With the increase in international travel driven by rising disposable incomes and an expanding middle class, the demand for travel accessories has grown tremendously. Travelers now expect comfort, convenience, and style, which has resulted in the rapid growth of the travel accessories market.
According to the Valuates Reports' data, the Global Travel Accessories Market, which includes travel pillows, travel bags, toiletries, and various electronic devices used by bloggers during travel, has reached 48.2 billion dollars in 2021. The market is expected to grow even more, reaching 95.7 billion dollars by 2031.
The travel industry is expanding due to globalization and the rise of the middle class in numerous countries. People travel for business, leisure, or other reasons, increasing the demand for travel accessories. Travelers are searching for add-ons to improve their travel experience, whether a quick weekend getaway or a long international trip. These accessories include portable chargers, travel pillows, luggage, and packing organizers.
Moreover, technological advancements have significantly impacted the travel accessories market. Travelers require bags with GPS tracking, anti-theft systems, and other intelligent features, leading to this market's growth.
Consumer preferences in travel accessories have shifted towards products that combine durability, style, and practicality. Modern-day travelers seek products that meet their functional needs while expressing their individuality and sense of fashion. Thus, visually appealing travel accessories like stylish passport holders, fashionable luggage, and travel wallets are in demand.
The travel accessories market has significantly grown due to social media platforms and the influence of travel bloggers and influencers. Aspiring travel lifestyles are showcased on social media sites such as Pinterest and Instagram, making consumers increasingly interested in travel accessories that are not only practical but also visually beautiful and Instagram-worthy.
According to recent statistics, the travel bag category is the most popular among travel accessories. In 2021, it generated 19.8 billion dollars and is expected to grow by 5.8 percent, reaching 37.4 billion dollars by 2031. This growth is attributed to increased demand for travel bags as business and leisure travel rise. Furthermore, advancements in technology, such as high-resistance polycarbonate material, autonomous suitcases, and smart luggage with GPS tracking, are expected to support the growth of this segment in the future.
Furthermore, consumers are increasingly concerned about environmental issues, which has sparked a shift towards more sustainable travel accessories. Many tourists now prioritize eco-friendly accessories made from recyclable materials or biodegradable textiles. Brands that champion sustainability and environmentally friendly production practices appeal more to customers who want to reduce their carbon footprint while traveling.