Market Research Future (MRFR) has published on the “Global Backpack Market”.
The Backpack market is estimated to register a CAGR of 9.30% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Backpack market— Adidas AG (Germany),Under Armor Inc. (U.S.),Patagonia Inc. (U.S.),Puma SE (Germany),Wildcraft (India),Samsonite IP Holdings S.AR.L (Hong Kong),Dakine Inc. (U.S.),Deuter Sport GmbH (Germany),Moët Hennessy Louis Vuitton (LVMH) (France),Safari (India)
Backpack Market Highlights
The global backpack market is accounted to register a CAGR of 9.30% during the forecast period and is estimated to reach USD 36.2 Billion by 2032.
The backpack market continues to witness steady growth, driven by rising consumer demand for durable, ergonomic, and stylish backpacks. Key trends include the integration of smart features and sustainable materials.
Segment Analysis
The global backpack market has been segmented based product type, material and distribution channel.
On the basis of product type, the market is segmented into travel, hiking/camping and others. The travel segment dominated the market in 2022. One of the major factors affecting the travel segment of the backpack market is the expansion of the global tourism and travel industry. Travel-friendly bags are becoming more and more in demand as more people fly domestically and abroad.
Based on material, the global backpack market has been segmented into nylon, polyester and others. The nylon category generated the most income in 2022. Nylon is incredibly resilient, making it suitable for both daily use and outdoor activities. Due to its durability, it is perfect for backpacks that must carry hefty weights or traverse difficult terrain.
Based on distribution channel, the global backpack market has been segmented into online channel and offline channel. The offline channel segment dominated the market in 2022. With offline shopping, customers can buy a backpack and immediately take it home. It is not necessary to wait for delivery, which is especially helpful for last-minute orders or situations where customers need the product right away.
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Regional Analysis
The global Backpack market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Backpack market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Backpack market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Backpack market comprises of Middle East, Africa, and Latin America.
The North America backpack market dominated this market in 2022 (45.80%). In North America, there is a huge demand for outdoor activities like camping and adventure sports. Backpacks that can handle these activities and have features like durability, weather resistance, and specialized compartments are greatly needed.
Moreover, the second-largest market share belongs to the backpack industry in Europe. Many European cities have a strong cycling culture, and commuters regularly use backpacks to carry essentials on their bicycle trips. Backpacks with features like bright materials and comfortable straps cater to this market.
Additionally, the Asia-Pacific backpack market is expected to grow at the fastest CAGR from 2023 to 2032. The region's diverse landscapes offer opportunities for outdoor recreation and adventurous travel. Backpacks made for outdoor pursuits like hiking and trekking are in high demand.
Furthermore, the rest of the world's backpack market is divided into the Middle East, Africa, and Latin America. The backpack market in Latin America witnesses steady growth, supported by the region's young population and increasing outdoor activities. Demand for functional and fashionable backpacks, as well as eco-friendly materials, contributes to market expansion.
Key Findings of the Study
- The global backpack market is expected to reach USD 36.28 Billion by 2032, at a CAGR of 9.30% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market The varied landscapes in the area provide options for outdoor recreation and adventure travel. There is a high demand for backpacks designed for outdoor activities like hiking and trekking.
- Based on distribution channel, the offline channel segment was attributed to holding the largest market in 2022.
- Adidas AG (Germany),Under Armor Inc. (U.S.),Patagonia Inc. (U.S.),Puma SE (Germany),Wildcraft (India),Samsonite IP Holdings S.AR.L (Hong Kong),Dakine Inc. (U.S.),Deuter Sport GmbH (Germany),Moët Hennessy Louis Vuitton (LVMH) (France),Safari (India)
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Companies Covered | 15 |
Pages | 128 |
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