Extra individuals 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 is not 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 below are the important thing statistics for understanding the baggage 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 development was pushed by extra folks touring mixed with innovation within the trade and extra targeted advertising on-line and in social media.
The chart and desk beneath present the entire 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 induced a 59% drop in US baggage retail gross sales. By 2021, baggage gross sales had returned to 85% of pre-pandemic ranges in the US.
International Baggage Market Measurement Forecast
In 2022, the worldwide baggage market was valued at $17.6 Billion, based on Statista.
The chart beneath reveals the previous and forecasted development of the baggage market worldwide, from 2017 to 2025.
|
International 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 top of 2024. From 2019 to 2029, researchers at Mordor Intelligence predict a 7.2% compound annual development fee within the baggage trade.
Extra individuals are touring around the globe, and we will solely anticipate that development 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 spanking new journey manufacturers, those who did handle to outlive (Beis, Monos, July, and others) will possible expertise important development within the coming years as the baggage trade as a complete continues to develop quickly.
Baggage Search Curiosity by Month
Whereas the seasonal developments in baggage gross sales and search curiosity should not as hanging as for backpacks (that are most in demand at “back-to-school” season), there undoubtedly are yearly-repeating patterns.
The desk beneath reveals US search curiosity within the time period “baggage” by month from January 2021 to December 2023 based on Google Developments.
The sample within the chart above reveals 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 season is the season that universally sees probably the most journey, and this development displays that. As college summer time holidays begin, individuals are purchasing 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 individuals are extra excited about baggage throughout this time.
