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Travel Accessories Market Size to Grow USD 95.7 Billion by 2031 at a CAGR of 6.4% | Valuates Reports

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11 Apr, 2024, 15:28 GMT

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BANGALORE, India, April 11, 2024 /PRNewswire/ -- Travel Accessories Market is Segmented by Type (Travel Pillow and Blanket, Toiletries, Travel Bags, Electronic Accessories), by Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Factory Outlets, Online Stores).

The Global Travel Accessories Market was valued at USD 48.2 Billion in 2021, and is projected to reach USD 95.7 Billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031.

Get Free Sample: https://reports.valuates.com/request/sample/ALLI-Auto-0J527/Travel_Accessories_Market 

Major Factors Driving the Growth of Travel Accessories Market:

The need for a variety of travel accessories has increased due to the rise in international travel, which is being driven by rising disposable incomes and an expanding middle class. The market has also been helped by changing customer tastes for comfort, convenience, and style when traveling.

The development of cutting-edge and technologically sophisticated travel gear, such GPS-tracking smart baggage and anti-theft features, is further propelling market expansion.

Furthermore, millennials and Gen Z travelers' need for visually beautiful and Instagram-worthy travel gear has increased due to the rising impact of social media and travel influencers. All in all, these elements working together are fueling the market growth for travel accessories.

View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-0J527/travel-accessories 

TRENDS INFLUENCING THE GROWTH OF TRAVEL ACCESSORIES MARKET

Travel has increased globally as a result of the spread of globalization and the growth of the middle class in many nations. The need for travel accessories has inevitably grown as more individuals are able to afford to travel for pleasure, work, or other reasons. Travelers are increasingly looking for extras to improve their entire travel experience, whether they are going on a little weekend vacation or a lengthy international excursion. These accessories range from portable chargers and travel cushions to baggage and packing organizers.

Technological improvements have had a tremendous impact on the travel accessories business. Travelers are increasingly drawn to cutting-edge features like GPS monitoring in bags, anti-theft systems, and smart functions. These advancements in technology not only offer security and convenience, but also meet changing demands and tastes. This factor is expected to drive the growth of the Travel Accessories Market.

In the market for travel accessories, consumer preferences have changed in favor of goods that combine durability, style, and practicality. Travelers of today seek for items that not only fulfill their functional requirements but also express their individuality and sense of style. As a result, a variety of visually appealing and cutting-edge travel accessories have become popular, such as stylish passport holders, fashionable baggage, and fashionable travel wallets. The market for travel accessories has grown significantly as a result of the emergence of social media platforms and the impact of travel bloggers and influencers. Consumers are becoming more lured to travel accessories that are not just practical but also visually beautiful and Instagram-worthy, as aspirational travel lifestyles are showcased on social media sites like Pinterest and Instagram.

Consumer awareness of environmental problems is rising, which is driving the travel accessory market's transition to more eco-friendly and sustainable products. Tourists are looking for eco-friendly accessories such as those made of recyclable materials or biodegradable textiles. Customers who care about the environment and wish to reduce their carbon footprint when traveling are becoming more interested in brands that place a high priority on sustainability and environmentally friendly production practices.

Buy Now: https://reports.valuates.com/api/directpaytoken?rcode=ALLI-Auto-0J527&lic=single-user

TRAVEL ACCESSORIES MARKET SHARE ANALYSIS

Type-wise, the travel bags category led the market with USD 19,899.3 Million in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 5.8% to reach USD 37,464.5 Million by 2031, according to market forecasts. The need for travel bags has increased due to an increase in tours and travels, both for work and pleasure. The usage of high-resistance polycarbonate material in travel bags, along with technological advancements like self-driving suitcases and smart baggage with GPS monitoring, are anticipated to propel the travel bag segment's growth during the projected period.

The distribution channel data indicates that the supermarkets/hypermarkets category contributed the most to the market, with USD 15,349.0 Million in 2021 and projected to grow at a compound annual growth rate (CAGR) of 5.0% to USD 26,581.6 Million by 2031. Supermarkets and hypermarkets include dedicated sections for goods connected to travel, which facilitates product identification and purchase for customers. These stores give customers a premium advantage by having different brands of travel bags, pillows, and blankets available, among other things. They also offer discounts on specific products, help from sales representatives, and simple checkout procedures. All of these factors support the growth of the travel accessories market through the supermarket and hypermarket segments.

Asia-Pacific is anticipated to have the largest market share for travel accessories during the forecast period, having captured the majority of the market in 2021. Some of the reasons contributing to the growth of the Asia-Pacific travel accessories market during the projected period are rising disposable income, rising tour and travel expenses, the introduction of smart baggage with monitoring devices, and the increasing acceptance of western lifestyle.

Purchase Regional Report: https://reports.valuates.com/request/regional/ALLI-Auto-0J527/Travel_Accessories_Market 

Key Companies:

  • 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

Buy Chapters: https://reports.valuates.com/request/chaptercost/ALLI-Auto-0J527/Travel_Accessories_Market

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

-  The Global travel and expense management software market was valued at USD 3 Billion in 2022, and is projected to reach USD 15.7 Billion by 2032, growing at a CAGR of 18.3% from 2023 to 2032.

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-  Pet Travel Accessories market is projected to reach USD 10610 Million in 2029, increasing from USD 7200 Million in 2022, with the CAGR of 5.7% during the period of 2023 to 2029.

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-  The luxury travel market was valued at USD 22200 Million in 2021, and it is anticipated to reach USD 39300 Million by 2028, registering a CAGR of about 8.4% during the forecast period (2022–2028).

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-  The global Visa Outsourcing Services market was valued at USD 2040.8 Million in 2023 and is anticipated to reach USD 4476.7 Million by 2030, witnessing a CAGR of 9.3% during the forecast period 2024-2030.

-  E-visa Outsource Service market is projected to reach USD 2241.9 Million in 2029, increasing from USD 1020.4 Million in 2022, with a CAGR of 9.3% during the period of 2023 to 2029.

-  The in-flight entertainment & connectivity market was valued at USD 4.13 Billion in 2020, and is projected to reach USD 11.65 Billion in 2030, registering a CAGR of 11.36%.

-  The global Business Travel Market size was valued at USD 695.9 billion in 2020 and is projected to reach USD 2001.1 billion by 2028 growing at a Compound Annual Growth Rate (CAGR) of 13.2% from 2021-2028.

-  Travel Agencies Market revenue was USD 153540 Million in 2022 and is forecast to a readjusted size of USD 452150 Million by 2029 with a CAGR of 15.6% during the review period (2023-2029).

-  Corporate Travel Agency Market

-  Kids Travel Bags Market

-  Baby Travel Bags market size is estimated to be worth USD 441.9 Million in 2022 and is forecast to be a readjusted size of USD 568.9 Million by 2028 with a CAGR of 4.3% during the review period.

-  Corporate Travel Expense Management Solutions Market

-  E-visa Outsource Service market is projected to reach USD 2241.9 Million in 2029, increasing from USD 1020.4 Million in 2022, with a CAGR of 9.3% during the period of 2023 to 2029.

-  Group Travel Insurance Market

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-  Business Travel Management Service Market revenue was USD 7421.8 Million in 2022 and is forecast to a readjusted size of USD 10280 Million by 2029 with a CAGR of 4.7% during the review period (2023-2029).

-  Travel eSIM Market

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-  Baby Travel Diaper Bag Backpacks market is projected to reach USD 950 Million in 2029, increasing from USD 763.5 Million in 2022, with a CAGR of 3.2% during the period of 2023 to 2029.

-  Travel Luggage Market

-  Duffle Travel Bag market is projected to reach USD 5056.8 Million in 2029, increasing from USD 3574 Million in 2022, with a CAGR of 5.1% during the period of 2023 to 2029.

-  Memory Foam Travel Pillow Market

-  Luggage and Bags Market revenue was USD 14040 Million in 2022 and is forecast to a readjusted size of USD 45850 Million by 2029 with a CAGR of 18.2% during the forecast period (2023-2029).

-  Traveler's Diarrhea Treatment market was valued at USD 785.4 Million in 2023 and is anticipated to reach USD 1007.4 Million by 2030, witnessing a CAGR of 3.5% during the forecast period 2024-2030.

-  Conventional Travel Trailer Market revenue was USD 7818.3 Million in 2022 and is forecast to a readjusted size of USD 10530 Million by 2029 with a CAGR of 4.3% during the forecast period (2023-2029).

DISCOVER OUR VISION: VISIT ABOUT US!

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

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