Global Travel Bags Market to Reach $43 Billion by 2030
The global market for Travel Bags estimated at US$26.7 Billion in the year 2023, is expected to reach US$43 Billion by 2030, growing at a CAGR of 7.1% over the analysis period 2023-2030. Duffle Bags, one of the segments analyzed in the report, is expected to record a 6.6% CAGR and reach US$16.6 Billion by the end of the analysis period. Growth in the Trolley Bags segment is estimated at 7.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $7.1 Billion, While China is Forecast to Grow at 10.1% CAGR
The Travel Bags market in the U.S. is estimated at US$7.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.9 Billion by the year 2030 trailing a CAGR of 10.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 6.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.1 Billion by the year 2030.
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