The trolley bags market size is projected to be valued at USD 18,913.21 million in 2023 and is expected to rise to USD 32,924.20 million by 2033. The sales of trolley bags are expected to record a significant CAGR of 5.7% during the forecast period.
The trolley bags market is witnessing a huge quantity of purchases as the populace is adopting trolleys for convenient and easy carriage of luggage during traveling. However, the COVID-19 pandemic decreased international tourist arrivals, and in 2020, the number dropped significantly, resulting in the sales of trolley bags majorly declining and negatively impacting the global market growth.
Inversely, the advancement in technology is implementing innovations such as the development of smart luggage with GPS trackers. This is likely to accelerate the overall growth of the market and create opportunities for market players.
The trolley bags are specially designed for people fighting with dexterity, limited strength, eyesight, and stamina. The travel bags market has witnessed an evolution in its product range, and trolley bags are gaining an edge over regular traveling bags.
Moreover, the robust movement of business travelers is fostering the need for various types of luggage trolley bags and is further fueling the requirement for this product, along with duffle bags, backpacks, and more.
Since the rise of travel and tourism has intensified the need for manufacturing more travel trolley bags, it is anticipated that the trolley bags market is likely to witness significant growth during the forecast period.
| Attributes | Details |
|---|---|
| Market Estimated Size (2023) | USD 18,913.21 million |
| Market CAGR (2023 to 2033) | 5.7% |
| Market Forecasted Size (2033) | USD 32,924.20 million |
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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.
Urbanization: Rapid urbanization and changes in lifestyle are creating a demand for innovative products such as polycarbonate luggage bags, hard-side trolley bags, and more.
There is a rising inclination and preference toward adventure, which is acting as a beneficial factor for manufacturing hubs.
Increased Purchasing Power: Middle-class households are witnessing an upsurge in their purchasing power, especially in the developing regions, and is anticipated to create more need for premium and fashionable travel bags, including travel pouches, trolley bags, duffle bags, backpacks, and other.
Besides the factor making a significant contribution to the expansion of the trolley bags market, it is also identified that several factors are going to affect the market in a negative way.
Rise in Unorganized Market Players: Unorganized market players is on the rise; they usually tend to offer products with similar attributes at lower prices to secure expenses on research and development, raw materials of high quality, branding, and advertising. Therefore, the presence of such market players is likely to inhibit the growth of the trolley bags market in the upcoming years.
High Cost of Manufacturing: The procurement of raw materials for manufacturing trolley bags incurs a lot of expense. The high cost associated with the manufacturing unit and high labor charges is going to slow down the pace of advancement in the global trolley bags market.
Principal Consultant
Market players focusing on technological advancements are expected to boost the demand for smart trolley bags through the introduction of ‘smart luggage.’ This effectuates the rapid growth of the travel and tourism industry across the globe.
A new generation of smart luggage, known as 'EVOA Tech,' can communicate effectively with the owner with the help of the Internet of Things (IoT). Moreover, another smart luggage feature offers a built-in USB port with cables connected to a power bank compartment. These significant updates are remarkably increasing consumer demand and generating profitable opportunities for the market.
High costs associated with overweight luggage at airports are creating lucrative options for market players. Hence, an in-built weighing scale that displays the exact weight of the luggage as soon as the user lifts the bag is an important feature that is expected to considerably surge consumer demand and aid companies in gaining a competitive edge in the market.
The North American region is expected to advance at a steady growth rate during the forecast period. Currently, this region is accountable for 26.0% of the total market share of trolley bags.
The factor contributing to the market size expansion for trolley bags in North America can be owed to the rapid pace of urbanization and increasing disposable income that is encouraging the populace of North America to indulge in more adventurous activities and traveling, simultaneously fueling the demand for trolley bags for smooth luggage carrying purposes.
Europe is projected to hold the maxim share of the global trolley bags market. At present, the European regions are cumulatively accountable for 34.0% of the total share of the trolley bags market.
The growth in Europe can be attributed to the presence of the leading market players in this region, who are continually making efforts towards further innovating the product and giving the most durable and unique form of trolley bags to the end-users.
Furthermore, the advancement of technology in the European regions, such as the development of smart luggage with GPS trackers and other facilities in luggage bags, is projected to expand the overall market during the forecast period.
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How are the Start-ups Revolutionizing the Trolley Bags Market?
The start-ups in the trolley bags market are evolving their business models with the advent of new technology and the emergence of new exciting trends. They are deploying new interesting themes which are gaining popularity amongst the end users.
Two start-ups to watch for:
| Start-up Name | Away, New York City |
|---|---|
| Year of Foundation | 2015 |
| Total Funding | USD 181 million |
| Description | Away is an internet-first direct-to-consumer luggage brand. The luggage bag has a removable battery to charge electronic devices. The products are manufactured in China and sold via the online platform and offline stores in New York and London. It provides 100 days of free trial and a lifetime warranty on its products. |
| Start-Up Name | Horizn Studios, Berlin (Germany) |
|---|---|
| Year of Foundation | 2015 |
| Total Funding | USD 29 million |
| Description | Horizn Studios designs, produce, and sell travel and personal bags. The brand incorporates various functionalities aimed at the traveler segment into its products, like USB charging, GPS, hard external bag shell, etc. Their flagship product is a smart trolley that is equipped with a smart charger and proximity sensor that warns owners when they are too far from the product. |
Take of Key Market Players in the Trolley Bags Market
The trolley bag market manufacturers are continuously trying to equip the products with new and advanced features. They are indulging in collaborations and, mergers & acquisitions to facilitate the consumers with premium quality durable products that may lead to more adoption and bolster the market growth of trolley bags.
Top Companies Influencing the Market:
Samsonite: Samsonite is continuously developing innovative solutions with sustainable materials and production processes. This is ensuring their products' durability, extending the product's life, and developing viable end-of-life solutions to divert as many of the products from landfill for as long as possible.
VIP Industries: Asia’s leading organization is focused on organizational transformation towards a professional and streamlined business operation poised for fast-paced profitable growth in the travel bags market.
Delsey: They are a French company which manufactures luggage and travel accessories. They are based in Tremblay-en-France, in the Paris suburbs. As of 2010, they held second place in the global luggage market, behind Samsonite.
Skyway: The brand is devoted to delivering luggage and travel accessories that have universal appeal and are user-friendly. They are committed to quality and continue to manifest their reputation through constant innovation, characterized by the utilization of durable materials to make the customer's travel experience better.
Victorinox: They are a global company with five product categories - Swiss Army Knives, Household & Professional Knives, Watches, Travel Gear, and Fragrances. The Swiss Army Knives, as well as their Travel Gear, are the core products and have a pioneering role in the development of all product categories.
Other Biggies in the Trolley Bags Market are
Some Recent Developments are:
| Attributes | Details |
|---|---|
| Growth Rate | CAGR of 5.7% from 2023 to 2033 |
| Base Year of Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and Volume in Units and F-CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered | Material Type, Distribution Channel, Price Range, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; The Middle East & Africa; Oceania |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | VF Corporation; Samsonite; VIP Industries; Delsey; Briggs & Riley; Rimowa; Travelpro; Tommy Hilfiger; Victorinox; Olympia; Fox Luggage; Skyway; Traveler’s Choice; ACE; Diplomat; EMINENT |
| Customization & Pricing | Available upon Request |
The overall industry value could reach almost USD 32,924.2 million by 2033.
The global demand for trolley bags is estimated to rise at merely 5.7% CAGR through 2033.
Owing to the presence of leading manufacturers it currently holds 26% market share.
Printed polywoven bags are getting popular day by day.
The rise of unorganized market players is a curbing factor for sales of trolley bags.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type 5.1. Hard-Side 5.2. Soft-Side 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Price Range 6.1. Premium 6.2. Medium Range 6.3. Low Range 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Supermarkets/Hypermarkets 7.2. Specialty Stores 7.3. Factory Outlets 7.4. Online Stores 7.5. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. VF Corporation 18.2. Samsonite 18.3. VIP Industries 18.4. Delsey 18.5. Briggs & Riley 18.6. Rimowa 18.7. Travelpro 18.8. Tommy Hilfiger 18.9. Victorinox 18.10. Olympia 18.11. Fox Luggage 18.12. Skyway 18.13. Traveler’s Choice 18.14. ACE 18.15. Diplomat 18.16. EMINENT 19. Assumptions & Acronyms Used 20. Research Methodology
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Trolley Bags Market
