Travel Accessories Market Update 2024 : Projected to Exhibit USD $95.7 Billion Revenue by 2031, Claims AMR

By type, the electronic accessories segment accounted for $10,814.4 million in 2021, garnering 22.4% of the global travel accessories market share.

WILMINGTON, DE, UNITED STATES, October 31, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Travel Accessories Market," The travel accessories market was valued at $48.2 billion in 2021, and is estimated to reach $95.7 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031.

Travel accessories are products that are used during journey, which can be for various purposes, including business and leisure travel. People usually buy travel accessory products to obtain convenience and comfort during the travel. Thus, rise in the travel and tourism sector and business trips is a major factor that drives the growth of the travel accessories market size during the forecast period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐫𝐞𝐩𝐨𝐫𝐭 𝐬𝐚𝐦𝐩𝐥𝐞 𝐭𝐨 𝐠𝐚𝐢𝐧 𝐜𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A16837

Factors that promote growth of the travel & tourism industry include, changes in lifestyle, increase in tourism promotion, and surge in accessibility of transport facilities. Moreover, continuous development in the travel & tourism industry and integration of various segments such as hospitality & infrastructure with government initiatives accelerate growth of the global travel & tourism industry, which propels the travel accessories market growth.

The market is segmented into type, distribution channel, and region. On the basis of type, the market is categorized into travel bags, electronic accessories, travel pillow and blanket, toiletries, and others. On the basis of distribution channel, it is bifurcated into supermarkets/hypermarkets, specialty stores, factory outlets, online stores, and others. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).

According to the travel accessories market trends, on the basis of type, the travel pillow and blanket segment was valued at $6,280.1 million in 2021 and is projected to reach $13,029.3 million by 2031, growing at a CAGR of 6.9% from 2022 to 2031. Growing incidences of sleeping disorders and back pain and requirement for comfortable sleeping positions while traveling are likely to generate demand for travel pillow and blankets. A neck pillow supports the neck and head to reduce the pain by creating natural resting positions. Growing use of sustainable materials for making travel pillow and blankets and rise in acceptance for eco-friendly products further accelerate the growth of the travel accessories market share through the travel pillow and blankets segment.

According to the travel accessories market analysis, by distribution channel, the online stores segment was valued at $9,502.3 million in 2021 and is expected to grow at $22,691.6 million by 2031, registering a CAGR of 8.4% during the travel accessories market forecast period. The shopping behavior of millennial generation and emergence of mobile devices for internet access are expected to boost the travel accessories market growth. Rise in penetration of various online portals in developing economies has led to the market growth through the online stores. Therefore, online stores for sales of travel goods, including travel bags, travel electronic accessories, pillow and blankets is anticipated to grow in the future.

According to the travel accessories market opportunities, by region, North America has been gaining significant share in product market and is expected to sustain its share during the forecast period. In the U.S., stylish and smart travel belongings, including travel bags represent lifestyle and fashion statement for travelers. Furthermore, high spending capacity on luxury goods and services, quick acceptance technological advanced smart suitcases, and rise in the number tours and travel persons boost the growth of the of the product market during the forecast period.

The players operating in the travel accessories market have adopted product launch and business expansion as their key developmental strategies to expand market share, increase profitability, and remain competitive in the market. The key players profiled in this report include, ACE Co., Ltd., Adidas AG, LVMH Group, Magellan's, Nike Inc., Sungjoo Group, Travel Blue Ltd, United States Luggage Company, LLC., LLC., VF Corporation, and VIP Industries Ltd.

𝐅𝐨𝐫 𝐚𝐧𝐲 𝐐𝐮𝐞𝐫𝐢𝐞𝐬 𝐋𝐢𝐧𝐤𝐞𝐝 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭, 𝐀𝐬𝐤 𝐚𝐧 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/A16837

KEY FINDINGS OF STUDY

The travel accessories market size was valued at $48,225.1 million in 2021, and is estimated to reach $95,711.3 million by 2031, registering a CAGR of 6.4% from 2022 to 2031.
By type, the electronic accessories segment accounted for $10,814.4 million in 2021, garnering 22.4% of the global market share.
By distribution channel, the specialty stores segment acquired $11,601.2 million in 2021, exhibiting 24.1% of the global market share.
China was the most prominent market in Asia-Pacific in 2021, and is projected to reach $13,822.6 million by 2031, growing at a CAGR of 6.1% during the forecast period.

Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the travel accessories market analysis from 2021 to 2031 to identify the prevailing travel accessories market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the travel accessories market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global travel accessories market trends, key players, market segments, application areas, and market growth strategies.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐀𝐌𝐑’𝐬 𝐄𝐱𝐭𝐞𝐧𝐬𝐢𝐯𝐞 𝐨𝐧𝐠𝐨𝐢𝐧𝐠 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞 𝐨𝐧 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐚𝐧𝐝 𝐆𝐨𝐨𝐝𝐬 𝐃𝐨𝐦𝐚𝐢𝐧
𝐓𝐚𝐭𝐭𝐨𝐨 𝐀𝐜𝐜𝐞𝐬𝐬𝐨𝐫𝐢𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/tattoo-accessories-market-A16875
𝐒𝐦𝐨𝐤𝐢𝐧𝐠 𝐀𝐜𝐜𝐞𝐬𝐬𝐨𝐫𝐢𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/smoking-accessories-market-A16013
𝐉𝐚𝐩𝐚𝐧 𝐇𝐨𝐦𝐞 𝐀𝐜𝐜𝐞𝐬𝐬𝐨𝐫𝐢𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/japan-home-accessories-market

Davin Correa
Allied Market Research
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