According to a new report published by Allied Market Research, titled, “Travel Safety Kits Market,” The travel safety kits market was valued at $4,118.00 million in 2020, and is estimated to reach $5.7 Billion by 2030, growing at a CAGR of 4.7% from 2021 to 2030.
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A travel safety kit is a preemptive measure, which is maintained to reduce the risk of infections and injuries. First-aid kits and COVID-19 protections kits are major products used while traveling due to the government guidelines and awareness regarding consequences of the Corona virus infections. Face mask and sanitizers are highly popular products included in the COVID-19 protection kits and in 2020, these products have gained highest share in the COVID-19 protection kits market. Governments have restricted people to travel without face mask and are imposing fines to people who are not following rules and regulations. Thus, market for face mask has tremendously increased, which, in turn, propels growth of the travel safety kits market.
Outbreak of COVID-19 has positively impacted the overall growth of the travel safety kits industry. Growth in travel activities for various purposes such as business, tourism, and work related to job and increased risk of the corona virus despite of taking vaccination has led to rise in demand for travel safety kits.
The travel safety kits market is segmented into type, distribution channel, and region. On the basis of type, the market is categorized into first aid kit, COVID-19 protection kit, and others. On the basis of distribution channel, it is segmented into hospitals, pharmacies, hypermarkets/supermarkets, convenience stores, online, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, U.K., Italy, Spain, Russia, Netherlands and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, ASEAN, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
On the basis of type, the first aid kit segment was the considerable contributor to the market, with $1,070.5 million in 2020, and is estimated to reach $2,850.5 million by 2030, at a CAGR of 11.5% during the travel safety kits market forecast period. First aids are used by every single person multiple times in their life. They are an essential part of traveling kits and are also used at home. The training and expertise required to use medical kits play a big role in using the kits. They are various first aid kits available in the commercial market, which are easy to use and cost-efficient to the end consumers. First aid kit has been gaining significant traction among people owing to the rising number of road accidents, increasing cases of falls in home and office settings, and growing awareness regarding first aid procedures across the globe.
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According to travel safety kits market analysis, on the basis of distribution channel, the online segment was the significant contributor to the market, with $359.0 million in 2020, and is estimated to reach $1,405.7 million by 2030, at a CAGR of 15.3% during the forecast period. Increase in adoption of various online portals in developing regions and rise in number of offers or discounts provided by these sites attract consumers to travel safety kits through online channels. Moreover, online sales channels have increased consumer reach, owing to which it has evolved as a key source of revenue for many companies. Furthermore, the online sales market is expected to expand in the future, owing to rapid growth in online and mobile user customer bases in emerging markets. Thus, above factors are expected to propel the travel safety kits market growth through online segment.
Region wise, Asia-Pacific travel safety kits market is expected to witness significant growth at a CAGR of 6.1% during the forecast period. The Asia-Pacific travel safety kits market is estimated to register the CAGR of 6.2% during the forecast period, owing to rise in demand for face mask, face shields, PPE kits, and sanitizers and surge in consumer awareness toward health-related consumer goods. Moreover, adoption of western lifestyle and rise in disposable income are anticipated to drive growth of the market in the region. Furthermore, increasing number of accidents in the region, which favors he growth of the travel safety kits market thorough first aid kits segment.
The players operating in the travel safety kits industryhave adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Acme United Corporation, Adventure Ready Brands, Certified Safety Manufacturing, Inc., Cintas Corporation, DC Safety Sales Co., Inc., Green Guard First Aid & Safety, Levitt-Safety Limited, Lifeline First Aid, LLC, MedTree, and Steroplast Healthcare Limited.
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KEY FINDINGS OF THE STUDY
- The travel safety kits market size was valued at $4,118.0 million in 2020, and is estimated to reach $5,702.1 million by 2030, registering a CAGR of 4.7% from 2021 to 2030.
- By type, the first aid kit segment is estimated to witness the significant growth, registering a CAGR of 11.5% during the forecast period.
- In 2020, depending on distribution channel, the hypermarket/supermarket segment was valued at $537.0 million, accounting for 13.0% of the global travel safety kits market share.
- In 2020, the U.S. was the most prominent market in North America, and is projected to reach $1,445.1 million by 2030, growing at a CAGR of 3.1% during the forecast period.
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