Global Travel Accessories Market Report and Forecast 2024-2032

Global Travel Accessories Market Report and Forecast 2024-2032

Global Travel Accessories Market Report and Forecast 2024-2032

Market outlook

According to the report by Expert Market Research (EMR), the travel accessories market reached a value of USD 51.2 billion in 2023. Aided by the increasing number of travellers worldwide and the growing demand for convenient and functional travel products, the market is projected to further grow at a CAGR of 6.3% between 2024 and 2032 to reach a value of USD 88.78 billion by 2032.

Travel accessories encompass a wide range of products designed to enhance the convenience, comfort, and efficiency of travel experiences. These products include luggage, travel bags, neck pillows, travel-sized toiletries, electronic gadgets, and other travel essentials. Travel accessories are essential for both leisure and business travellers, providing practical solutions for managing travel needs.

The increasing global tourism sector is driving the growth of the market. With more people traveling for leisure, business, and other purposes, the demand for travel-related products is on the rise. The expansion of the middle-class population, higher disposable incomes, and the growing trend of experiential travel are significant factors contributing to this trend. As more individuals prioritise travel and exploration, the market for travel accessories continues to expand which leads to travel accessories market growth.

Additionally, the rising demand for convenient and functional travel products is a major factor contributing to the growth of the market. Modern travellers seek products that offer practicality, durability, and ease of use. Travel accessories that provide multiple functionalities, such as multi-compartment bags, portable chargers, and compact travel kits, are highly popular. This trend is driven by the need to streamline travel experiences and reduce the hassle associated with packing and managing travel essentials.

The expanding applications of travel accessories across various travel segments also play a significant role in propelling the market. Business travellers, for instance, require accessories that cater to their specific needs, such as laptop bags, travel organizers, and noise-cancelling headphones. Adventure travellers, on the other hand, seek durable and rugged accessories like hiking backpacks, travel locks, and waterproof gear. The diverse requirements of different traveller segments contribute to the broadening of the travel accessories market.

As per the travel accessories market analysis, North America travel accessories is driven by the high disposable incomes and the strong presence of the tourism sector in the region. The United States, in particular, is a key contributor to the market growth, owing to the widespread use of travel accessories among both domestic and international travellers. The increasing number of business travellers and the growing trend of short trips and weekend getaways are further boosting the market in North America.

Europe is also a prominent region in the respective market, with countries such as the United Kingdom, Germany, and France leading the way. The well-established tourism sector and the increasing popularity of leisure travel are driving the market growth in this region. Additionally, the implementation of supportive government policies and the rising demand for eco-friendly travel products are further boosting the demand for travel accessories in Europe.

As per the travel accessories market analysis, technological advancements play a crucial role in the growth of the market. The development of smart travel accessories, such as GPS-enabled luggage, RFID-blocking wallets, and smart travel locks, is enhancing the convenience and security of travel experiences. These innovative products address the evolving needs of modern travellers, providing advanced features that improve travel efficiency and safety.

Market Segmentation

The market can be divided based on type, distribution channel, and region

Market Breakup by Type

• Travel Bags
• Electronic Accessories
• Travel Pillow and Blanket
• Toiletries
• Locks
• Others

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Speciality Stores
• Factory Outlets
• Online Stores
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global travel accessories market. some of the major players explored in the report by expert market research are as follows:

• Decathlon SA
• Adidas AG
• Nike Inc.
• VIP Industries Ltd.
• ACE Co., Ltd.
• Potpourri Group Inc.
• MCM Products USA, Inc.
• Sinox Company Ltd.
• United States Luggage Company, LLC
• VF Corporation
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.