Europe is projected to hold the maxim share in the global trolley bags market. Travel & tourism sector is the key driver in the trolley bags market
NEWARK, Del, Oct. 11, 2022 (GLOBE NEWSWIRE) — The global trolley bags market stands at US$ 17.9 Bn as of now and is expected to reach US$ 31.25 Bn by the year 2032 at a CAGR of 5.7% between 2022 and 2032.
With global population opting for trolleys for conveniently carrying luggage at the time of travelling, the trolley bags market is expected to go great guns in the near future. Plus, with advent of smart luggage embedded with GPS system tracker, the trolley bags market is likely to grow on an unabated note in the near future.
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Those running out of stamina or having a limited eyesight or even those witnessing dexterity are advised to use trolley bags. Also, those having a sound physique have started showing inclination toward trolley bags, so as to avoid any health-related complications further.
Business travels have increased in the post-Covid-era. This has led to an upswing in the demand for backpacks, duffle bags, and likewise. Besides, the end-consumers are more into exploring educational opportunities around the world. This calls for an ever-increasing demand for hard-side trolley bags, polycarbonate luggage bags, and likewise. Quest for adventure is another factor expected to take the trolley bags market by storm in the forecast period. The buying power of end-consumers has also witnessed a spike, especially in the emerging economies. This calls for an increasing demand for trolley bags, travel pouches, backpacks, duffle bags, and likewise. Rapid urbanization is also driving the trolley bags market.
At the same time, the market could get hampered based on factors like an upsurge in the number of various unorganized market participants. As they do away with advertising and branding, raw materials of superior quality, they can afford to bring cheaper products on the floor.
On the other hand, branded trolley bags are subject to higher cost of production. Higher labor charges are there to add. These factors could actually slow down the growth of trolley bags market going forward.
Key Takeaways from Trolley Bags Market
- North America holds the largest market share due to the US citizens being more specific about cosy travel.
- Europe holds a significant market share (more than 30%) and the status quo is expected to remain the same even going forward due to Europeans being travel-oriented.
- The Asia-Pacific is expected to grow at the fastest pace in the trolley bags market due to the emerging economies like India showing more interest in international study as well as travel.
- LATAM and MEA are expected to figure amongst the most-sought-after travel destinations in future, which would revolutionize the trolley bags market in these regions as well.
“With the Asia-Pacific being on a travel spree, the trolley bags market is expected to be impertinent in the upcoming period”, says an analyst from Future Market Insights.
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- Horizn Studios has launched its new-fangled series of luxury luggage with the objective of creating more sustainable and eco-friendly products. This “Circle One” comes across as a 100% biodegradable and plant-based product, which helps in keeping single-use plastics at bay.
- Go Travel has entered into partnership with Case, so as to have the accessories exhibited at Case Store at Heathrow airport. These players have inked a 3-year agreement in this regard. It’s known to have its accessories like travel adapters, pillows, and travel comfort collection.
- Delsey stands behind Samsonite as far as travel accessories and luggage are concerned.
- VIP Industries are known for rendering quick-paced growth in trolley bags market.
- Samsonite is into development of innovative solutions with various sustainable manufacturing and material processes.
- Victorinox provides Swiss Army Knives, Travel Gear and Fragrances, Watches, and professional & household knives.
What does the Report Cover?
- Future Market Insights offers an exclusive perspective and various real-time insights on the trolley bags market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
Key Segments in the Trolley Bags Market
By Material Type:
By Price Range:
- Medium Range
- Low Range
By Distribution Channel:
- Specialty Stores
- Factory Outlets
- Online Stores
- North America
- Latin America
- Asia Pacific
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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