GVR Report cover Bags And Containers Market Size, Share & Trends Report

Bags And Containers Market Size, Share & Trends Analysis Report By Type (Backpacks, Travel Bags, Sports Bags, Tote Bags), By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2028

  • Report ID: GVR-4-68039-942-3
  • Number of Pages: 78
  • Format: Electronic (PDF)

Report Overview

The global bags and containers market size was valued at USD 38.80 billion in 2021 and is expected to expand at a compound annual growth rate of 5.6% from 2022 to 2028. The growth of the global bags &  containers market is primarily driven by the increasing global travel and tourism sector and customer preference for high-end baggage. Furthermore, growing requirements for backpacks from the business and educational sectors are fueling the growth of the bags market. Rapidly changing lifestyles, urbanization, and increasing purchasing power of the middle class, particularly in developing nations, are the factors expected to drive demand for luxury and trendy bags. Increased domestic tourism, business trips, and growing demand for weekend family visits, all contribute to increased bags &  containers market sales.

U.S. Bags And Containers Market size, by distribution channel, 2019 - 2028

COVID-19 has negatively affected the bags and containers market, globally. The major fall in the travel & tourism industry, throughout the pandemic period, is the major reason for reduced sales. Country-wise lockdown, a complete ban on international traveling and in addition the closure of shopping malls and retail stores has hampered the growth of the bags and containers market in 2020.

However, as the pandemic situation steadily improved, consumer purchasing habits increased, and the market is projected to recover. In addition, consumer buying behavior majorly shifted from offline channels to online portals during pandemic times, which influenced positively on bags & containers market.

The increase in demand for bags & containers is directly proportional to the growth of the travel and tourism industry. The worldwide travel and tourism business has seen substantial expansion in recent years. The tourism business is currently one of the world's fastest-growing and most diverse sectors. Countries such as China, the U.S., Spain, and Germany among others have high outbound tourism. Furthermore, women's spending on luxury travel has increased dramatically in recent years, thereby supporting the market growth.

The incorporation of advanced technologies such as GPS monitoring into new product innovations from manufacturers is expected to promote the market growth for bags &  containers. The availability of goods in a wide range of forms, sizes, colors, and design patterns will appeal to a wide range of consumers, propelling market expansion. The bags industry is growing due to millennials increasing usage of various bags for multiple situations as a fashion statement. Rising demand for bags &  containers from athletes, health-conscious individuals, travelers, and trekkers will expand the market demand. 

Bags & containers perform 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 a large population. The easy availability of eco-friendly and sustainable products in the market will further propel the growth of the bags & containers market.

Rising disposable income and increased spending on sports are the factors expected to drive demand for the bags &  containers, during the forecast period. One of the key reasons influencing customer purchase decisions is the demand for lightweight bags that can fit a variety of clothes and items.

However, the widespread availability of counterfeit products is likely to limit the market expansion. Counterfeit items are priced significantly lower than branded ones, which are predicted to have an influence on market sales.

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.

Global Bags And Containers Market share, by type, 2021 (%)

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 Companies & Market Share Insights

Bags and containers industry is fragmented in nature with the presence of global and regional players. Key industry participants strengthen their presence by adopting various marketing strategies such as the expansion of distribution channels, opening new retail stores, and strengthening the supply chain.

Expansion is another approach that firms may use to broaden their customer base internationally. Companies also prefer to form partnerships in order to increase their market domination. Through this technique, the major players are always attempting to leverage their product portfolio in order to grow their market position, locally.

Some of the prominent  players in the global bags and containers market include

  • 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

Bags And Containers Market Report Scope

Report Attribute

Report Details

Market size value in 2022

USD 40.26 billion

Revenue forecast in 2028

USD 56.86 billion

Growth Rate

CAGR of 5.6% from 2022 to 2028

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2028

Quantitative units

Revenue in USD million and CAGR from 2022 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, trends

Segments covered

 Type, distribution channel, region

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Canada, Germany, U.K., France, Russia, Italy, China, Japan, India, Brazil, Argentina, South Africa, Saudi Arabia

Key companies profiled

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

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Segments
Covered in the Report 

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2017 to 2028. For this study, Grand View Research has segmented the global Bags & Containers Market report based on the type,  distribution channels, and region.

  • Type Outlook (Revenue, USD Million, 2017 - 2028)

    • Backpacks

    • Travel Bags

    • Sports Bags and Tote Bags

    • Others

  • Distribution Channels (Revenue, USD Million, 2017 - 2028)

    • Offline

    • Online

  • Regional Outlook (Revenue, USD Million, 2017 - 2028)

    • 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

Frequently Asked Questions About This Report

gvr icn

GET A FREE SAMPLE

gvr icn

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

gvr icn

NEED A CUSTOM REPORT?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

BBB icon D&B icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.