Market Research News Global Travel Bag Market | Page 2

The global travel bag market is segmented into product type such as backpack,
duffle bag and trolleys. In terms of revenue, duffle bag segment dominated the
global travel bags market in 2014. Further, duffle bags are very light in weight
and offer a large room for stuffs. Further, availability of a variety of styles and
sizes of duffel bags are escalating the growth of this segment. Apart from this,
trolleys segment is likely to grow at maximum CAGR over the forecast period.
Global travel bag market is expected to register a CAGR of 5.8% over the forecast
period. Moreover, the global travel bag market was valued at USD 30,969 Million
in 2014 and is expected to reach at notable revenue of USD 43,358 Million by the
end of 2020. Factors such as, increasing disposable income and swelled spending
of the consumers are escalating the growth of global travel bags market across the
globe. Furthermore, increasing brand awareness amongst the population is
fuelling the demand for branded travel bags which in turn expected to bolster the
growth of travel bag market.
The supermarkets/department stores/hypermarkets segment by distribution
channel accounted for major shares in 2014. Availability of required assistance in
supermarkets, department stores and hypermarkets is a key factor which is why
consumer’s
preference
is
increasing
for
supermarkets/department
stores/hypermarkets. Apart from this, increasing penetration of smart phones
and other connected device and consumers inclination towards e-shopping are
likely to drive the growth of online stores at maximum CAGR over the forecast
period.
Growing Tourism Industry
Large base of millennial with high disposable income and their inclination
towards travels and tourism are likely to increase the demand for travel bags
across the globe. Further, rapid emergence of new tourism trends such as food
tourism, adventure trips and solo travel are fostering the growth of tourism
industry which in turn expected to increase the sales of travel bags in near future.
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Globalization
Increasing population immigration is a key factor behind increased international
travels across the globe. Furthermore, global mobility and ease of travel due to
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