Travel Business Bags Market Size Report, Industry Share, Analysis, Growth, 2032

Travel Business Bags Market Insights

According to a report from Zion Market Research, the global Travel Business Bags Market was valued at USD 26.82 Billion in 2023 and is projected to hit USD 53.85 Billion by 2032, with a compound annual growth rate (CAGR) of 7.2% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Travel Business Bags Market industry over the next decade.

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Travel Business Bags Market: 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 on the journey to another. These products are produced from textiles, jute, leather, and coated clothes. Moreover, travel business bag 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.

Travel Business Bags Market: Growth Dynamics

The rise in globalization in emerging nations is anticipated to translate into humungous growth for the travel business bags industry over the forecast timespan. In addition to this, a prominent bulge in road & rail commuters coupled with an increase in the number of flyers will leverage the expansion of the travel business bags market size in the next couple of years. Other factors driving the market growth include a rise in immigration activities, favorable travel policies, and innovations in product design.

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The need for enhancing the functionality and quality of the product will raise product penetration across the globe, thereby driving 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 the 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.

Travel Business Bags Market: Report Scope

Travel Business Bags Market: Regional Landscape

North America To Make Sumptuous Contributions Toward Overall Market Revenue By 2032

The growth of the travel business bags industry in North America over the assessment period can be attributed to the production of high-end designer bags in the countries such as the U.S. In addition to this, new luggage designs and the production of smart bags embedded with GPS & adjustment suppleness in the developed countries of North America will prompt market penetration across the sub-continent in the upcoming decade. Additionally, the 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.

Travel Business Bags Market: Competitive Space

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
• 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