Bags And Containers Market Competitive Landscape And Component Benchmarking 2028

Bags And Containers Industry Overview

The global bags and containers market size was valued at USD 38.80 billion in 2021 and is expected to expand at a compound annual growth rate of 5.6% from 2022 to 2028.

The growth of the global bags &  containers market is primarily driven by the increasing global travel and tourism sector and customer preference for high-end baggage. Furthermore, growing requirements for backpacks from the business and educational sectors are fueling the growth of the bags market. Rapidly changing lifestyles, urbanization, and increasing purchasing power of the middle class, particularly in developing nations, are the factors expected to drive demand for luxury and trendy bags. Increased domestic tourism, business trips, and growing demand for weekend family visits, all contribute to increased bags &  containers market sales.

Gather more insights about the market drivers, restrains and growth of the Global Bags And Containers Market

U.S. Bags And Containers Market size, by distribution channel, 2019 - 2028

COVID-19 has negatively affected the bags and containers market, globally. The major fall in the travel & tourism industry, throughout the pandemic period, is the major reason for reduced sales. Country-wise lockdown, a complete ban on international traveling and in addition the closure of shopping malls and retail stores has hampered the growth of the bags and containers market in 2020.

However, as the pandemic situation steadily improved, consumer purchasing habits increased, and the market is projected to recover. In addition, consumer buying behavior majorly shifted from offline channels to online portals during pandemic times, which influenced positively on bags & containers market.

The increase in demand for bags & containers is directly proportional to the growth of the travel and tourism industry. The worldwide travel and tourism business has seen substantial expansion in recent years. The tourism business is currently one of the world's fastest-growing and most diverse sectors. Countries such as China, the U.S., Spain, and Germany among others have high outbound tourism. Furthermore, women's spending on luxury travel has increased dramatically in recent years, thereby supporting the market growth.

The incorporation of advanced technologies such as GPS monitoring into new product innovations from manufacturers is expected to promote the market growth for bags &  containers. The availability of goods in a wide range of forms, sizes, colors, and design patterns will appeal to a wide range of consumers, propelling market expansion. The bags industry is growing due to millennials increasing usage of various bags for multiple situations as a fashion statement. Rising demand for bags &  containers from athletes, health-conscious individuals, travelers, and trekkers will expand the market demand.

Bags & containers perform a very important role in carrying clothes and other belongings while traveling, trekking, or shifting from one place to another. Duffel bags, backpacks, tote bags, and jewelry boxes are the most commonly used types of bags and containers. Advanced and innovative product launches from top brands on a timely basis, attract a large population. The easy availability of eco-friendly and sustainable products in the market will further propel the growth of the bags & containers market.

Rising disposable income and increased spending on sports are the factors expected to drive demand for the bags &  containers, during the forecast period. One of the key reasons influencing customer purchase decisions is the demand for lightweight bags that can fit a variety of clothes and items.

However, the widespread availability of counterfeit products is likely to limit the market expansion. Counterfeit items are priced significantly lower than branded ones, which are predicted to have an influence on market sales.

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

  • Bag-in-Box Container Market - The global bag-in-box container market size was estimated at USD 3.77 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2022 to 2030.
  • Plastic Packaging Market - The global plastic packaging market size was valued at USD 355.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.2% from 2022 to 2030.

Key Companies profiled:

Some prominent players in the global bags and containers market include

  • Ace Co. Ltd.
  • Antler Ltd.
  • Bric’s Industria Valigeria Fine SPA
  • Delsey S.A
  • Luggage America Inc.
  • LVMH Moët Hennessy Louis Vuitton
  • Nike, Inc.
  • Samsonite International S.A.
  • F. Corporation
  • Valigeria Roncato
  • VIP Industries Ltd.
  • Briggs & Riley Travel ware
  • Ralph Lauren Corp.
  • Tommy Hilfiger

Order a free sample PDF of the Bags And Containers Market Intelligence Study, published by Grand View Research.

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