A recent report published by Infinium Global Research on travel bag market provides in-depth analysis of segments and sub-segments in the global as well as regional travel bag market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional travel bag market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global travel bag market. According to the report, the global travel bag market is projected to grow at a CAGR of 6.6% over the forecast period of 2019-2025.
Leading companies are focusing on innovation to attract the majority of the customers. Companies are investing in research and development to better understand consumer demand and market trend. Key brands in travel bags are aiming at maintaining a stronghold in an established market. The presence of a wide range of domestic brands acquires a major market share. The major players in the global travel bag market are adopting strategies such as mergers, acquisitions, and new product launches to maximize the organization’s profit.
The growing travel and tourism industry drives the growth of the travel bag market. The rising urbanization and changing lifestyle contribute to the growth of the travel bag market. People nowadays often travel for business meetings, picnic with family and friends that propel the growth of the travel bag market. The rising demand for innovative and attractive products boosts the growth of the travel bag market. On the other hand, the risk of fake products hampers the growth of the travel bag market. There are a number of players in the travel bag market. The increasing problem of imitating branded products hinders the growth of the travel bag market. Moreover, the new trendy smart and lightweight bags create numerous opportunities for the growth of the travel bag market.
Geographically, the global travel bag market is segmented into North America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific region is anticipated to be dominant in the global travel bag market. The growing travel and tourism industry in the Asia-Pacific region contributes to the growth of the travel bag market in the Asia-Pacific region. In addition, the presence of major players in the Asia-Pacific region stimulates the growth of the travel bag market in the Asia-Pacific region. North America is expected to grow in the global travel bag market with a healthy CAGR over the forecast period. Europe is projected to grow in the global travel bag market.
The report on global travel bag market covers segments such as luggage type, material type, price range, and distribution channel. On the basis of luggage type, the sub-markets include duffle, trolley, and backpacks. On the basis of material type, the sub-markets include hard side, and soft side. On the basis of price range, the sub-markets include premium, medium range, and low range. On the basis of distribution channel, the sub-markets include supermarkets, online channels, and other distribution channels.
The report provides profiles of the companies in the market such as Delsey SA., TGHI, Inc., VIP Industries Ltd, Samsonite International S.A., ACE Co. Ltd., United States Luggage Company, LLC, LVMH Group, Travelpro Products, Inc., Rimowa GmbH, Kering S.A., and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of travel bag market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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