The global travel accessories market size was US$ 48.2 billion in 2021. The global travel accessories market size is forecast to reach US$ 84.2 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2022 to 2030.
Travel clothing, pillows, blankets, sleep masks, travel bags, and other items are examples of travel accessories. Products used on a trip, including those taken for business and pleasure, are known as travel accessories. People typically purchase travel-related items to make their trips more comfortable and convenient.
Factors Influencing Market Growth
The rising per capita income, increasing expenditure on luxury lifestyles, and the growing number of business and leisure trips drive the global market.
The shifts in lifestyle, an increase in tourism promotion, and the rise in accessibility of transport facilities boost the global market growth.
The constant development in the travel & tourism industry and the comfortable and affordable availability of hospitality & infrastructure facilities fuel the global market growth.
The rise in technological progress in travel bags, such as self-moveable travel bags and travel bags with GPS, and the adoption of eco-friendly raw materials in pillows and blankets is forecast to offer lucrative opportunities for the global market.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Several governments worldwide imposed a lockdown in order to curb the virus from spreading. This resulted in country borders being closed, business trips being postponed, and production and transportation systems being interrupted, all of which had a significant negative impact on the product market in 2020.
The need for travel accessories is anticipated to rise as the travel and tourism sector picks up speed.
Regional Analysis
The Asia Pacific region held the largest market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the growing disposable income, increase in expenditure on tours and travel, the launch of smart luggage with tracking devices, and the rising adoption of the western lifestyle. Thus, these factors drive the market growth in the region.
North America is forecast to have lucrative market growth over the forecast period. In the U.S., a stylish and smart travel bag is an essential part of a traveler's lifestyle and fashion statement. In addition, the rising spending capacity on luxury goods and services, rapid acceptance of technologically advanced smart suitcases, and the increasing number of tours and travel persons drive the market growth in the region.
Leading Competitors
The leading prominent companies profiled in the global travel accessories market are:
ACE Co., Ltd.
Adidas AG
LVMH Group
Magellan's
Nike Inc.
Sungjoo Group
Travel Blue Ltd
United States Luggage Company, LLC.
VF Corporation
VIP Industries Ltd.
Other Prominent Players
Scope of the Report
The global travel accessories market segmentation focuses on Distribution Channel, Type, and Region.
Segmentation based on Distribution Channel
Supermarkets and Hypermarkets
Specialty Stores
Factory Outlets
Online Stores
Others
Segmentation based on Type
Travel Bags
Travel Outfits
Business Cases
Electronic Accessories
Personal Leather Goods
Toiletries
Food box
Travel Pillow and Blanket
Locks
Others
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America