The trolley bags market is projected to be valued at US$ 18,913.21 million in 2023 and is expected to rise to US$ 32,924.20 million by 2033. The sales of trolley bags are expected to capture a significant CAGR of 5.7% during the forecast period.
A Surge in Travel and Tourism: Booming travel industry can be referred to as the prime driver bolstering the demand for trolley bags in the global market.
Booming educational opportunities also serve to be a key contributor to the trolley bags market, as students are moving across the globe to pursue different courses, and trolley bags are offering convenience at their fingertips to carry loads of luggage.
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The growth of the travel and tourism industry has been a key driver behind the expansion of the trolley bags market. With increasing disposable incomes and a growing desire for exploration and leisure, more people are traveling domestically and internationally. This has resulted in a higher demand for reliable and durable luggage options, including trolley bags.
Furthermore, the rise of e-commerce and online travel booking platforms has made it easier for consumers to research and purchase travel accessories, including trolley bags. The convenience of online shopping, a wide range of options, and competitive pricing have contributed to the market’s growth.
Manufacturers in the trolley bags market are continually innovating to meet evolving consumer needs and preferences. They are introducing lightweight materials, enhanced durability features, smart functionalities, and stylish designs to attract consumers. Additionally, eco-friendly and sustainable trolley bags have gained traction as travelers become more conscious of their environmental impact.
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Recent Developments
- Rimowa, a German luggage manufacturer, collaborated with Nike-owned digital fashion company RTFKT to launch an NFT line and a new NFC-enabled luxury bag in October 2022.
- In August 2022, Samsonite unveiled Magnum Eco, a new brand of luggage built from yogurt cups and plastic bottles. The liner of this new baggage line is constructed from plastic mineral water bottles that have been transformed into the exterior of hard-side bags.
- VIP Industries launched its first smart linked travel gear at Metro Cash & Carry in India in April 2022. It is outfitted with technology that sends warnings to users’ phones. With a simple click, customers can remain updated on the status of their luggage, including proximity and arrival information.
Key Segments Covered in the Trolley Bags Market 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:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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