Travel Bags Market Growth, Trends, Absolute Opportunity and Value Chain 2016-2026

With the global travel and tourism industry providing a strong impetus to allied sectors, the travel bag segment will continue to account for the largest revenue share in the global luggage market. According to FMI’s recent research, the market will experience sustained growth throughout the forecast period 2016-2026. U.S., Middle East, and APAC will exhibit the highest growing potential during the forecast period. While U.S. will remain key market in terms of global sales, China will remain a formidable region in APAC.

The 2007-08 financial recession had impacted the world tourism industry for a long haul, which also held a negative aftermath on the luggage market. However, following the resurgence of the global economy, the travel and tourism industry has recovered and the demand for travel bags is also witnessing steady growth.

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Key Drivers for Market Growth

The growing globalisation trend has led most of the emerging economies to witness a sprint in sales of consumer products sector, and sales of travel bags and accessories have also witnessed an uptick. Increase in the number of road and rail travelers, along with increasing frequency of flyers is also positively impacting the global travel bags market. Robust international travel and immigration, advancement in product design, quality, and functionality, and rising affluence of middle class population in developing nations are other key factors driving the growth of the market.

Most of the airlines have luggage weight regulations enforcement, which prompts at the growing demand for lightweight carry-on travel bags. Owing to increasing number of consumers choosing flight over road or rail journey, manufacturers are concentrating more on production of lightweight and ultra-lightweight travel luggage with hard side material.

Possible Restraints

Leading industry brands continue to maintain a strong hold...