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Add to CartGlobal Travel And Business Bags Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Product;
Travel Bags and Business Bags.By Price Range;
Medium, Low, and Premium.By Distribution Channel;
Offline and Online.By Geography;
North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031).Introduction
Global Travel And Business Bags Market (USD Million), 2021 - 2031
In the year 2024, the Global Travel And Business Bags Market was valued at USD 36,805.54 million. The size of this market is expected to increase to USD 60,406.79 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 7.3%.
The global travel and business bags market encompasses a diverse range of products tailored to meet the needs of modern travelers and professionals. Travel bags, ranging from suitcases and duffel bags to backpacks and travel totes, are designed to provide convenience, functionality, and durability for individuals embarking on journeys of various durations. On the other hand, business bags such as briefcases, laptop bags, and messenger bags cater to the organizational and style preferences of professionals, offering features such as padded compartments, multiple pockets, and ergonomic designs to facilitate the transportation of electronic devices, documents, and other essentials.
The market for travel and business bags is influenced by a multitude of factors, including changing consumer lifestyles, increasing travel and tourism activities, and the growing emphasis on corporate professionalism and mobility. As individuals lead increasingly dynamic and interconnected lives, there is a growing demand for versatile and reliable bags that can seamlessly transition between travel, work, and leisure activities. Furthermore, the rise of e-commerce platforms and digital retail channels has expanded access to a wide array of bag options, allowing consumers to browse, compare, and purchase products from anywhere, at any time, further driving market growth.
In addition to consumer preferences, technological advancements and material innovations play a crucial role in shaping the dynamics of the global travel and business bags market. Manufacturers are incorporating advanced materials such as lightweight, water-resistant fabrics, impact-resistant plastics, and RFID-blocking technology to enhance the performance, durability, and security of bags. Moreover, sustainability considerations are increasingly influencing product design and manufacturing practices, with a growing emphasis on eco-friendly materials, production processes, and recycling initiatives. As the travel and business bags market continues to evolve, innovation, customization, and sustainability will remain key drivers of competitiveness and growth for industry players.
Global Travel And Business Bags Market Recent Developments
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In December 2023, Rimowa (owned by LVMH) launched its Signature Bag Collection made from Econyl, a recycled nylon material.
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In July 2023, Louis Vuitton Malletier, a France-based luxury fashion house and company founded by Louis Vuitton that offers handbags, travel, wallets, leather goods, jewelry, shoes, watches, perfumes, accessories, and other related products, launched the Taurillon Monogram collection on the Echoing Maison runway. The collection included the Christopher backpacks, the slim Sac Plat mini, and the Keepall25.
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In April 2023, Samsonite International S.A, a leading company in the luggage and travel accessories industry that offers a wide range of products including durable and innovative luggage, business cases, backpacks, and travel accessories, launched a Luggage Trade-In campaign offer, supporting its commitment to sustainability. The company, with its local partners WWF Philippines and Envirotech, called for trade-ins of any brand or size and offered up to 35%off on Samsonite's Oc2Lite and Niarmodels.
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In June 2021, Hermès announced a new edition of its 1997 Victoria travel bag made from a leather-style textile from pineapple.
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In 2021, VIP bags launched a special trolley bag, ‘Zorro Pro’, with features extremely useful for business travelers. The bag has an accessible laptop compartment and a compartment for suits, helping in keeping them safe and accessible when needed.
Segment Analysis
This report extensively covers different segments of Global Travel And Business Bags Market and provides an in depth analysis (including revenue analysis for both historic and forecast periods) for all the market segments.
In analyzing the global travel and business bags market from 2024 to 2030, segmentation by distribution channel into offline and online avenues offers valuable insights into consumer purchasing behavior and market trends. Offline distribution channels, comprising brick-and-mortar stores, specialty retailers, department stores, and supermarkets, continue to play a significant role in the sale of travel and business bags.
These channels offer customers the opportunity for tactile experiences, allowing them to assess the quality, design, and functionality of bags in person before making a purchase. Additionally, offline channels provide immediate gratification through same-day purchases and personalized customer service, appealing to consumers who prioritize convenience and prefer traditional shopping experiences.On the other hand, online distribution channels have witnessed remarkable growth and are expected to continue expanding during the forecast period. The proliferation of e-commerce platforms, including dedicated online retailers, marketplaces, and brand websites, has transformed the way consumers shop for travel and business bags.
Online channels offer a vast array of product choices, competitive pricing, and the convenience of shopping from anywhere at any time, appealing to digitally savvy consumers seeking convenience and value. Furthermore, the rise of mobile shopping apps, social media marketing, and targeted digital campaigns has bolstered the visibility and accessibility of travel and business bags online, driving sales and market penetration across diverse demographic segments.
Global Travel And Business Bags Segment Analysis
In this report, the Global Travel And Business Bags Market has been segmented by Product, Price Range, Distribution Channel, and Geography.
Global Travel And Business Bags Market, Segmentation by Product
The Global Travel And Business Bags Market has been segmented by Product into Travel bags and Business bags.
The segmentation of the global travel and business bags market by product provides valuable insights into the preferences and needs of consumers across different segments. Travel bags encompass a wide variety of products tailored to meet the requirements of travelers, ranging from suitcases and duffel bags to backpacks and travel totes. These bags are designed to offer convenience, functionality, and durability, accommodating the packing needs of individuals embarking on journeys of various durations.
The demand for travel bags is influenced by factors such as changing travel patterns, increasing tourism activities, and evolving consumer preferences for lightweight, versatile, and stylish luggage options. As travelers seek bags that combine practicality with aesthetics, manufacturers are innovating with features such as expandable compartments, ergonomic designs, and smart functionalities to capture market share and meet the diverse needs of travelers worldwide.On the other hand, business bags cater to the organizational and style preferences of professionals, providing solutions for transporting laptops, documents, and other essentials.
Business bags encompass a range of products such as briefcases, laptop bags, messenger bags, and portfolios, designed to offer functionality, professionalism, and sophistication in corporate environments. The demand for business bags is driven by trends such as remote work, digital nomadism, and the increasing mobility of professionals, who require bags that seamlessly transition between work and travel settings. Manufacturers are focusing on incorporating features such as padded compartments, RFID protection, and sleek designs to appeal to modern professionals seeking efficiency and elegance in their business accessories.
Global Travel And Business Bags Market, Segmentation by Price Range
The Global Travel And Business Bags Market has been segmented by Price Range into Medium, Low and Premium.
Segmentation by price range is a crucial aspect of understanding the dynamics within the global travel and business bags market from 2024 to 2030. Dividing products into medium, low, and premium price ranges provides insights into consumer preferences and purchasing behavior across different market segments. The medium price range typically appeals to a broad consumer base, offering a balance between quality and affordability.
These bags cater to budget-conscious travelers and professionals seeking durable and functional products without breaking the bank. They often feature sturdy materials, ample storage space, and ergonomic designs, making them suitable for various travel and business needs.Meanwhile, the low price range targets price-sensitive consumers looking for budget-friendly options. These bags may sacrifice some features or materials compared to medium and premium ranges but still provide adequate functionality for occasional travelers or budget-conscious professionals.
While they may not offer the same level of durability or premium finishes, low-priced travel and business bags fulfill essential requirements at accessible price points. Conversely, the premium price range caters to discerning customers willing to invest in high-quality, luxury bags that prioritize style, craftsmanship, and advanced features. These bags often utilize premium materials, innovative technologies, and meticulous design, appealing to affluent travelers and professionals who value luxury and exclusivity in their accessories.
Global Travel And Business Bags Market, Segmentation by Distribution Channel
The Global Travel And Business Bags Market has been segmented by Distribution Channel into Offline and Online.
The segmentation of the global travel and business bags market by distribution channel offers valuable insights into how consumers access and purchase these products. Offline channels, which include brick-and-mortar stores, departmental stores, specialty stores, and travel retail outlets, continue to play a significant role in the distribution of travel and business bags.
These physical retail outlets offer consumers the opportunity to interact with products firsthand, assess quality, and receive personalized assistance from sales staff. Moreover, offline channels cater to impulse purchases and immediate needs, making them particularly relevant for travelers and professionals seeking last-minute bag solutions.On the other hand, online distribution channels have witnessed rapid growth and adoption, fueled by the proliferation of e-commerce platforms, digital retail channels, and mobile shopping apps.
Online channels provide consumers with a convenient and accessible shopping experience, allowing them to browse, compare, and purchase travel and business bags from the comfort of their homes or on the go. The convenience of doorstep delivery, extensive product variety, competitive pricing, and user reviews contribute to the popularity of online channels among consumers. Additionally, advancements in technology, such as augmented reality (AR) and virtual try-on features, enhance the online shopping experience, enabling consumers to make informed purchase decisions. As consumers increasingly embrace digital shopping channels, online distribution is poised to continue its growth trajectory in the global travel and business bags market.
Global Travel And Business Bags Market, Segmentation by Geography
In this report, the Global Travel And Business Bags Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
The segmentation of the global travel and business bags market by geography provides insights into the regional dynamics shaping market growth and trends. North America, with its mature economy and robust consumer spending, represents a significant market for travel and business bags. The region's affluent population, coupled with a high frequency of travel for both leisure and business purposes, drives demand for premium-quality bags with innovative features and designs.
The presence of key players and established retail channels further contributes to the market's growth in North America.Europe is another prominent region in the global travel and business bags market, characterized by a strong emphasis on fashion and design aesthetics. Consumers in Europe prioritize style and functionality when choosing travel and business bags, leading to demand for products that combine elegant designs with durable materials and advanced features. The region's well-developed infrastructure and extensive network of transportation systems, including air, rail, and road networks, contribute to sustained demand for travel bags among European consumers. As such, the segmentation by geography highlights the diverse preferences and market dynamics driving growth in different regions across the globe.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Travel And Business Bags Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunity Analysis
Drivers:
- Increasing popularity of travel and tourism across the globe
- Rapid advancements in product design & materials
- Rising influence of social media, celebrity endorsements
- Increasing demand for sustainability and eco-friendly products
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The increasing need for travel bags that are lightweight:The rising demand for lightweight travel bags stands as a prominent driver in the global travel and business bags market. Modern travelers seek bags that offer both durability and portability without compromising on functionality. Lightweight bags not only ease the burden of carrying luggage but also comply with airline weight restrictions, allowing travelers to pack more efficiently and avoid additional fees. Moreover, lightweight bags contribute to enhanced mobility, making them ideal companions for individuals navigating through crowded airports, bustling city streets, or exploring remote destinations. As travelers prioritize convenience and comfort, manufacturers are responding by incorporating innovative materials and design elements to create lightweight yet sturdy bags that cater to the evolving needs of the modern traveler.
The proliferation of lightweight materials and advancements in manufacturing techniques have fueled the availability and affordability of lightweight travel bags across various price points. Manufacturers are leveraging materials such as high-density nylon, polyester, and lightweight alloys to develop bags that offer superior strength-to-weight ratios without sacrificing durability. Additionally, the trend towards minimalistic and sleek designs aligns with the preference for lightweight bags among fashion-conscious travelers seeking both practicality and style. With the increasing need for streamlined travel experiences, lightweight bags are expected to continue driving growth in the global travel and business bags market, offering travelers a balance of functionality, aesthetics, and convenience.
Restraints:
- Counterbalance
- Fluctuating Raw Material Costs
- Intense Competition
- Strict government guidelines
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Rising online counterfeits:The global travel and business bags market faces the significant restraint of rising online counterfeits, which poses challenges for both consumers and legitimate manufacturers. With the proliferation of online marketplaces and e-commerce platforms, counterfeiters have found it easier to replicate popular bag designs and sell them at significantly lower prices, often deceiving unsuspecting buyers. The prevalence of counterfeit travel and business bags not only undermines the reputation and brand image of genuine manufacturers but also raises concerns regarding product quality, durability, and safety for consumers. Moreover, the rise of online counterfeits erodes consumer trust and confidence in the market, leading to potential revenue losses and decreased market share for legitimate players.
Combating online counterfeits requires coordinated efforts from regulatory authorities, law enforcement agencies, and industry stakeholders to enforce intellectual property rights, monitor online marketplaces, and prosecute counterfeiters. However, the dynamic nature of online platforms, the anonymity afforded by the internet, and the global nature of counterfeiting operations pose challenges in effectively curbing this illicit trade. As a result, the rising prevalence of online counterfeits continues to present a significant restraint for the global travel and business bags market, impacting legitimate businesses, consumer trust, and market competitiveness.
Opportunities:
- Growing e-commerce and online retailing
- Innovation in Design and Technology
- Demand for Lightweight and Durable Bags
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Increasing demand for smartly equipped travel and business bags:The increasing demand for smartly equipped travel and business bags presents a significant opportunity in the global market, driven by the convergence of technological advancements and changing consumer preferences. As travelers and professionals seek convenience and efficiency in their journeys, there is a growing interest in bags equipped with smart features such as built-in charging ports, GPS tracking, RFID protection, and integrated organizational compartments. These smart functionalities enhance the utility and value proposition of travel and business bags, offering users enhanced security, connectivity, and organization capabilities on the go.
The rise of digital nomadism, remote work trends, and the proliferation of mobile devices have fueled the demand for smartly equipped bags that cater to the needs of modern professionals. Business travelers, in particular, require bags that can accommodate laptops, tablets, smartphones, and other electronic devices, while also providing easy access to chargers, cables, and other accessories. Smartly equipped travel and business bags not only streamline the packing and travel experience but also contribute to productivity and peace of mind, making them increasingly sought-after in the global market. As manufacturers continue to innovate and integrate smart technologies into their bag offerings, the opportunity for growth in this segment is expected to expand further.
Competitive Landscape Analysis
Key players in Global Travel And Business Bags Market include:
- CAPRI HOLDINGS LIMITED
- Kering SA
- LVMH
- Samsonite International S.A.
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Product
- Market Snapshot, By Price Range
- Market Snapshot, By Distribution Channel
- Market Snapshot, By Region
- Global Travel And Business Bags Market
- Drivers, Restraints and Opportunities
- Drivers
- Increasing popularity of travel and tourism across the globe
- Rapid advancements in product design & materials
- Rising influence of social media, celebrity endorsements
- Increasing demand for sustainability and eco-friendly products
- The increasing need for travel bags that are lightweight
- Restraints
- Counterbalance
- Fluctuating Raw Material Costs
- Intense Competition
- Strict government guidelines
- Rising online counterfeits
- Opportunities
- Growing e-commerce and online retailing
- Innovation in Design and Technology
- Demand for Lightweight and Durable Bags
- Increasing demand for smartly equipped travel and business bags
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Travel And Business Bags Market, By Product, 2021 - 2031 (USD Million)
- Travel bags
- Business bags
- Global Travel And Business Bags Market, By By Price Range, 2021 - 2031 (USD Million)
- Medium
- Low
- Premium
- Global Travel And Business Bags Market, By Distribution Channel, 2021 - 2031 (USD Million)
- Offline
- Online
- Global Travel And Business Bags Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Travel And Business Bags Market, By Product, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- CAPRI HOLDINGS LIMITED
- Kering SA
- LVMH
- Samsonite International S.A.
- Company Profiles
- Analyst Views
- Future Outlook of the Market