Bags And Containers Market (By Type: Backpacks, Travel Bags, Sports Bags, Tote Bags; By Distribution Channel) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030.

Published Date : Jun 2022 | No. of Pages : 150+ Pages | Category : Chemical and Material

The global bags and containers market was valued at USD 38.85 billion in 2021 and it is predicted to surpass around USD 56.98 billion by 2030 with a CAGR of 4.35% from 2022 to 2030.

Bags And Containers Market Size 2021 to 2030

Consumer’s increased inclination for the fashionable, trendy and lightweight bags designed for travel and tourism propels the bags & containers market growth.

The rapidly growing travel industry has opened up new global market opportunities for bags and containers. Furthermore, innovative and advanced product launches from manufacturing companies with GPS security features also propel the market growth. The growing use of backpacks in day-to-day life for various requirements is one of the major reasons for the backpacks market growth.

Rapidly growing urbanization, increase in disposable income, domestic and international travel and tourism are the major driving factors of bags and containers market growth. New product developments with added advanced features appeal to the large consumer base. Availability of the products in a variety of shapes and sizes, colors, and design patterns is one of the major factors, responsible for the market growth.

Bags & containers play a very important role in carrying clothes and other belongings while traveling, trekking, or shifting from one place to another. Duffel bags, backpacks, tote bags, and jewelry boxes; are the most commonly used types of bags and containers. Advanced and innovative product launches from top brands on a timely basis attract large populations. The easy availability of eco-friendly and sustainable products in the market will further propel the bags & containers market growth.

COVID-19 has negatively affected the bags & containers market, globally. The major fall in the travel and tourism industry throughout the pandemic period is the major reason for reduced sales. Country-wise lockdown, a complete ban on international traveling, in addition to closed shopping malls and retail stores hampered the bags & containers market growth.

However, as things get normal it is expected that the market gets momentum like in pre-pandemic times and will capture a significant market share in the coming years. In addition, consumers buying behavior majorly shifted from offline channels to online portals during the pandemic times, which influenced positively on the luggage market.

The sports bags and tote bags market expanding at the fastest speed by a CAGR of 6.0% from 2022 to 2028. Growing sports activities and health-conscious individuals lead to rising demand for sports bags in the international market. Furthermore, tote bags are getting popular to carry multiple belongings, as they are flexible and capable of accommodating multiple things. Premium and branded tote bags’ elevated demand will drive the segment’s market growth.

The offline channel accounted for the highest market share of more than 70.0% in the global market for bags & containers in 2021 and is expected to grow significantly during the forecast period. The growing chain of supermarkets and hypermarkets, the establishment of dedicated retail stores from top brands, and rapid urbanization propel the offline channels market growth. A large portion of the population still prefers to buy products by means of traditional manner, which leads to the growing market for bags & containers at offline stores.

Asia Pacific held the largest share in the global bags and containers market during 2021 and is estimated to be the fastest growing with a CAGR of 5.9%, during the forecast timeline. Rising domestic and international travelers, a number of the working population, easy availability of the top brands, and a rise in disposable income will boost the market growth. In addition, elevated demand for fashion trendy products further propels regional growth.

Scope of The Report

Report Coverage Details
Market Size in 2021 USD 38.85 billion
Revenue Forecast by 2030 USD 56.98 billion
Growth rate from 2022 to 2030 CAGR of 4.35%
Base Year 2021
Forecast Period 2022 to 2030
Segmentation Type, distribution channel, region
Companies Covered Ace Co. Ltd., Antler Ltd., Bric’s Industria Valigeria Fine SPA, Delsey S.A, Luggage America Inc., LVMH Moët Hennessy Louis Vuitton, Nike, Inc., Samsonite International S.A., V.F. Corporation, Valigeria Roncato, VIP Industries Ltd., Briggs &Riley Travelware,Ralph Lauren Corp., Tommy Hilfiger

 

Type Insights

Backpacks are accountable for the largest share of around 40.0%in bags & containers global market in 2021 and one of the fastest-growing segments during the forecast period. Rising demand for the backpacks, for their multipurpose use by the working population to carry laptops and important accessories coupled with the demand from the educational sector, travelers, and trekkers; is likely to propel the backpacks market growth.

Growing demand for premium and customized bags from individuals will drive the backpack's future market growth. Additionally, the rising demand for fancy and trendy backpacks is expected to create numerous business opportunities for the market players, to expand their product portfolio and open new revenue streams.

The sports bags and tote bags sector market is expanding at the fastest growth rate of 6.0% CAGR from 2022 to 2028. Growing sports activities and health-conscious individuals have led to rising demand for sports bags in the international market. Consumer spending on sporting items, particularly sports baggage, is expected to arouse interest and participation in various sports. This factor is predicted to contribute to market expansion.

In the next few years, rising involvement in professional sports is predicted to boost the product demand in this market. Furthermore, tote bags are getting popular to carry multiple belongings, as they are flexible and capable of accommodating multiple things. Premium and branded tote bags demand will drive the segment growth.

Distribution Channels Insights

The offline channel accounted for the highest market share of more than  70.0% in the global bags & containers market in 2021 and is expected to grow significantly during the forecast period. The growing chain of supermarkets and hypermarkets, the establishment of dedicated retail stores from top brands, and rapid urbanization are the factors that propel the offline channels' market growth.

A large portion of the population still prefers to buy products in the traditional way, which leads to the growing market for bags & containers at offline stores. As a part of their market growth strategy, bags and luggage manufacturing companies are extending the number of retail shops. Consumers' purchasing decisions are influenced even more when retailers provide goods discounts in exchange for club memberships.

The online segment is estimated to be the fastest-growing distribution channel at a CAGR of 6.0% from 2022 to 2028. Rising demand for premium products through the e-commerce domain, availability of the products in a variety of price ranges, colors, design patterns, and materials appeals to the rising consumer base.

Consumers changed buying behavior during the pandemic positively benefited the market growth. Consumers now have access to a wide selection of product options because of the growth of e-commerce platforms and a preference for online purchasing. Many manufacturers are putting more emphasis on e-commerce, in order to gain momentum by using the direct-to-consumer model.

Regional Insights

Asia Pacific accounted for the largest share in the global bags & containers market in 2021 and is estimated to be the fastest-growing market with a CAGR of 5.9% from 2022 to 2028. Due to an increase in travel and tourist activities as well as the growth in the number of business travelers, the market is predicted to develop, resulting in an increase in sales of travel and business bags in Asia Pacific.

Travel has increased dramatically in this region as a result of increased urbanization and business activities. Branded and trendy travel items, such as baggage, are becoming increasingly popular. In recent years, traveling luggage has gained importance basis the fact that it emerged as a simple means of transporting clothes to a more comfortable, handy, and multi-purpose travel companion. Hence, the luggage segment is expected to witness more traction in the coming years.

North America is estimated to grow with substantial market growth during the forecast period. Changing lifestyle, increased inbound and outbound travelers, rising weekend holidays with friends and families, growth adventures in sports, high purchasing power, and branded product availability at different channels propelled the segment demand.

Regional baggage manufacturers are rapidly producing luggage bags, duffel bags, laptop bags, backpacks, and other business travel bags, resulting in increased regional competition. This provides chances for regional producers to gain a strong market presence by delivering superior services and goods in response to customer demand.

Key Players

  • Ace Co. Ltd.
  • Antler Ltd.
  • Bric’s Industria Valigeria Fine SPA
  • Delsey S.A
  • Luggage America Inc.
  • LVMH Moët Hennessy Louis Vuitton
  • Nike, Inc.
  • Samsonite International S.A.
  • V.F. Corporation
  • Valigeria Roncato
  • VIP Industries Ltd.
  • Briggs & Riley Travel ware
  • Ralph Lauren Corp.
  • Tommy Hilfiger

Market Segmentation

  • By Type Outlook 
    • Backpacks
    • Travel Bags
    • Sports Bags and Tote Bags
    • Others
  • By Distribution Channels 
    • Offline
    • Online
  • By Regional Outlook 
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Russia
      • Italy
    • Asia Pacific
      • China
      • Japan
      • India
    • Central & South America
      • Brazil
      • Argentina
    • Middle East & Africa
      • South Africa
      • Saudi Arabia

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