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    Travel And Business Bags Market Report

    Travel And Business Bags Market Report
    Report code - SR1406 Delivery - 2 Weeks
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    Travel and Business Bags Market Trends, Dynamics & Market Insights
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    Impact of COVID-19 on Travel And Business Bags Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Travel And Business Bags Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    The Travel and Business Bags Market is projected to grow from USD xx billion in 2020 to USD xx billion by 2026 at a CAGR of over 7.2% during the forecast period.

    Figure: Travel and Business Bags Market Size, 2020-2026 (USD Billion)

    Travel-and-Business-Bags-Market-Forecast

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    What are travel and business bags?

    Travel and business bags are considered as one of the convenient commodities as it accommodates all the necessary items such as daily use articles, clothes, important documents, electronic gadgets, and other essentials while traveling from one place to another. Travel and business bags are produced from various types of materials such as jute, textile, coated fabrics, and leather.

    Key Players

    Key players operating in the travel and business bags market are-

    • Delsey (France)
    • Louis Vuitton (France)
    • Safari industries (India)
    • Samsonite International (Hong Kong)
    • VIP industries (India)
    • Wildcraft India (India)
    • Aldo (Canada)
    • Alfred Dunhill (UK)
    • Boconi (Italy)
    • BottegaVeneta (Italy).

    Market Dynamics

    The travel and business bags are widely augmented by the rise in economic standards of the people over the years, increasing industrialization, and growing consciousness towards tourism and fashion among the population across the globe. In addition, the surge in income among the consumers along with inclination towards proper lifestyle and entertainment enhancements are resulting in the shift in consumer preference towards different brands of travel and business bags. However, the increasing number of counterfeit products as well as growing unorganized sectors are likely to hinder the industry growth.

    Segments' Analysis

    Type Trends

    By type, the travel and business bags market has been segmented into backpacks, duffel bags, business bags, trolley bags, and suitcases. Under these, the trolley bags segment accounted for the largest market share in 2020. The segment growth can be attributed to their benefits as they are light in weight, consist of easily accessible pockets, are appropriate for the elderly population, are well placed with special handles, and have spinner wheels for easy movement.

    Regional Trends

    By region, the market in North America accounted for a significant market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the high product adoption rate and presence of key market players such as in the region. The market in developing regions is expected to register significant CAGR during the review period on account of the growing tourism industry coupled with the rising per capita income of the consumers.

    COVID-19 Impact on Travel and Business Bags Market

    The COVID-19 outbreak negatively impacted the growth of the travel and business bags market negatively. Entertainment and travel & tourism sectors were hit significantly amid the pandemic. Most governments have enforced lockdown in their countries to curb the spread of the pandemic. This in turn affected the product demand significantly amid the pandemic.

    Critical Questions Answered in the Report

    • What are the key trends in the travel and business bags market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the travel and business bags market?
    • What are the key strategies adopted by the major vendors to lead in the travel and business bags market?
    • What is the market share of the top vendors?

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    Target Audience

    Here is the list of the group of customers that the travel and business bags market hopes to have the greatest opportunity to convert-

    • Travel and Business Bags distributors
    • Travel and Business Bags suppliers
    • Travel and Business Bags manufacturers
    • Logistics organizations
    • Government bodies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The travel and business bags market is expected to witness an impressive growth of 7.2% CAGR in the coming years.

    Delsey (France), Louis Vuitton (France), Safari industries (India), Samsonite International (Hong Kong), VIP industries (India), Wildcraft India (India), Aldo (Canada), Alfred Dunhill (UK), Boco-ni (Italy), and BottegaVeneta (Italy) are among the key players in the travel and business bags market.

    Rise in economic standards of the people over the years, increasing industrialization, and growing consciousness towards tourism and fashion among the population across the globe are the factors driving the growth of travel and business bags market.

    The trolley bags segment accounted for the largest share in the travel and business bags market in 2020.

    North America is expected to grow at a significant CAGR in the travel and business bags market in the coming years.

    Travel and Business Bags distributors, Travel and Business Bags suppliers, Travel and Business Bags manufacturers, Logistics organizations, Government bodies are the target audience in the travel and business bags market.

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