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Today number of people love to travel from one place to another as compared to the past. The boom in the travel and tourism sector has been driving the demand of the Travel Duffel Bags market in the 21st century. Some of the main reasons for the popularity of these travel bags include the compact size, the attractive designs, and colors and their high durability. It has been estimated that the attractive market will expand and reach to approximately USD 24027 million in the year 2023. The growth of the industry will take place at the CAGR of 7 percent.
Other factors that have significantly contributed to the expansion of the Travel Duffel Bags industry at the global level include the rapid rise in the level of urbanization, change in the lifestyle of people, and the rising demand of innovative offerings. A thorough analysis of the industry has been carried out to capture the exact trend and potential for growth. Some of the key industry elements that have been captured in the analysis include the competitive landscape of the industry, the profile of the major market players, the key growth factors, and many more.
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The overall attractiveness of the Travel Duffel Bags industry has molded the competitive landscape of the market. Some of the key players that have a strong presence in the global market setting are Samsonite, Eagle Creek, Luggage America, Everest, and Netpackbag. A thorough analysis of the competitive structure of the market has been carried out to get an insight into how the market will look in a few years.
For getting a comprehensive insight into the overall attractiveness of the industry, a wide range of tools have been used, such as Porter’s five force model, SWOT analysis, and Value Chain assessment.
The major market in the industry
The Travel Duffel Bags Market can be categorized based upon the retail format, and geography. Based on the retail format, the sub-categories of the market include specialist retail stores, e-retail stores, company-owned stores, and other forms of stores. Based on the geographical categorization, the major markets include Europe, North America, Latin tropic America, Africa, Asia-Pacific, and the Middle East. Several factors come into play in each of the market segment and mold the performance and growth potential of the attractive industry. Lately, the North America region has shown exceptional performance due to a rise in the domestic and outbound travel, and the increase in the popularity of online retailing.
Latest industry news
In the digitalized era, technology has entered the Travel Duffel Bags Market setting, and it has been influencing the demand for these travel products. Several smart luggage systems have entered the scene, which has GPS tracker. These innovative travel bags not only simplify the traveling experience of travelers but enable them to manage their luggage efficiently. Lately, there has been a surge in demand for fashionable and premium travel duffel bags among the travelers and tourists.