the development notably. On the contrary, rise in awareness pertaining to sustainability has presented lucrative opportunities for manufacturers to develop bags with eco-friendly materials. The usage of recycled leather, nylon, & polyester and biodegradable materials is gaining prominence among brands to develop a segment of sustainable travel bags. Several popular brands such as Samsonite, Patagonia, and Eagle Creek have paved the way for innovative, eco-friendly travel bags.
Segment ReviewThe travel bag market is segmented into material type, luggage type, distribution channel, price range, and region. On the basis of material type, it is bifurcated into hard side and soft side. Depending on luggage type, it is divided into duffle, trolly, and backpacks. As per distribution channel, it is classified into supermarket/hypermarket, specialty stores, factory outlets, online stores, and others. By price range, it is categorized into premium, medium, and low. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of material type, the soft side segment dominated the market in 2023.
Depending on luggage type, the duffle segment held a high share of the market in 2023.
As per distribution channel, the specialty stores segment acquired a high stake in the market in 2023.
Region wise, Asia-Pacific was the highest revenue generator in 2023.
Competition AnalysisThe leading players operating in the global travel bag market include Delsey, VIP Industries Limited, TGHI, Inc., Samsonite, Ace Co. Ltd., U.S. Luggage Company, LVMH Group, Travelpro Products, Inc., Rimowa GmbH, and Kering SA. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy Material TypeHard side
Soft side
By Luggage TypeDuffle
Trolly
Backpacks
By Distribution ChannelSupermarket/Hypermarket
Specialty Stores
Factory Outlets
Online Stores
Others
By Price RangePremium
Medium
Low
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Thailand
Malaysia
Indonesia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Argentina
Rest of LAMEA
Key Market PlayersDelsey SA.
VIP Industries Limited
TGHI, Inc.
Samsonite
Ace Co. Ltd.
U.S. Luggage Company
LVMH Group
TRAVELPRO PRODUCTS, INC
Rimowa GmbH
Kering SA