The North America travel bags market is expected to be valued at USD 15.28 billion by 2025, according to a new report by Grand View Research, Inc. The increasing air passenger traffic domestically and growing trend of family trips over weekends, driven by rising disposable incomes, in the region.
In recent years, economic stability and the resultant rise in disposable incomes of the population have led to growth of the travel & tourism industry in the region, with significantly growing trends of domestic travel and family vacations over weekends. The reasonable air fares for domestic travel have also led to increasing traffic of business personnel in air transport, most notably in the U.S.
The short duration of such trips has led to the demand for smaller and convenient travel goods, including bags, such as duffle bags, trolleys, and backpacks. The further growth of the travel industry in the region is expected to have significant impacts on the growth of the travel bags market during the forecast period.
Duffle bag is the largest travel bag segment in 2016 and is anticipated to register a lucrative growth rate over the analysis period. However, prepared trolley bags are anticipated to witness fastest CAGR of 7.1%, from 2017 to 2025.
The growth of duffle bag segment can be attributed to the growing traveler preferences towards this type of bags, most notably for travels of short durations, wherein the bag offers major advantages such as convenience, large packing space, and lightweight.
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Further key findings from the report suggest:
- The demand for travel bags in North America was valued at USD 9,048.9 million in 2016 and is expected to progress at a CAGR of 6.0% from 2017 to 2025. The U.S. dominated North America Travel Bags market in 2016
- Duffle bag generates the highest revenue in the market while trolley bag is anticipated to register fastest growth rate over the forecast period
- By distribution channel, supermarkets held the largest market share of 37.7% in the overall market. However, the online sales channels are anticipated to witness the fastest CAGR over the forecast period
- Market players such Delsey S.A., VIP Industries Ltd, Samsonite International S.A. and United States Luggage Company, LLC manufacture a variety of travel bags for business use and casual use. The competition among these players is very intense as they operate majorly in North America and supply all over the world while having similar product portfolios
