New York, NY, Aug 07, 2019 (WiredRelease): The Travel and Business Bags Market Report offers an unbiased and detailed study of the current trends, opportunities/ high growth areas, market growth drivers, that will help stakeholders to decide and align Travel and Business Bags business strategies according to the on-going and future market. The travel and business bags market report provides the global market and region-wise market analysis. The travel and business bags market report evaluate, keep records and serves the worldwide market size of the key players in each region across the globe. Also, the report serves the information of the leading market players in the travel and business bags market.
Introduction:
Travel and business bags mainly used to carry different, necessary things which is required for business and personal purpose, while traveling from one location to another location.
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Global Travel and Business Bags Market: Dynamics
Increasing travel and tourism and rising number of business travelers across the globe are major factors expected to drive the growth of the global travel and business market over the forecast period. In addition, increasing urbanization and rising consumer inclination towards luxury and advanced bags for travelling which are equipped with Bluetooth enabled lock, USB port, and GPS tracker system are important factors fueling growth of the target market.
Growing trend of advanced travel and business bags across the globe and increasing demand for strong and designer, light weighted bags among individuals are key factors expected to boost the growth of the global travel and business bags market during the forecast period. Also, changing lifestyle, increasing living standard, and increasing industrialization are important factors expected to support for the growth of the global market in the next few years. Increasing product development and advancement in travel and business bags by manufacturers is another factor estimated to propel growth of the target market in next 10 years.
Global Travel and Business Bags Market: Segmental Analysis
On the basis of product type, duffel bags segment is expected to register highest CAGR over the forecasted period, owing to increasing awareness among the individuals about the multiple benefits of the duffel bags such as easy accessible pockets, lightweight for easy movements, suitability for elderly persons.
On the basis of sales channel, online sales channel segment is estimated to account for a significant share in terms of revenue in the global travel and business bags market, owing to increasing consumer’s preference towards the online purchasing due to various factors such as availability of easy price comparison between various products, attractive discounts, free shipping, easy exchange and return, and on-time delivery provided by the online channels to the consumers.
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Global Travel and Business Bags Market: Regional Analysis
The market in Europe dominates in the global market in terms of revenue followed by the market in the North America, owing to the high demand for travel and business bags due to high tourist traffic across Europe. Market in Asia Pacific is expected to register a significant growth in the global market, owing to rising travel and tourism and rising disposable income of individuals in emerging countries such as China, India, and Japan in the region. Markets in Latin America and Middle East & Africa are expected to witness moderate growth in terms of revenue, owing to increasing awareness about the various types of travel and business bags with the fashionable trends in countries in these regions.
Global Travel and Business Bags Market: Key Players
Delsey S.A, LVMH Moët Hennessy Louis Vuitton S.E, Safari Industries (India) Limited, Samsonite International S.A, VIP Industries Limited, Wildcraft India Private Limited, Alfred Dunhill, United States Luggage Company, Targus, Rimowa GmbH
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WHAT TO TAKE AWAY FROM THIS ARTICLE:
- On the basis of sales channel, online sales channel segment is estimated to account for a significant share in terms of revenue in the global travel and business bags market, owing to increasing consumer’s preference towards the online purchasing due to various factors such as availability of easy price comparison between various products, attractive discounts, free shipping, easy exchange and return, and on-time delivery provided by the online channels to the consumers.
- The Travel and Business Bags Market Report offers an unbiased and detailed study of the current trends, opportunities/ high growth areas, market growth drivers, that will help stakeholders to decide and align Travel and Business Bags business strategies according to the on-going and future market.
- Growing trend of advanced travel and business bags across the globe and increasing demand for strong and designer, light weighted bags among individuals are key factors expected to boost the growth of the global travel and business bags market during the forecast period.
