Travel Accessories Market Expected to Reach USD 103.8 Billion by 2033, Growing at a CAGR of 6.5% | FMI

Travel Accessories Market
Travel Accessories Market

In 2023, the global travel accessories market is projected to reach a value of USD 55.29 billion and is forecasted to grow to USD 103.8 billion by 2033, with a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2023 to 2033. Previously, from 2018 to 2022, the market for travel accessories witnessed a CAGR of 5% in the historical period.

The global Travel accessories industry is ever changing where the old ones go obsolete as the new trend or fashion enters the market. Travel accessories are utilized for tourism, personal, and also for business travels. Travel accessories/goods include travel bags, travel outfits, business cases, electronic accessories, personal leather goods, toiletries, food box, travel pillow and blanket and locks amongst which travel bags holds the prominent share in the market.

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Some of the travel accessories can also be seasonal. Travel Bags can be further classified as luggage bags, sport bags, backpacks and others. Backpack is expected witness highest CAGR as compared to other types of bags.

Nowadays, travel agencies assists consumers to choose between travel accessories. The overall travel accessories market is expected to grow at high rate in the coming decade, given the increasing discretionary income and growing international travel.

Global Travel Accessories Market: Regional Outlook

Asia-Pacific region is expected to dominate the global travel accessories market and is projected to continue its dominance over forecast period owing to increasing consumer spending in countries such as China and India. Japan and ASEAN region also have the significant consumption of travel accessories.

U.S. is largest aviation market while China is projected to be the largest aviation market in future. With growth in aviation industry, the demand for travel accessories is also expected to increase. Most of the European countries have high budget for travel and tourism as compared to other regions and also promotes tourism activities.

Global Travel Accessories Market: Market Participants

Distribution channel plays a key role for the sales of travel accessories. Key players’ focuses on online distribution channel as the adoption of online services is at high rate. The manufacturers also tie-up with travel agencies for long term supply.

The prominent players in the market also focuses on delivering compact lightweight accessories with enhanced performance to attract large customer base.

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Some key players involved in the Travel Accessories market include:

  • ACE Luggage Co. Ltd
  • ExOfficio, Magellan’s
  • MCM Worldwide
  • Nike Inc.
  • TravelSmith Outfitters
  • VIP Industries Ltd.
  • SINOX COMPANY LTD.

The research report presents a comprehensive assessment of the Travel Accessories market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Travel Accessories market segments such as product type, intensity and end-use industry.

Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil)
  • Europe (Germany, Italy, France, U.K, Spain, Russia)
  • South Asia (India, ASEAN)
  • East Asia (China, Japan, South Korea)
  • Oceania (Australia & New Zealand)
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

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The market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on Travel Accessories market segments and geographies.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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