About Travel And Business Bags
Travel And Business Bags which is in short known as the Luggage, is an integral part of the activities related to travel & tourism. Travel And Business Bags are refer as a bag which are been used to carry several stuff for business and personal purpose. Inclination of global population has been increasing towards travel and adventure activity, which has been proved beneficial for the industries such as travel & tourism, and, in turn, for industries which are been involved in the manufacturing of related travel gear such as luggage
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Travel And Business Bags is highly competitive, with several key players dominating the industry. The market players are focused on developing a variety of features and benefits to meet the needs. Thus, constantly introducing new innovation in processing to meet the changing needs and preferences of consumers. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Travel And Business Bags market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Delsey (France), Louis Vuitton (France), Safari industries (United States), Samsonite International (China), VIP industries (India), Wildcraft India (India), Aldo (Canada), Alfred Dunhill (United Kingdom), Boconi (United States), BottegaVeneta (Italy), Caribee (Australia), Ferari (Italy), Gianni Versace (Italy), Richardo Beverly Hills, IT Luggage (England), Mandarina Duck (Italy), Pierre Cardin (South Africa), Prada (Italy) and Puma (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Ralph Lauren (United States), Russel & Bromley (United Kingdom), Donna Karan International (United States) and Adidas (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Travel And Business Bags market by Type (Backpacks, Business bags, Duffel bags, Suitcases and Trolley bags) and Region.
On the basis of Type, Trolley bags are dominating the market in the year 2022On the basis of geography, the market of Travel And Business Bags has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Supermarket/hypermarket will boost the Travel And Business Bags market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Hard side will boost the Travel And Business Bags market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Prize range, the sub-segment i.e. Premium will boost the Travel And Business Bags market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Development in smart luggage with the GPS system tracker has been increasing and Use of social media by retailers in doing promotion is in demand
Market Growth Drivers:
Increase in travel and tourism has impacted the demand for travel bags, Changing lifestyle of growing urbanization and Product innovation such as polycarbonated luggage is further expected to impel the global in market
Challenges:
Unorganized players in the large markets in developing countries poses the greatest challenge for the organized luggage market and Increased raw material cost needed for the manufacturing of the product
Restraints:
Popularity of mom-and-pops stores and High cost associated with the product market
Opportunities:
Purchasing power of middle class households in developing regions is creating more demand for premium and fashionable travel bags
Market Leaders and their expansionary development strategies
In November 2023, Samsonite International S.A. announced result of three and nine months ended September 2023, a leader in the global lifestyle bag industry and world best known and largest travel luggage company.
In April 2023, Think tank launched a refreshed brand identity with a new focus on travel luggage leading off with the tagline. Think tank is expanding their focus to now include new line of travel luggage.
The U.S. Customs and Border Protection (CBP) and the Federal Trade Commission (FTC) enforce labeling laws and acts in the United States. In general, textile and apparel products sold in the United States must be labeled with the following information: the fiber content, the country of origin, the manufacturer or dealer identity, and the care instructions
Key Target Audience
Travel And Business Bags manufacturers, Travel And Business Bags suppliers, Travel And Business Bags wholesalers and retailers, Travel And Business Bags raw material suppliers and providers, Luggage industry and End user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.