Extra persons are touring than ever earlier than, and, regardless of COVID-19 setbacks, the journey trade as a complete has been rising quickly over the previous decade. Baggage isn’t any exception to that.
Within the wake of COVID-19 and the emergence of a bunch of startup baggage manufacturers, the market is regularly altering. Listed here are the important thing statistics for understanding the bags market.
US Baggage Retail Gross sales Over Time
From 2010 to 2019, US baggage retail gross sales elevated by practically 130% based on Statista. This progress was pushed by extra individuals touring mixed with innovation within the trade and extra targeted advertising and marketing on-line and in social media.
The chart and desk beneath present the whole retail gross sales for baggage within the US from 2010 to 2021.
|
US Baggage Retail Gross sales |
|
| 12 months |
Billion USD |
|
2010 |
$16.8 |
| 2011 |
$19.7 |
|
2012 |
$22.2 |
|
2013 |
$28.2 |
|
2014 |
$32.0 |
| 2015 |
$30.0 |
| 2016 |
$30.2 |
|
2017 |
$32.5 |
| 2018 |
$37.5 |
|
2019 |
$38.4 |
|
2020 |
$15.6 |
|
2021 |
$32.5 |
From 2019 to 2020, COVID journey bans prompted a 59% drop in US baggage retail gross sales. By 2021, baggage gross sales had returned to 85% of pre-pandemic ranges in america.
World Baggage Market Measurement Forecast
In 2022, the worldwide baggage market was valued at $17.6 Billion, based on Statista.
The chart beneath exhibits the previous and forecasted progress of the bags market worldwide, from 2017 to 2025.
|
World Baggage Market Measurement Forecast |
|
|
12 months |
Billion USD |
|
2017 |
$19.7 |
| 2018 |
$22.0 |
|
2019 |
$22.9 |
|
2020 |
$15.3 |
| 2021 |
$16.2 |
|
2022 |
$17.6 |
| 2023 |
$20.2 |
|
2024 |
$23.1 |
| 2025 |
$24.6 |
Whereas the worldwide baggage market was nonetheless far beneath pre-pandemic ranges in 2022, it’s anticipated to surpass these ranges by the tip of 2024. From 2019 to 2029, researchers at Mordor Intelligence predict a 7.2% compound annual progress price within the baggage trade.
Extra persons are touring all over the world, and we will solely count on that pattern to proceed. That’s excellent news for each established baggage manufacturers and newer startups within the enterprise.
Within the years and months main as much as COVID-19, a number of new manufacturers emerged within the baggage and journey gear house.
Whereas the pandemic was a difficult time for brand new journey manufacturers, those who did handle to outlive (Beis, Monos, July, and others) will seemingly expertise vital progress within the coming years as the bags trade as a complete continues to develop quickly.
Baggage Search Curiosity by Month
Whereas the seasonal traits in baggage gross sales and search curiosity will not be as placing as for backpacks (that are most in demand at “back-to-school” season), there undoubtedly are yearly-repeating patterns.
The desk beneath exhibits US search curiosity within the time period “baggage” by month from January 2021 to December 2023 based on Google Trends.
The sample within the chart above exhibits that yearly there are two spikes in search curiosity for baggage.
The primary is a gradual ramp-up by means of the spring that peaks in July. Summer time is the season that universally sees probably the most journey, and this pattern displays that. As college summer time holidays begin, persons are searching for baggage to gear up for journeys.
The second spike is within the vacation season, particularly Black Friday Weekend. That is probably the most worthwhile time of 12 months for a lot of shopper items industries, so it’s no shock that persons are extra taken with baggage throughout this time.
