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The Business Research Company's Travel Accessories Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033 It will grow to $71.02 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.”
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LANDON, GREATER LANDON, UNITED KINGDOM, October 11, 2024 /EINPresswire.com/ -- The travel accessories market has experienced strong growth, rising from $49.38 billion in 2023 to $53.05 billion in 2024, at a compound annual growth rate (CAGR) of 7.4%. This expansion is driven by the influence of fashion trends on travel accessories, rapid urbanization, social media impact, a focus on health and wellness, and a growing youth population.
What Is The Estimated Market Size Of The Global Travel Accessories Market And Its Annual Growth Rate?
Travel Accessories Market: The travel accessories market is projected to experience significant growth in the next few years, expected to reach $71.02 billion by 2028, with a CAGR of 7.6%. The anticipated growth can be attributed to increasing disposable incomes, growth in the travel industry, a rise in international tourism, lifestyle changes, and frequent business travel. Key trends include the demand for personalized and customizable travel accessories, innovations in accessory design, a push for sustainable and eco-friendly products, the adoption of multipurpose and convertible accessories, and an increasing demand for smart luggage.
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Growth Driver Of The Travel Accessories Market
The surge in leisure travel and tourism activities is expected to propel the growth of the travel accessories market in the coming years. Travel and tourism activities encompass a wide range of services and experiences, including transportation, accommodation, entertainment, and exploration, designed to offer leisure, adventure, and cultural enrichment. The rise in these activities is attributed to increasing disposable incomes, improved transportation infrastructure, globalization, and a desire for unique experiences. Travel accessories are crucial for enhancing convenience, comfort, and organization, ensuring a smooth and enjoyable travel experience.
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Who Are The Leading Competitors In The Travel Accessories Market Share?
Key players in the market include Delsey, LVMH Group, Nike Inc., Adidas AG, Decathlon SA , VF Corporation, Samsonite, Rimowa GmbH, Victorinox AG, Tumi Holdings Inc., CE Luggage Co. Ltd., United States Luggage Company LLC, Magellan's, MCM Worldwide Ltd., VIP Industries Ltd., Osprey Packs, Travelpro Products Inc., Timbuk2, Eagle Creek Inc., Briggs & Riley, Gregory Inc., TravelSmith Outfitters, American Tourister Inc., Travel Blue Ltd., Sinox Company Ltd.
What Are The Dominant Trends In Travel Accessories Market Growth?
In the travel accessories market, companies are innovating by creating products from upcycled aircraft interiors. These accessories provide a sustainable solution by repurposing materials from decommissioned aircraft, demonstrating a commitment to environmental responsibility while offering unique products.
How Is The Global Travel Accessories Market Segmented?
1) By Product Type: Travel Bags, Travel Outfits, Business Cases, Electronic Accessories, Personal Leather Goods, Toiletries, Food Box, Travel Pillow And Blanket, Locks, Other Product Types2) By Price Range: Premium, Medium Range, Low Range3) By Distribution Channel: Supermarkets Or Hypermarkets, Specialty Stores, Factory Outlets, Online Channels, Multi-Brand Outlets
Geographical Insights: Asia-Pacific Leading The Travel Accessories MarketAsia-Pacific was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Travel Accessories Market DefinitionTravel accessories are designed to enhance traveler convenience, comfort, and safety, addressing common challenges faced during journeys. These items promote efficiency and enjoyment throughout the travel experience.
Travel Accessories Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future•Macroeconomic factors affecting the market in the short and long run•Analysis of the macro and micro economic factors that have affected the market in the past five years• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global travel accessories market report covering trends, opportunities, strategies, and more
The Travel Accessories Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on travel accessories market size, travel accessories market drivers and trends, travel accessories market major players and travel accessories market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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October 11, 2024, 16:00 GMT
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