Global Baby Travel Bags Market 2019-2023 | Multi-Featured Baby Travel Bags to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Apr 1, 2019--The global baby travel bags market is expected to post a CAGR of over 6% during the period 2019-2023, according to the latest market research report by Technavio.
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The global baby travel bags market will post a CAGR of over 6% during the period 2019-2023 (Graphic: Business Wire)
A key factor driving the growth of the market is the rise in the population of working women. Working parents, especially working women need baby travel bags to carry their child and their belongings to day-cares. The population of working women in developed as well as developing countries is growing substantially over the last few years. This has increased the number of dual-income households, leading to higher purchasing power which facilitates the procurement of premium baby products such as baby travel bags, during the forecast period.
As per Technavio, the introduction of multi-featured baby travel bags will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global baby travel bags market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global baby travel bags market: Introduction of multi-featured baby travel bags
Owing to the growing travel duration of working women, the demand for multi-featured baby travel bags has been increasing significantly. The feature that experiences the highest demand is the product/content organizer and USB charging system as it allows charging phones while on-the-go. For instance, to address this growing need, vendors have launched multi-featured baby travel bags that have a laptop compartment with zipper, insulated milk pockets, tissue pockets, diaper pockets, and USB charging ports. Therefore, the demand for such baby travel bags is expected to boost market growth during the forecast period.
“The advent of exclusive designer collection is expected to drive the growth of the market. Limited edition designer baby travel bags are made of high-quality fabric as consumers appreciate the aesthetics of these materials such as leather and are willing to pay premium prices. Vendors have also introduced baby travel bags that are designed for working women, which also focus on their daily office needs. These baby travel bags are made of strong materials, which can sustain wear and tear situations. All these factors will influence the purchasing behavior of consumers,” says a senior analyst at Technavio.
Global baby travel bags market: Segmentation analysis
This market research report segments the global baby travel bags market by distribution channel (online and offline) and geographical regions (Europe, North America, APAC, MEA, and South America).
The European region led the market in 2018, followed by North America, APAC, MEA, and South America respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the growing popularity of fashionable baby products, rising working women population, rise in economic growth, and the increasing number of vendors operating in the region.
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Five Forces Analysis
- Regional comparison
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- Vendors covered
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- Competitive scenario
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INDUSTRY KEYWORD: TRAVEL OTHER TRAVEL BABY/MATERNITY CONSUMER
SOURCE: Technavio Research
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PUB: 04/01/2019 10:04 AM/DISC: 04/01/2019 10:04 AM