Singapore Travel Bags Market (2024-2030) | Trends, Industry, Revenue, Share, Analysis, Value, Outlook, Size, Companies, Forecast & Growth

Singapore Travel Bags Market Synopsis

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.

Market Drivers

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.

Market challenges

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.

Key players

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

Covid-19 Impact

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.

Key Highlights of the Report:

• Singapore Travel Bags Market Outlook
• Market Size of Singapore Travel Bags Market, 2023
• Forecast of Singapore Travel Bags Market, 2030
• Historical Data and Forecast of Singapore Travel Bags Revenues & Volume for the Period 2020-2030
• Singapore Travel Bags Market Trend Evolution
• Singapore Travel Bags Market Drivers and Challenges
• Singapore Travel Bags Price Trends
• Singapore Travel Bags Porter's Five Forces
• Singapore Travel Bags Industry Life Cycle
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Material Types for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Hard-Side for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Soft-Side for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Product Types for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Briefcases for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Messenger Bag for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Backpacks for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Laptop Bag for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Distribution Channel for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Supermarkets for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Specialty Stores for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Factory Outlets for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Online store for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Others for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Price Range for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Premium Range for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Medium Range for the Period 2020-2030
• Historical Data and Forecast of Singapore Travel Bags Market Revenues & Volume By Low Range for the Period 2020-2030
• Singapore Travel Bags Import Export Trade Statistics
• Market Opportunity Assessment By Material Types
• Market Opportunity Assessment By Product Types
• Market Opportunity Assessment By Distribution Channel
• Market Opportunity Assessment By Price Range
• Singapore Travel Bags Top Companies Market Share
• Singapore Travel Bags Competitive Benchmarking By Technical and Operational Parameters
• Singapore Travel Bags Company Profiles
• Singapore Travel Bags Key Strategic Recommendations