Global Tote Bags Market 2019-2023 | Increased Demand at Airport Retail Stores to Boost Growth | Technavio

Technavio has announced its latest market research report titled global tote bags market 2019-2023. (Graphic: Business Wire)

LONDON--()--The global tote bags market is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

Consumers are increasingly becoming fashion-conscious which is resulting in the increased consumer spending on personal goods including tote bags. The need for shopping bags is increasing because of its ability to carry multiple belongings. Moreover, the growing number of working women, increasing spending power and the proliferation of online shopping portals are further boosting the demand for luxury or premium varieties of tote bags. To capitalize on this growing demand, vendors are offering a wide range of products to give the consumers the choice to select the desired product as per their requirements. Hence, the increasing fashion consciousness and expenditure on personal goods is identified as a major factor responsible for the growth of the tote bags market size.

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As per Technavio, the increased demand at airport retail stores will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Tote Bags Market: Increased demand at airport retail stores

The popularity of airport retailing is growing as luxury and premium products are available at lower prices in the duty-free airport retail stores. As a result, travelers prefer to buy products, such as tote bags from airport retail stores rather than local retail stores. This growth of airline retail stores is one of the major tote bags market trends that will significantly boost the demand and drive the growth of the market.

“Apart from the increased demand at airport retail stores, the high need for luxury handbags and the rising marketing campaigns about the tote bags are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Tote Bags Market: Segmentation Analysis

This market research report segments the global tote bags market by distribution channel (offline and online) and geographical regions (North America, Europe, APAC, South America, and MEA).

European region led the market in 2018, followed by APAC, North America, MEA, and South America respectively. However, during the forecast period, the APAC region is expected to dominate the global market and register the highest incremental growth, owing to the increased spending by millennials on personal goods in the region.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200


Release Summary

The global tote bags market is expected to post a CAGR of over 5% during the period 2019-2023, according to Technavio


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200