Trendy bags & wallets for the light traveler

by Stef Calimlim (Content Editor)

Image from Unsplash

What bags will never go out of fashion and set the trend in 2022? According to reports from the Market Research Future, the global bags market is projected to reach $94.63 billion by 2027, expanding at a CAGR of 4.9 percent. While the COVID-19 pandemic has strongly impacted the tourism industry, leading to a decline in the sales of bags, the increasing trend of offering bags as a gift, the growing popularity of customization and the booming organized retail sector in the Asia-Pacific region are expected to drive the growth of the bags market.

Buyers looking to expand their presence in the highly competitive fashion markets can start upgrading their catalogs with this lineup of the trendiest and latest bags and wallets available for sourcing via Global Sources.

Men's wallets

Buyers can find a wide range of men's wallets from felt, leather, polyester, faux leather, PU and carbon fiber to aluminum alloy types at competitive rates from the marketplace. These come in bi-fold, trifold, zipped and clutch designs and have water-resistant, RFID protection, anti-theft, money clip, coin purse, power bank and passport or card holder features. Leather wallets remain a popular choice among consumers. The leather wallet and purse market, in particular, is predicted to reach a global revenue of $53.8 billion by 2027 according to Business Wire.

Crossbody bags

Crossbody bags are ideal for users who are always on the go. They are a staple fashion accessory for men and women who often go out for a walk or travel due to the bags' sleek design and versatility. Buyers can choose from plush, eco-friendly and washable kraft paper, Tyvek, PU leather, rPET, nylon, leather, canvas, polyester, cotton, rattan and silicone leather crossbody bags with water-resistant, anti-theft and insulated features.

Fanny packs

The year 2021 has seen a resurgence of the popularity of this retro bag popularly known as the fanny pack. Pursuit of convenience and travel are driving the growth of the market as consumers think of the accessories they need, according to NPD Group. Over time, designs have evolved and even high-end fashion labels have also started venturing into the market. The marketplace currently offers a wide selection of this must-have fashion accessory, which includes sequined, glitter, embroidered, reflective and holographic fanny packs made of nylon, neoprene and spandex, oxford, PU, polyester, rPET, canvas, PVC or water-resistant fabric.

Beach bags

Island-bound or not, beach bags make the perfect fashion accessory for any summer adventure because of their durability and lightweight feature. Manufacturers offer these bags in printed, plain, and embroidered designs. Some models are water-resistant, handcrafted or insulated and have multiple pockets and zipper enclosures. The bags are typically made of neoprene, PU, PVC, canvas, cotton, straw, woven raffia, nylon, oxford, silicone, polyester, mesh and eco-friendly materials.

Diaper bags

Available in sets and per piece, the diaper bags available in the marketplace come in backpack, messenger and tote styles with handles. Backpack types hold the largest market share, followed by tote kinds. With the convenience it offers and its ability to store multiple utility products for babies, the diaper bag's global market is expected to expand at a CAGR of 2.9 percent from 2019 to 2025 according to Grand View Research. Some diaper bags have a built-in mobile phone charger, while others double as a baby bed or changing station for added convenience.

Clutch bags

The global clutch bag market is expected to grow by $4.92 billion from 2020 to 2024 according to Technavio. Thirty-seven percent of such growth is said to originate from the Asia-Pacific region. This market growth is primarily driven by the growing demand for luxury clutch bags and the rising spending power of consumers. In today's marketplace, buyers will find an array of clutch bags for various occasions, including bags with LED, beaded, sequined, printed, rhinestone-embellished, diamond-encrusted, glittered, embroidered, floral and faux animal skin designs. These can be made of silicone, PU, kraft paper, genuine and PU leather, straw oxford, PVC, EVA, polyester, canvas, acrylic and plush.

Canvas tote bags

Suitable for use as a shopping, daytime, office or school bag and a promotional or gift item, canvas tote bags are an economical, eco-friendly and quintessential casual fashion accessory. In general, the tote bags market is expected to grow by $5.85 billion from 2021 to 2025 according to Research and Markets. The market's growth is driven by the increased fashion consciousness and spending on personal goods among consumers. Suppliers offer these canvas tote bags at competitive rates, with designs ranging from printed and buyer-specified to blank types which allow end-users to express their creative side.

Toiletry bags

A must-have fashion accessory for the seasoned traveler and everyday individual, toiletry bags are the epitome of stylish organization. In Mordor Intelligence's recent report, the cosmetic and toiletry containers market is set to reach a CAGR of 5.4 percent from 2021 to 2026, owing to the rising disposable income, the growing popularity of the accessory in the beauty market and the changing beauty retail distribution scenario. The common selections offered in today's marketplace include hanging, roll-up and foldable types which are made of PVC, polyester, nylon, TPU, neoprene, oxford, PU, PU leather, Tyvek, canvas, cork or mesh.