Product Code: ETC005027 | Publication Date: Jul 2023 | Updated Date: Apr 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
The Singapore Travel Bags Market could see a tapering of growth rates over 2025 to 2029. Starting high at 4.55% in 2025, the market steadily declines to 1.78% by 2029.
By 2027, the Travel Bags market in Singapore is anticipated to reach a growth rate of 4.13%, as part of an increasingly competitive Asia region, where China remains at the forefront, supported by India, Japan, Australia and South Korea, driving innovations and market adoption across sectors.
The Singapore travel bags market is estimated to reach a market value of USD 18.2 million by 2026, growing at a CAGR of 5.3% during the forecast period (2020-2026). The rise in demand for lightweight and durable luggage sets from travelers has been driving the growth of the Singapore travel bags market over recent years.
Growing tourist population: The number of tourists visiting Singapore has increased significantly over recent years, driven by an increase in international flights and other tourism activities facilitated by government authorities and private organizations. This has resulted in high demand for suitable travel bags among customers which is expected to boost the growth of this market during the forecast period 2020-2026.Increase in disposable income levels: Over past few years, there has been rising disposable incomes among individuals across various income groups that has enabled them to purchase stylish and fashionable products such as designer branded suitcases or backpacks at premium prices resulting into higher revenues for companies operating within this industry space. Technological advancements offering comfort & convenience: With technological developments being made within this industry, manufacturers are now able incorporate features such as USB charging ports, built-in locks and anti theft systems into their product offerings thus providing greater convenience & comfort while traveling which boosts sales volumes thus furthering overall growth prospects for businesses operating within this domain moving forward till 2026 end.
High cost associated with branded/premium products : Despite increasing consumer spending power due to rising disposable incomes , the cost attached with branded /premium range luggage sets is quite expensive when compared with unbranded low priced options offered by competitors resulting into consumers opting out from buying these more expensive items limiting overall potential revenue streams generated through its sale.
Some key players present in the Singapore Travel Bags Market include Samsonite International SA , Delsey Paris , VF Corp., American Tourister (Samsonite South Asia Pte Ltd), Kipling(VF Corp.) High Sierra Sport Co.(VF Corporation) ETC
The COVID-19 pandemic significantly impacted the Singapore travel bags market. Travel restrictions, border closures, and reduced tourism during lockdowns and social distancing measures led to a decline in travel bag purchases as travel demand plummeted. However, as travel gradually resumed and restrictions eased, the market may have experienced a recovery in tandem with the return of travel activities.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Singapore Travel Bags Market Overview |
3.1 Singapore Country Macro Economic Indicators |
3.2 Singapore Travel Bags Market Revenues & Volume, 2020 & 2030F |
3.3 Singapore Travel Bags Market - Industry Life Cycle |
3.4 Singapore Travel Bags Market - Porter's Five Forces |
3.5 Singapore Travel Bags Market Revenues & Volume Share, By Material Types, 2020 & 2030F |
3.6 Singapore Travel Bags Market Revenues & Volume Share, By Product Types, 2020 & 2030F |
3.7 Singapore Travel Bags Market Revenues & Volume Share, By Distribution Channel, 2020 & 2030F |
3.8 Singapore Travel Bags Market Revenues & Volume Share, By Price Range, 2020 & 2030F |
4 Singapore Travel Bags Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Singapore Travel Bags Market Trends |
6 Singapore Travel Bags Market, By Types |
6.1 Singapore Travel Bags Market, By Material Types |
6.1.1 Overview and Analysis |
6.1.2 Singapore Travel Bags Market Revenues & Volume, By Material Types, 2020-2030F |
6.1.3 Singapore Travel Bags Market Revenues & Volume, By Hard-Side, 2020-2030F |
6.1.4 Singapore Travel Bags Market Revenues & Volume, By Soft-Side, 2020-2030F |
6.2 Singapore Travel Bags Market, By Product Types |
6.2.1 Overview and Analysis |
6.2.2 Singapore Travel Bags Market Revenues & Volume, By Briefcases, 2020-2030F |
6.2.3 Singapore Travel Bags Market Revenues & Volume, By Messenger Bag, 2020-2030F |
6.2.4 Singapore Travel Bags Market Revenues & Volume, By Backpacks, 2020-2030F |
6.2.5 Singapore Travel Bags Market Revenues & Volume, By Laptop Bag, 2020-2030F |
6.3 Singapore Travel Bags Market, By Distribution Channel |
6.3.1 Overview and Analysis |
6.3.2 Singapore Travel Bags Market Revenues & Volume, By Supermarkets, 2020-2030F |
6.3.3 Singapore Travel Bags Market Revenues & Volume, By Specialty Stores, 2020-2030F |
6.3.4 Singapore Travel Bags Market Revenues & Volume, By Factory Outlets, 2020-2030F |
6.3.5 Singapore Travel Bags Market Revenues & Volume, By Online store, 2020-2030F |
6.3.6 Singapore Travel Bags Market Revenues & Volume, By Others, 2020-2030F |
6.4 Singapore Travel Bags Market, By Price Range |
6.4.1 Overview and Analysis |
6.4.2 Singapore Travel Bags Market Revenues & Volume, By Premium Range, 2020-2030F |
6.4.3 Singapore Travel Bags Market Revenues & Volume, By Medium Range, 2020-2030F |
6.4.4 Singapore Travel Bags Market Revenues & Volume, By Low Range, 2020-2030F |
7 Singapore Travel Bags Market Import-Export Trade Statistics |
7.1 Singapore Travel Bags Market Export to Major Countries |
7.2 Singapore Travel Bags Market Imports from Major Countries |
8 Singapore Travel Bags Market Key Performance Indicators |
9 Singapore Travel Bags Market - Opportunity Assessment |
9.1 Singapore Travel Bags Market Opportunity Assessment, By Material Types, 2020 & 2030F |
9.2 Singapore Travel Bags Market Opportunity Assessment, By Product Types, 2020 & 2030F |
9.3 Singapore Travel Bags Market Opportunity Assessment, By Distribution Channel, 2020 & 2030F |
9.4 Singapore Travel Bags Market Opportunity Assessment, By Price Range, 2020 & 2030F |
10 Singapore Travel Bags Market - Competitive Landscape |
10.1 Singapore Travel Bags Market Revenue Share, By Companies, 2023 |
10.2 Singapore Travel Bags Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |