Product ID: UCMIG25K2062
Report ID:
UCMIG25K2062 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The 2022 global market size for active backpacks reached a valuation of USD 5.41 billion and is projected to experience an 8.6% compound annual growth rate (CAGR) from 2023 to 2030. The increasing engagement of individuals in recreational pursuits like hiking, camping, fishing, biking, running, and various sports has significantly boosted the sales of sporting goods, including active backpacks. Hiking emerged as the most favored activity, followed by jogging, cycling, trekking, and mountaineering. The research also discovered that hiking and jogging were the two most popular outdoor activities, with 39% and 33% of respondents, respectively, indicating their preference. Notably, cycling tours saw a substantial surge in popularity in Europe in 2020.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Apparel, Accessories & Luxury Goods by segment aggregation, the contribution of the Apparel, Accessories & Luxury Goods in Consumer Durables & Apparel and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG25K2062