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Industry Insights, Market Size, CAGR, High-Level Analysis: Kids Travel Bags MarketThe global kids travel bags market size was valued at USD 185.5 million in 2018. Rising preference for family leisure trips and educational tours is driving the global market. Inclination towards outbound traveling involving children has increased the adoption of kids travel luggage bags in order to effectively store their essentials. The travel and tourism industry has witnessed a surge in its growth patterns owing to shifting lifestyle trends as well as rising disposable income across generations. Shifting preference of consumers towards spending money on traveling as compared to other activities has fueled the growth of the market substantially. Moreover, kids when travelling to different places experience fun and excitement in carrying their own backpacks or dragging their suitcase at the airport. Therefore, manufacturers of kids travel bags have introduced innovative and creative suitcases according to the gender preference in color combination as well as theme based. For instance, Barbie trolley suitcase collection, Disney princess collection, and Mickey mouse-Minnie mouse collection are available for girls. Additionally, there are similar trolley suitcase collections for boys in the market featuring star wars collection, Avengers collection, car racing trolleys, and spider man suitcases. Increasing popularity of leisure travels across western countries is expected to drive the demand for the global market. According to World Travel & Tourism Council (WTTC), the leisure spending in the world valued to USD 4,233.3 billion in 2017. Thus, the market witnesses high spending on travel and luggage accessories such as travel bags. Moreover, rising awareness of baby travel bags such as trolley bags, backpacks, and duffle bags has increased the importance of carrying a kids travel luggage. Growing importance of the product is attributed to high engagement of kids towards their personal luggage, which not only eases the burden on parents but also helps carve the feeling of responsibility in children. Moreover, various companies such as Trunki and SkootCases have introduced ride-on-suitcase for kids, which serves the purpose of riding and at the same time acts as an essential trolley suitcase. This suitcase comes with wheels and is designed in the form of bikes, scooters, or cars, which enhances the look of the product, thereby giving a proper feel of ride to children. Furthermore, growing trend of online shopping has made purchasing easy for the parents of kids who wish to invest in such products. These kids luggage are made available on a variety of online portals with different options to choose from, which is a key factor responsible for the growth of online distribution channel. Different online portals such as Amazon.com, Inc., Flipkart.com., FirstCry India, eBay Inc., and Walmart created a surge in the online shopping of baby travel bags in the market. Moreover, many producers have invested in developing their own portals, wherein they sell their products through their websites. For instance, companies such as Trunki, Smiggle, and R for Rabbit showcase kids travel bags on their official websites. Product
Type Insights of Kids Travel Bags MarketTrolley bags accounted for the largest share of 74.5% in 2018. Rising instances of kids traveling abroad or to different locations for vacations have influenced parents to purchase such products in order to narrow down the level of dependency of kids on to their parents. Changing lifestyle scenario has urged parents to make their offering less dependent and more responsible, which will benefit them in the long run. Trolley bags for kids eases the work of dragging their luggage as it consists of wheels at the bottom. Moreover, product development by manufacturers with the idea of including a ride-on feature has fueled the segment growth. For instance, IQ Toy USA provides Ride N Roll suitcase for kids that is used as a suitcase and at the same time can be ridden by these kids. Backpack is expected to expand at the fastest CAGR of 15.9% from 2019 to 2025. Growing trend of backpacks as a travel luggage among the younger generation has increased the demand for kids backpack, which can be easily lifted owing to less space requirement. In addition, imposition on luggage by the airport authorities has increased the scope of backpacks for kids while travelling. Moreover, introduction of rolling backpacks by producers is expected to boost the growth of this segment owing to the option of rolling down as well as carrying it on shoulders by kids. For instance, in 2018, Kreative Kids, Inc. introduced Plush Rollers as rolling backpacks for kids, which are available in different animal characters.
Distribution Channel InsightsHypermarket/supermarket accounted for the largest share of 40.8% in 2018. Vast distribution network of wholesalers is a key factor responsible for the growth of this channel. Shifting population towards urban areas has influenced consumers to shop for a variety of products under one roof owing to hectic lifestyle schedule. Greater shopping convenience as well as easy product availability are the key factors driving this channel. In addition, increasing presence of kids to these stores provides greater visibility of these products to them and therefore parents are often influenced to purchase these products. Online channel of distribution is expected to expand at the fastest CAGR of 16.1% from 2019 to 2025. Growing working population has resulted in increasing inclination towards online shopping for greater convenience and time saving features. In addition, rising inclination towards outbound travelling influences kids parents to purchase different kinds of luggage, particularly for kids, owing to increased awareness. Thus, online channels provide a wider access to products across countries on a website, which enhances the whole shopping experience of customers. For instance, brands such as Samsonite, Skip Hop, and Trunki offer their products on online portals such as Amazon.com. Moreover, great deals and discounts available on online purchase drive consumers to opt for this channel of buying products, which is mainly driven by millennials.
Regional Insights of Kids Travel Bags MarketEurope dominated the global kids travel bags market, accounting for 33.3% share of the global revenue in 2018. Increasing travel and tourism prevails in the region, which is expected to provide a boost to the growth of the travelling business market. According to studies, European Union tourism is expected to flourish with 44% increase in demand by 2020 if there is improvement in complete access to buildings, hotels, and other such services. This will result in an increase in economic contribution by 39%. Therefore, increasing international travels are expected to boost the demand for travel bags, thereby driving the global market. Moreover, according to studies, in 2017, 26% of the European population is bound to indulge in outbound tourism, once a year, which also results in increased penetration of babys luggage bags such as backpacks, trolley bags, and rolling backpacks in the European market. North America is expected to expand at the fastest CAGR of 16.0% from 2019 to 2025. Shifting preference towards leisure travels in the mid of the year for a break from hectic lifestyle is a key factor driving the market in the region. According to a study published by Cox & Kings, overseas vacation demand has increased by 22% while domestic holidays have witnessed a 20% surge in 2019. Furthermore, increasing trend of multi generation travel has given rise to family trips, which is largely influenced by older tourists with greater spending power as well as leisure time.
Market Share Insights of Kids Travel Bags MarketThe global market is highly competitive in nature due to presence of the top players including Samsonite; Trunki; Carters Inc.; Smiggle; Elodie Details AB; Mattel, Inc.; SANRIO CO., LTD.; TOMY; Babymel; and IQ Toy. Market players are adopting strategies such as mergers and acquisitions to increase product offerings. For instance, in 2017, Carters Inc. have acquired Skip Hop Holdings Inc. at a valuation of USD 140 million in order to increase the product offerings and cater to the demand for essential products among families with young children. Moreover, companies are focusing on expanding their production capacity and adopting innovative technologies in order to meet consumer demand for kids travel bags.
p2Segments Covered in ReportThis report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global kids travel bags market report on the basis of product type, distribution channel, and region:
Product Type Outlook (Revenue, USD Million, 2019 - 2030)
Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030)
- Specialty Stores
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization 1. | read more...