Trolley Bags Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Trolley Bags Market grew at a CAGR of 4.5% between 2017-2021 and is estimated to be US$ 14,652.1 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.9% and is expected to reach a valuation of US$ 23,640.4 Mn by 2032 end.
The travel and tourism industry is growing rapidly, expected to drive the market to manufacture more travel trolley bags. This rise in demand is also supported by the rising disposable income levels of consumers looking to spend a lot on leisure and other activities.
ChemView Consulting has analyzed that The global trolley bags market is witnessing tremendous growth as the populace is adopting it for easy and convenient luggage carriage during traveling. However, the COVID-19 pandemic caused a drop in international tourist arrivals, which resulted in a decline in the sales of trolley bags. Inversely, technological advancements are paving the way to developing smart luggage with a GPS tracker. This will accelerate the global market’s overall growth and create opportunities for market players.
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Segments Covered in Report
By Material Type:
- Hard-Side
- Soft-Side
By Price Range:
- Premium
- Medium Range
- Low Range
By Distribution Channel:
- Supermarkets/Hypermarkets
- Specialty Stores
- Factory Outlets
- Online Stores
- Others
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Trolley Bags Market
- Based on the Price Range, the Premium segment dominated the market with a 40.4% share in 2021. These factors are driving the growth of the part in the market. The Premium segment dominates the market with high-quality products, exclusive designs, and advanced features such as smart luggage with GPS trackers.
- Based on the Distribution Channel, The online segment is expected to grow at a CAGR of 9.0% through the forecast period. The growing popularity of e-commerce websites among consumers and increasing consumer preference to purchase travel bags online due to ease of payment, eye-catching discounts, and home delivery has made online shopping much more convenient.
- Based on Region, the North American market held a sizeable revenue share of 34.0%. This is due to the increased disposable income and the influx of high-end tourists across various cities. This has led to the Region’s demand for designer bags and handbags.
Competition Summary
Key companies covered in the market study are VF Corporation, Briggs & Riley, Rimowa, Travelpro, Tommy Hilfiger, Olympia, Fox Luggage, Traveler’s Choice, ACE, Diplomat, and EMINENT.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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