The global Backpack Travel Bag Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 7.1% during the review period (2022 to 2027)
Backpack Travel Bag Market Overview
The substantial boom in the travel and tourism sector (including medical tourism) fosters the demand for various types of travel bags. The robust movement of business travelers, further fuels the requirement of travel bags especially backpacks and trolleys.most potential consumers limited their spending on travel Backpack Travel Bag, which directly impacted the sales revenues of top big brands in the luggage market. However, as the pandemic situation is improving gradually, the spending patterns of consumers have strengthened, and the market is expected to regain its potential as the economies of the developing nations improve.The change in lifestyle, the growing travel and tourism industry, and the customer inclination toward high-end luggage are likely to positively impact the market’s growth during the forecast period.The increase in the demand for Backpack Travel Bag is directly proportional to the growing travel and tourism industry. Over the past few years, the global travel and tourism industry has witnessed significant growth. Currently, the tourism industry is one of the fastest-growing and most diversified industries globally.
Industry News:
deuter Deepens Commitment to Sustainable Backpack Production With Fall 2021 Collection
FEBRUARY 12, 2021 Deuter, the global leader in backpacks and outdoor equipment, extends its commitment to functional, stylish and sustainably produced outdoor goods in Fall 2021 with the launch of a product line that is once again 100-percent free of harmful perfluorocarbons (PFCs) and includes bluesign® approved materials as well as recycled fabrics. Highlights for the season include the outdoor-inspired Heritage Series daypack collection, Freescape Pro ski and snowboard packs, and three durable, consciously produced AViANT Duffel Pro luggage options.
In May 2021, Charlotte Stockdale and Katie Lyall collaborated with RIMOWA on a limited edition series of suitcases and travel accessories. The RIMOWA essential suitcases have signature polycarbonate grooves splashed with a bold graphic in the shape of paint dripping down the suitcase's exterior.
In December 2020, Away launched its newly expanded holiday collection with the launch of its brand new core travel collection. The new product offering includes three new backpack styles in a range of colors, a nylon-and-leather zip tote bag, a laptop bag, and a messenger bag.
What are the major Applications, Types and Regions for Backpack Travel Bag Market?
Backpack Travel Bag Market is segmented based on the type, applications, companies and regions.
By Type, Backpack Travel Bag Market has been segmented into
- Backpack
- Rolling Backpack
The end user’s industry application on Backpack Travel Bag Market is,
BY PRICE RANGE
- Premium
- Medium Range
- Low Range
Backpack Travel Bag Market Regional Analysis
The report offers in-depth assessment of the growth and other aspects of the Backpack Travel Bag Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
In Asian countries, like India, the luggage market has become highly competitive, with established brands, like VIP, competing in the market with new players, like Da Milano. The market is set to grow due to a rise in travel and tourism activities and a surging number of business travelers, which is expected to lead to a surge in the sales of travel and business bags. According to the Ministry of Tourism, India, around 26.92 million Indians traveled abroad in 2019, which was a rise of 11.69% compared to 2017..
What is our Backpack Travel Bag Market report scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2028 CAGR
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CAGR of 7.1% during the review period (2022 to 2027).
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By Type
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- Backpack
- Rolling Backpack
- Others
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By Application
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- Premium
- Medium Range
- Low Range
- Others
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By Companies
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Samsonite, Osprey, VF, Victorinox, Travelers Choice, Lowe Alpine, Deuter, Standard Luggage, Timbuk2, Herschel Supply and others.
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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91
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Backpack Travel Bag Report
- Evaluate Backpack Travel Bag market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Backpack Travel Bag market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
FAQ -
What is the study period of this market?
The Backpack Travel Bag Market is studied from 2017 - 2027.
What is the growth rate of Backpack Travel Bag Market?
The Backpack Travel Bag Market is growing at a CAGR of 7.1% over the next 5 years.
What regions does this Backpack Travel Bag Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
