Travel Accessories market to Garner $48.2 Bn, Globally, by 2031 at 6.4% CAGR: Allied Market Research

News provided by

Jul 18, 2022, 09:10 ET

Increase in expenditure on luxury lifestyle, growing per capita income, and surge in number of business and leisure trips per person have boosted the growth of the global travel accessories market.

PORTLAND, Ore., July 18, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Travel Accessories Market by Type (Travel Bags, Electronic Accessories, Travel Pillow and Blanket, Toiletries, Others), by Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Factory Outlets, Online Stores, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global travel accessories industry accounted for $48.2 billion in 2021, and is expected to reach $95.7 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031.

Major determinants of the market growth

Increase in expenditure on luxury lifestyle, growing per capita income, and surge in number of business and leisure trips per person have boosted the growth of the global travel accessories market. However, growing popularity of virtual tourism and adoption of technology in business sector to conduct virtual meeting hinder the market growth. On the contrary, rise in tourism promotion and rise in accessibility of transport facilities are expected to open new opportunities in the future.

Covid-19 scenario:

The Covid-19 pandemic negatively affected the travel accessories market. As most countries closed their boundaries, which significantly affected the travel and tourism industry.
However, as the travel & tourism industry is back on track, the demand for travel accessories is expected to increase.

Request Sample Report @https://www.alliedmarketresearch.com/request-sample/17215

The supermarkets and hypermarkets segment dominated the market growth

By distribution channel, the supermarkets and hypermarkets segment held the largest share in 2021, accounting for nearly one-third of the global travel accessories market, due to their convenience and easy accessibility to users. However, the online stores segment is expected to manifest the highest CAGR of 8.4% during the forecast period, due to easy accessibility and increased in digital marketing of online platforms.

The electronic accessories segment to manifest the highest CAGR through 2031

By type, the electronic accessories segment is projected to register the highest CAGR of 7.3% during the forecast period, owing to increased penetration of smart phones and increased demand for electronics. However, the travel bags segment held the largest share in 2021, contributing to more than two-fifths of the global travel accessories market, due to increased need for travel bags as travel and tourism increased.

Asia-Pacific held the largest share

By region, the global travel accessories market across Asia-Pacific held the largest share in 2021, accounting for nearly two-fifths of the market. Furthermore, the region is expected to showcase the highest CAGR of 7.7% during the forecast period, owing to rise in travel and tourism industry and surge in expenditure on luxury lifestyle. The report includes analysis of the market across North America, LAMEA, and Europe.

For Purchase Enquiry @https://www.alliedmarketresearch.com/purchase-enquiry/17215

Major market players

ACE Co., Ltd.
LVMH Group
Adidas AG
Nike, Inc.
Magellan's
Travel Blue Ltd.
Sungjoo Group
VF Corporation
United States Luggage Company, LLC.
VIP Industries Ltd.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn | Twitter